Lunaz, the electric car company backed by David Beckham which collapsed into administration earlier this year, has completed a restructure and restarted production.
The Silverstone-based business will continue to electrify classic cars and up-cycle commercial vehicles under a new structure and business entities.
Lunaz Design will operate from the company’s existing headquarters and production home on the Silverstone Technology Park.
This will see the resumption of production for all Lunaz Design platforms (Aston Martin DB6, Bentley Continental, Jaguar XK, Range Rover Classic, and Rolls-Royce Silver Cloud and Phantom V/VI).
The commercial vehicles business has also restarted operations and is aiming to make its first customer deliveries in the first quarter of 2025.
Founder David Lorenz said: “Up-cycling and electrification are the sustainable and economically viable courses for the generational shift to zero-emissions vehicles.
“We are delighted to have worked with our clients and stakeholders to create a new structure that lays the foundations for the long-term sustainable growth of the business.
“This ensures we are ready to meet immediate demand for vehicle electrification services and are fit to scale in direct response to volume requirements as major markets build towards legislative bans on Internal Combustion Engine (ICE) commercial vehicles.”
The news comes after it was revealed that Lunaz’s creditors are set to lose out on almost £20m because the business entered administration.
According to a new document filed with Companies House by FRP, unsecured creditors in Lunaz are only set to receive a share of just over £1.6m.
The Silverstone-based vehicle electrification business entered administration earlier this year with the majority of jobs lost.
According to documents filed with Companies House, David Beckham holds 200,000 shares in Lunaz Group.
Lunaz, the electric car company that recently went through a restructure and administration, has now successfully restarted its production operations. The company, based in Silverstone, will focus on electrifying classic cars and up-cycling commercial vehicles under its new structure and business entities. Operating from its existing headquarters and production facility at the Silverstone Technology Park, Lunaz Design is all set to resume production of its popular platforms, including Aston Martin DB6, Bentley Continental, Jaguar XK, Range Rover Classic, and Rolls-Royce Silver Cloud and Phantom V/VI.As part of its restructured operations, the commercial vehicles business of Lunaz has also restarted and is gearing up to make its first deliveries to customers in early 2025. In a statement, founder David Lorenz emphasized the importance of up-cycling and electrification in driving the shift towards zero-emissions vehicles. He expressed his delight in the successful creation of a new business structure that not only meets the current demand for vehicle electrification services but also sets the stage for long-term sustainable growth.The recent developments at Lunaz come as a hopeful sign for the future of the company, especially considering the challenges it faced earlier this year. The creditors of Lunaz, who were at risk of losing nearly £20m due to the administration, are now set to receive a share of over £1.6m, according to documents filed with Companies House by FRP. This positive outcome reflects the efforts made to secure the future of the business and ensure its viability in the changing market landscape.David Beckham, a prominent figure associated with Lunaz, holds a significant stake in the company, further underscoring the commitment to its success. The focus on sustainability, innovation, and meeting the evolving demands of the automotive industry positions Lunaz as a key player in the transition to electric and eco-friendly vehicles.As Lunaz continues its journey towards growth and expansion, it remains dedicated to delivering high-quality electrification services and up-cycled vehicles to its customers. The restructured operations and renewed focus on sustainability signal a promising future for Lunaz as it navigates the challenges and opportunities in the electric vehicle market. Stay tuned for more updates and insights on Lunaz’s innovative initiatives and contributions to the automotive industry’s transformation.
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Source: USA Today
