Elon's Vision
  • Contacts
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Elon's Vision
No Result
View All Result
Home Investing

Beckham-backed electric vehicle startup hits $200m valuation

by
February 24, 2022
in Investing
0
Beckham-backed electric vehicle startup hits $200m valuation
0
SHARES
28
VIEWS
Share on FacebookShare on Twitter

An ‘upcycled’ electrical vehicle startup backed by David Beckham has hit a $200m valuation today, as it closed a private funding round to pump into a major manufacturing facility.

Lunaz, which electrifies classic cars and old vehicles set for the scrap heap, will now use the funding to accelerate the UK’s largest remanufacturing and electrification facility next to its HQ in Silverstone.

David Beckham snapped up a ten per cent stake in the firm last year, and it is now looking to extand its reach in the industrial electric vehicles market.

Founder David Lorenz said the cash would help drive the decarbonisation of vehicles across the UK.

“By upcycling and electrifying industrial vehicles at scale, millions of tonnes of embedded carbon is saved by dramatically extending the usable life of thousands of vehicles that would otherwise be scrapped,” he said.

“By applying this approach to public sector vehicles like refuse trucks we deliver a result that is better for the taxpayer and better for the planet.”

Lunaz bosses unveiled plans for the firm’s first electric refuse truck yesterday which they said would be rolled out to roads by 2023.

The firm is also eyeing up new sites for international factories, to target what it said was a potential market of around 80m units in the UK, EU and US alone.

Bosses say they have already signed fleet electrification agreements with councils and private entities in the UK and US as they ready for a full market launch in 2023.

Read more:
Beckham-backed electric vehicle startup hits $200m valuation

Previous Post

UK fraudsters took advantage of two-thirds more victims during Covid

Next Post

Southern Water offer discount to customers following Bob Geldof sewage row

Next Post
Southern Water offer discount to customers following Bob Geldof sewage row

Southern Water offer discount to customers following Bob Geldof sewage row

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest

Jay Bhattacharya on Public Health

October 12, 2021

That Bangladesh Mask Study!

December 1, 2021

Antitrust Regulation Assumes Bureaucrats Know the “Correct” Amount of Competition

November 24, 2021
Pints of champagne could be the next ‘Brexit dividend’

Pints of champagne could be the next ‘Brexit dividend’

December 24, 2021
Emergency Powers Are for Emergencies

Emergency Powers Are for Emergencies

0

0

0

0
Emergency Powers Are for Emergencies

Emergency Powers Are for Emergencies

July 1, 2025

From One Off Webinar to Persistent Hub: Rethinking Digital Engagement with a Modern Virtual Event Platform

July 1, 2025
“Did You Mean That Like That?” Conversations – Recognising Unintentional Bias in Business

“Did You Mean That Like That?” Conversations – Recognising Unintentional Bias in Business

July 1, 2025

of Business Units BPG Announces Strategic Restructuring Plan for Clear Separation of Business Units

July 1, 2025

Recent News

Emergency Powers Are for Emergencies

Emergency Powers Are for Emergencies

July 1, 2025

From One Off Webinar to Persistent Hub: Rethinking Digital Engagement with a Modern Virtual Event Platform

July 1, 2025
“Did You Mean That Like That?” Conversations – Recognising Unintentional Bias in Business

“Did You Mean That Like That?” Conversations – Recognising Unintentional Bias in Business

July 1, 2025

of Business Units BPG Announces Strategic Restructuring Plan for Clear Separation of Business Units

July 1, 2025

Disclaimer: ElonsVision.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Contacts
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 ElonsVision. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 ElonsVision. All Rights Reserved.