Justin Lunny, CEO of British electric vehicle conversion company Everrati, sees his job as more than just tackling iconic vehicles, like the VW Microbus, and giving them an electric powertrain. “Our philosophy is to redefine cars,” Lunny said in an interview with The edge. “We are redefining them as EV. After two years in business, Lunny is finally bringing this philosophy to the United States in hopes of tapping into a growing EV conversion market.
No structures are damaged during the process of converting the cars: “To the untrained eye, they look like a nice original Porsche or GT40 or Land Rover … true to the essence of the original, but without no issuance, ”Lunny shares.
All conversions are also reversible to retain value. For example, a converted 1991 Porsche can be unbolted and restored to its original condition. Still, Lunny didn’t expect customers to ever return to gasoline, but the fact that they could was important. “No one will ever do it, but it’s a good thing to show,” Lunny said.
Lunny has a background in starting fintech businesses and sold one in 2017. “However, my passions are cars alongside tech,” he said. To that end, Everrati is primarily a self-funded operation, but it does include some investors. According to Lunny, Everrati finds that 45% of customer interest comes from the United States, a place where the company was not promoted initially.
The first American orders come from the high-income areas of California and Florida, in addition to New York and Long Island. All of Everrati’s clients are wealthy tech and auto enthusiasts, with the first client in the United States being a “tech billionaire,” according to Lunny, who will not share the client’s identity. He describes Everrati’s main clients more eloquently: “High net worth, sort of thought leaders, really; they believe in sustainability, but they have style, ”he said.
“If you look at the Prius generation and the first Tesla generation … I usually see itthat kind of feeling for what we’re doing now, ”Lunny explained. Tesla started by selling the original Roadster to high net worth individuals and then used it to make more affordable cars. Lunny sees a similar path for Everrati as he contemplates his next funding round in the US: “Although I’m not the next Elon Musk, I have a feeling that… these beautiful cars should be allowed to continue. to be conducted. . “
Everrati is a small but growing company. The company currently has 19 employees, two of whom have been hired in recent weeks. To achieve “high quality OEM engineering standards”, Everrati hired several engineers from top manufacturers, including Lotus, McClaren and a Mercedes-Benz business partner. He also recently recruited Amit Chandarana, vice president and chief commercial officer of Gettacar, an online used car retailer, to serve as senior advisor for the US-based operation.
Everrati chooses specific cars and starts with the conversion work. When all the engineering and tooling are complete, the new electric cars become available to order in the online configurator as a “customizable project”.
If a customer wanted a Porsche 964, they can either bring their own or Everrati will go find one and then convert it using the process they’ve already built. But it can take a long time to complete a single project. For example, the process of converting a Land Rover from development to final product took 18 months. Everything works as expected, including the speedometer and gear levers, which all behave exactly as if it were still a gasoline car.
“If 15 people want a Land Rover, for example, we know we can build them to the same standard every time as opposed to 20 different cars coming to different points,” Lunny said. “We’re sort of producing the process. “
Lunny championed Everrati’s deliberative approach as what sets the company apart from the competition. “If I may say so, we are unique in this,” he said. “A lot of other companies will take your car in a day; three months later, you get it back. There is no – dare I say – testing, safety standards … a very different market.
Electric vehicle conversions from older gasoline cars appear to be a small but rapidly growing market. Companies like Zelectric and EV West are already established in the United States and have been converting vehicles for years. Zelectric, in particular, originally started out by stuffing Tesla donor parts into classic cars. Even big manufacturers like Ford are getting into the game by reselling Mustang Mach-E engines as crate engines. Lunny mentions that Ford’s engines are probably good for big, muscular American vehicles, but never sees Everrati using them.
Lunny said the cars they are working on are very iconic and beautiful, but acknowledges that they are bad for the environment. “These cars emit their own body weight of CO2 every two thousand miles,” he said. “As we move towards clean energy and clean air… a lot of people won’t be comfortable with that, I think. “
The starting price for a converted Everrati vehicle is around $ 200,000, but most cars cost around $ 500,000. It’s going to go even higher because some customers bring in their own classic cars, some of which sell for over a million dollars. The long term goal is to be a real business; Lunny wants Everrati to become an iconic brand of electric vehicles.
“We start with the high end. The main thing will be quality – this is luxury, it is beautifully finished cars almost to the Concord standard, “he said,” and this is the first period of time, and well Of course, while when we increase that market share, we may seek to make, eventually, an addressable market larger than technology and cost allow us to make.
Batteries represent the biggest expense for the company. Lunny shared that they have a partner company that builds packs based on Everrati’s design and specifications, with cells primarily sourced from Chinese battery company Envision and some from LG. Everrati builds 700 volt, 60kWh, liquid cooled batteries which can quickly charge up to 80kW DC via CCS Combo. Charging can take 45 minutes to go from 20% to 85%, Lunny said.
The GT40 is Everrati’s “local EV supercar” with its partner Superformance and the next key step in the US market. “Our next round is to consolidate our leadership in the UK, we have a real interest in the UK … and have a production base in California” and will be available to order at the start of the year next.
But there are cars that even Everrati won’t touch. Like a Porsche 959 with only 700 miles on the clock.
“We politely declined,” Lunny said of the client who requested the conversion, “because we don’t think it’s the right thing to do.”