- Lunaz Applied Technologies faces administration.
- Despite setbacks, Lunaz retains HGV electrification intellectual property, aiming to resume when conditions improve.
- Electromodding division remains unaffected; LAT pivots towards passenger cars amid market dynamics.
Electric commercial vehicle innovator, Lunaz Applied Technologies, falls into administration
Commercial vehicle electrification firm Lunaz Applied Technologies (LAT) has hit a roadblock, plunging into administration and losing approximately 40 employees. Founded in 2021 as an offshoot of Lunaz, renowned for electrifying classic cars, LAT’s ambitious plans have been derailed by a crucial funding shortfall for its Lunaz Upcycled Electric Vehicle project, specifically designed for electric bin lorries.
Yet, there’s a glimmer of hope. Despite ceasing operations, Lunaz retains ownership of its HGV electrification intellectual property. This signals intentions to resurrect the program when market conditions turn favourable, underscoring a commitment to sustainability in the commercial vehicle sector.
A spokesperson for Lunaz shed light on the company’s strategic manoeuvres. They highlighted a pivot towards passenger cars, currently in production.
The spokesperson stated:
“It is intended that engineered commercial vehicle platforms will commence production at a later date, in response to confirmed and anticipated delays on the legislative requirement for fleets to transition to zero-emissions vehicles.”
LAT’s previous aspirations included converting 1100 diesel-powered industrial vehicles annually to electric drivetrains, a move anticipated in light of the impending 2035 ban on fossil-fuelled vehicle sales. Despite the setback, LAT had already inked contracts with heavyweights like waste management titan Biffa and Buckinghamshire Council, indicating a latent demand for electrified commercial vehicles.
Ade Thomas, Founder of Green.TV and the EV SUMMIT, commented:
“UK government needs to step up its support for the EV manufacturing sector. We seen ARRIVAL, Volta Trucks and now Lunaz Applied Technologies, all suffer from a lack of financial dynamism. If you’re JLR, MINI, or Nissan, you’re fine, but smaller businesses also need central government backing. In the U.S., this funding is there. In the UK, sadly, it is not.”
The emobility industry has been rallying the government to supply greater support. Open letters from industry leaders, as well as the Zero Emission Van Plan, have shown the need from the industry for greater funding. Without it, innovative, sustainable companies will continue to struggle.
In the face of adversity, Lunaz Applied Technologies remains resolute. They’re eyeing a resurgence in the electrification market. Armed with a dedication to innovation and environmental stewardship, the company seeks to emerge stronger.
