Liberty Electric Cars, a newly formed company, is developing a new electric engine, which will first be used in a Range Rover.

Ian Hobday has been appointed as the new sales and marketing director for the new business and will oversee the launch of this new model, which will target buyers around the London congestion charge zone.

Barry Shrier, Liberty founder and CEO believes annual production of the electric Range Rover will reach tens of thousands and create 250 new jobs.

The company also plans to apply the technology to other vehicles and will make it commercially available to commercial fleets and taxis.

Shrier previously worked as managing director at Deutsche Bank, where he developed the mobile payment system – Pay Box. He is also a non executive director of Washington-based satellite technology company Leo Terra.