Football star and former England national football team captain David Beckham has become the latest celebrity to invest in the green mobility revolution. Beckham has invested in Lunaz electric car company in the UK. It currently has a 10% stake in the company.
(Read also: Beckham plans to connect house with Escape tunnel to clean car garage: report)
Reuters reports that Lunaz specializes in car restoration and electrification technologies. David Beckham has been known for investing in various startups and is becoming the latest addition to the Lunaz list. The value of the agreement has not been revealed by any party.
The car restoration and electrification company reported that Beckham would join the founders of Lunaz and the Barclay, Reuben and Dellal families as part of the company. The former Manchester United and Real Madrid star is said to have invested in Lunaz through his personal investment firm DB Ventures.
Speaking of Lunaz, the Silverston-based electric car recycling company chooses a wide range of classic cars, including Rolls-Royce, Range Rover, Jaguar and more. The company also plans to electrify old trucks and other specialized commercial vehicles. This strategy is to give new impetus to old vehicles through the transition to green rail technology.
Lunaz is a growing trend in the world of electric vehicles. Several companies and small startups around the world are ripping out old fossil fuel engines from a vehicle and using this strategy to install electric motors and battery packs to convert vehicles into zero emissions. This has become a significant angle in the global battery economy.
The UK company started operations in 2018. It can currently hold about 120 vehicles a year. The company aims to increase its recycling capacity to 4,000 vehicles a year by 2028.
Be Updated with all the Latest Automobile News