A Porsche 911 replica painted in an orange and blue Gulf racing car livery. Photo: Everrati
A Porsche 911 replica painted in an orange and blue Gulf racing car livery. Photo: Everrati
A Porsche 911 replica painted in an orange and blue Gulf racing car livery. Photo: Everrati
A Porsche 911 replica painted in an orange and blue Gulf racing car livery. Photo: Everrati

Eco-supercars: All-electric Lambos and G-Wagens head for the UAE


Tim Stickings
  • English
  • Arabic

For British luxury car engineers restoring iconic models with green, all-electric engines, the Middle East is an obvious market.

"There's a lot of car people, and certainly from what I'm seeing, a lot more interest in electric vehicles," says Justin Lunny, the founder of electric motor company Everrati.

A client in the UAE recently placed an order for the world's first all-electric Lamborghini LM002, a hulking all-terrainer known as the Rambo Lambo.

Everrati has a tie-up with a Dubai car maker, W Motors, in which electric engines designed in Britain power UAE-made supercars.

And a new luxury line, set to be unveiled at next week's Pebble Beach car show in the US, is a riff on a Middle East favourite, the G-Wagen.

The Mercedes off-roader is a familiar sight on UAE roads, with its drivers including Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

Luxury car engineers at Everrati and Arcade Cars plan to make an electric version of the Mercedes G-Wagen. Photo: Everrati
Luxury car engineers at Everrati and Arcade Cars plan to make an electric version of the Mercedes G-Wagen. Photo: Everrati

First produced in 1979, the first designs were reputedly for a military vehicle proposed by the Shah of Iran, before it entered the luxury market instead.

Everrati plans to bring its method of restoring classic vehicles and replacing their engines to the G-Wagen, in a team-up with a British-Austrian company, Arcade Cars.

Known as Sojourn, the all-electric version is envisaged as a four or six-seater with a classic G-Wagen shape and soft top, drawing on designs for an electric Land Rover.

"The G-Wagen is such a vehicle synonymous with Dubai in the modern age, and Abu Dhabi. I think it would be quite a cool vehicle for the local market," Mr Lunny told The National.

"We see the UAE as a really interesting hub."

Everrati electric cars - in pictures

Electric market

Car enthusiasts in Saudi Arabia have expressed interest in battery-powered luxury too, as the region turns to electric cars for sustainability.

Electric cars could make up 15 per cent of car sales in the UAE by 2030, and a quarter by 2035, according to a recent forecast by PwC.

Adnoc Distribution, a subsidiary of Abu Dhabi energy company Adnoc, plans to more than double its network of charging points in the UAE by the end of this year.

Globally, a "rapid deployment" of zero-emission cars is one of the goals the world was set at last year's Cop28 climate summit in the UAE.

Everrati's take on a Land Rover Series IIA charges at an electric station. Photo: Everrati
Everrati's take on a Land Rover Series IIA charges at an electric station. Photo: Everrati

Discerning clients

Mr Lunny expects demand from discerning drivers who want to refit a classic in the way they might tailor a fashion item or remodel a yacht.

He said most of Everrati's clients are not just wealthy but "do actually have a care for climate change, sustainability".

"Anybody with money can have a new [Rolls-Royce] Cullinan or whatever it might be. Building one of our cars takes a bit of thought," he said.

One customer is Matt Rogers, a former Apple engineer who developed smart thermostat Nest and ordered an electric version of a 964-generation Porsche 911.

Off-the-shelf Porsche-inspired models typically cost £290,000 ($369,000), with one edition painted in an orange and blue Gulf racing car livery.

A restored Porsche 911 painted in the colours of a Gulf racing car charges at an electric station. Photo: Everrati
A restored Porsche 911 painted in the colours of a Gulf racing car charges at an electric station. Photo: Everrati

A second US client is motorsports enthusiast Steve Rimmer, who will unveil his new electric Porsche 911 RSR replica, resembling a racing car, at Pebble Beach.

The car has a range of more than 320km and accelerates from 0 to 96 kph in 3.7 seconds, the manufacturers say.

The unnamed UAE driver asked for a battery instead of a V12 engine in their Lamborghini LM002, the Rambo Lambo.

The 1980s military-inspired Lamborghini was a commercial flop, making it a rare and valuable find today that gained admirers in the desert for its all-terrain style.

Prices for the electric version of a Porsche 911 ST start at £290,000 ($369,000). Photo: Everrati
Prices for the electric version of a Porsche 911 ST start at £290,000 ($369,000). Photo: Everrati

As part of the W Motors tie-up there are plans for experts to work from the UAE company's factory in Dubai Silicon Oasis.

