Supercar maker Lamborghini is the latest auto company to make the switch from combustion engines to electric.
Lamborghini, which is owned by Volkswagen AG, revealed on Tuesday that it will begin offering a plug-in hybrid version of its entire supercar lineup by 2024. The carmaker is also expected to launch its very first fully-electric vehicle by the second half of the decade. According to Lamborghini CEO Stephan Winkelmann, the brand is planning to spend $1.8 billion to develop the new environmentally-conscious fleet, that, beginning in 2025, will cut its emissions in half. The latest outlay is expected to be largest ever for the automaker.
“The reduction of the COâ‚‚ emissions is interesting to the big brands of the automotive industry, but it’s even more difficult and even more impacting for a super-sports-car manufacturer like Lamborghini,” Winkelmann explained to Bloomberg News in an interview. “You need to reduce the emissions, but on the other hand you have to stay a performance-oriented, super-sports-car manufacturer without any doubt. So it’s a big challenge for us. In a very simple way, you have to change everything not to change anything,” he added.
Lamborghini has previously entertained the idea of going electric, but has remained mum on those plans until now. Back in 2014, the automaker debuted a hybrid version of the Asterion at the Paris auto show, but has refrained from releasing further details since then. Winkelmann told Bloomberg that the latest all-electric model will likely have two doors and four seats, but the complete configuration of the vehicle has yet to be finalized.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
