Thursday 3 June 2021 9:30 am

David Beckham scores stake in UK electric vehicle firm Lunaz

David Beckham may be known for his impressive collection of classic cars, but the former England footballer is now swapping gas-guzzlers for electric vehicles.

The maverick midfielder has taken a 10 per cent stake in Lunaz, a Silverstone-based company that electrifies classic cars such as Bentleys, Rolls-Royces and Jaguars.

He joins a star-studded teamsheet of investors including the wealthy Barclay and Reuben families, as well as property tycoon Alexander Dellal.

Since its inception in 2019, Lunaz has converted a string of classic cars, including the first fully electrified Rolls-Royce Phantom V, which has a starting price of £500,000.

Its technology was developed by Jon Hilton, a triple F1 World Championship winning technical director, alongside specialists from companies including Aston Martin, Ferrari and McLaren.

Following the fresh cash injection the company now plans to turn its attention to industrial vehicles, beginning with HGVs such as bin lorries and fire engines.

Lunaz said its conversion process could extend the life of up to 70 per cent of the existing weight and embedded carbon within a vehicle, as well as saving fleet operators significant costs compared with replacing old vehicles.

By 2030, when bans on internal combustion engines in major markets are set to come into effect, it is estimated that more than 2bn conventional vehicles will still exist worldwide. Lunaz said its technology could prevent a large proportion of these motors being scrapped/

Beckham, whose previous investments include a synthetic cannabis company and London-listed Guild Esports, said Lunaz represented the “very best of British ingenuity in both technology and design”.

Lunaz said it will double the number of jobs for engineers and manufacturing technicians, with this growth set to continue to more than 500 roles at Silverstone by 2024.