Italian sportscar manufacturer Lamborghini will continue using internal combustion engines for at least another decade, citing declining customer enthusiasm for battery-powered vehicles among luxury buyers.
Chief Executive Stephan Winkelmann told the media that customers still desire the sound and emotional experience traditional engines provide, allowing Lamborghini to focus on hybrid powertrains instead of full electrification. The automaker plans to decide within weeks whether its planned Lanzador grand tourer will be fully electric or adopt plug-in hybrid technology.
It has already postponed an all-electric successor to its Urus luxury SUV from 2029 to no earlier than 2035, reflecting a strategic recalculation about market readiness for battery-powered supercars. Winkelmann described the shift as a response to changing market conditions as interest in electric vehicles among high-end purchasers continues to weaken.
Maintaining combustion engines for ten additional years, he argued, will be key to the company’s success as luxury supercar buyers still value the auditory and visceral experience exclusive to gasoline motors.
Lamborghini currently produces three main vehicle models. The Temerario and Revuelto supercars combine powerful gasoline engines with electric motors as plug-in hybrids and are capable of brief all-electric operation. The Urus SUV is available as both plug-in hybrid and conventional gasoline configurations, accounting for more than half of company sales even though it is less showy than the supercar lineup.
A limited-edition Fenomeno reaching speeds exceeding 215 miles per hour will see only 30 units built at approximately $2.7 million each before taxes.
This approach is in sharp contrast with Ferrari, another Italian luxury supercar manufacturer with plans for its first battery-powered vehicle. Ferrari’s Elettrica will be unveiled next year, with Ferrari Chief Executive Benedetto Vigna promising driving characteristics unique to customer hearts and souls. The plan is to position the all electric model alongside conventional and hybrid offerings instead of replacing them entirely.
Despite abandoning plans to become fully electric, Lamborghini CEO Winkelmann insists the automaker remains socially responsible due to its low production volumes. The company sells roughly 10,000 vehicles annually in a global market that produces 80 million cars, meaning its carbon dioxide emissions contribute minimally to worldwide automotive pollution.
European Union and United Kingdom regulations currently mandate ending new gasoline and diesel car sales, including plug-in hybrids, by 2035. However, some European manufacturers are lobbying fiercely for additional transition time in acknowledgement of current industrial and geopolitical realities. If successful, combustion engines could remain available beyond the existing deadline, giving Lamborghini more time to execute its hybrid strategy.
The drop in consumer interest in EVs in different markets is driving various actors like Massimo Group (NASDAQ: MAMO) to quickly adapt to the changing market realities in order to keep moving towards the attainment of their long-term goals.
About GreenCarStocks
GreenCarStocks (“GCS”) is a specialized communications platform with a focus on electric vehicles (“EVs”) and the green energy sector. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled recognition and brand awareness. GCS is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from GreenCarStocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.GreenCarStocks.com
Please see full terms of use and disclaimers on the GreenCarStocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer
GreenCarStocks
Los Angeles, CA
www.GreenCarStocks.com
310.299.1717 Office
Editor@GreenCarStocks.com
GreenCarStocks is powered by IBN
Electric vehicles used for e-commerce deliveries could dramatically reduce urban emissions as online shopping continues…
China established dramatically stricter eligibility criteria for new energy vehicle purchase tax exemptions, implementing comprehensive…
After years of supporting American electric vehicles, federal tax credits purchases ended on October 1st…
Chinese automaker BYD reported an 880% year-over-year sales increase in the UK during September, making…
Germany will continue exempting electric vehicles from motor-vehicle taxes until 2035, a move the government…
British battery electric vehicle sales surged nearly one-third in September compared to the previous year,…