Everrati - the name comes from "ever" as in preserving classic cars for the ages, and Rati, a Hindu goddess of love and desire - also plans to help build W Motors' supercars.

The prestige UAE car maker is known for models including the Lykan HyperSport, its first, and the Fenyr SuperSport.

Custom design

Everrati says it is open to converting more Rambo Lambos, offering what Mr Lunny calls a "very bespoke journey" for the luxury buyer.

"It's all about colours, trims, specifications around audio systems and various different aspects of a vehicle," he said.

"We can really customise this. It really is a hand-built, bespoke electric car that we're creating for people."

The interior of a Porsche 911 (964) RSR. Photo: Everrati
The interior of a Porsche 911 (964) RSR. Photo: Everrati

Mr Lunny, a former financial tech executive, told The National of two events that inspired him to found Everrati.

One was when his daughter, then aged seven, started worrying that the Earth would flood. It got him thinking about clean tech.

The second was the British royal wedding of 2018, when Prince Harry and his wife Meghan drove off in a "just married" electric Jaguar.

Watching the Duke and Duchess of Sussex leave Windsor Castle "gave me the inspiration, as much as anything", Mr Lunny said.

"Yes, it's about climate. I also happen to love cars and happen to love tech, so it made a lot of sense from that perspective."

Planes grounded by coronavirus

British Airways: Cancels all direct flights to and from mainland China 

Hong Kong-based Cathay Pacific: Cutting capacity to/from mainland China by 50 per cent from Jan. 30

Chicago-based United Airlines: Reducing flights to Beijing, Shanghai, and Hong Kong

Ai Seoul:  Suspended all flights to China

Finnair: Suspending flights to Nanjing and Beijing Daxing until the end of March

Indonesia's Lion Air: Suspending all flights to China from February

South Korea's Asiana Airlines,  Jeju Air  and Jin Air: Suspend all flights

RESULT

Valencia 3

Kevin Gameiro 21', 51'

Ferran Torres 67'

Atlanta 4

Josip Llicic 3' (P), 43' (P), 71', 82'

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

RIDE%20ON
%3Cp%3EDirector%3A%20Larry%20Yang%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jackie%20Chan%2C%20Liu%20Haocun%2C%20Kevin%20Guo%3C%2Fp%3E%0A%3Cp%3ERating%3A%202%2F5%3C%2Fp%3E%0A
Boulder shooting victims

• Denny Strong, 20
• Neven Stanisic, 23
• Rikki Olds, 25
• Tralona Bartkowiak, 49
• Suzanne Fountain, 59
• Teri Leiker, 51
• Eric Talley, 51
• Kevin Mahoney, 61
• Lynn Murray, 62
• Jody Waters, 65

UAE currency: the story behind the money in your pockets
ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Vault%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EBilal%20Abou-Diab%20and%20Sami%20Abdul%20Hadi%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EAbu%20Dhabi%3Cbr%3E%3Cstrong%3ELicensed%20by%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Global%20Market%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3EInvestment%20and%20wealth%20advisory%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%241%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EOutliers%20VC%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E14%3Cbr%3E%3C%2Fp%3E%0A
'Operation Mincemeat' 

Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

Rating: 4/5

 

Empire of Enchantment: The Story of Indian Magic

John Zubrzycki, Hurst Publishers

Top%2010%20most%20competitive%20economies
%3Cp%3E1.%20Singapore%0D%3Cbr%3E2.%20Switzerland%0D%3Cbr%3E3.%20Denmark%0D%3Cbr%3E4.%20Ireland%0D%3Cbr%3E5.%20Hong%20Kong%0D%3Cbr%3E6.%20Sweden%0D%3Cbr%3E7.%20UAE%0D%3Cbr%3E8.%20Taiwan%0D%3Cbr%3E9.%20Netherlands%0D%3Cbr%3E10.%20Norway%0D%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO

Tottenham Hotspur 0 Everton 1 (Calvert-Lewin 55')

Man of the Match Allan (Everton)

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Yabi%20by%20Souqalmal%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMay%202022%2C%20launched%20June%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAmbareen%20Musa%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%20u%3C%2Fstrong%3Endisclosed%20but%20soon%20to%20be%20announced%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E12%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eseed%C2%A0%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EShuaa%20Capital%3C%2Fp%3E%0A
Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)

What is THAAD?

It is considered to be the US's most superior missile defence system.

Production:

It was created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

Abilities:

THAAD is designed to take out  ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".

Purpose:

To protect high-value strategic sites, such as airfields or population centres.

Range:

THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

BEETLEJUICE BEETLEJUICE

Starring: Winona Ryder, Michael Keaton, Jenny Ortega

Director: Tim Burton

Rating: 3/5

RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

Updated: August 09, 2024, 6:00 PM