Lamborghini to invest 1.8 billion euros for electrification

According to Chief Executive Stephan Winkelmann, Lamborghini wants to invest at least 1.8 billion euros ($1.88 billion) to manufacture a hybrid lineup by 2024 and more to release its completely electric vehicle by the end of the decade.

In order to transition its existing models, the Huracan and Aventador sports cars as well as the Urus sport utility vehicle, to hybrid gasoline-electric powertrains by the end of 2024, Lamborghini, a division of the Volkswagen Group, said last year that it would invest 1.5 billion euros.

The largest investment in Lamborghini Automobili history, Winkelmann told the newspaper, “We have allocated 1.8 billion, but in fact it will be considerably more,” adding that the sum did not include the cost of creating the completely electric car.

“We must adapt to the complete electric age while upholding the DNA of Lamborghini, therefore the expenditure will be substantial. It will be a really challenging task.”

Lamborghini is struggling with how to switch its portfolio to battery power without sacrificing the high performance that underpins their premium pricing, just as its rivals Ferrari, Aston Martin Lagonda, and McLaren.

Latest articles

‘Family badly affected’: Will Smith’s daughter Willow Smith on 2022 Oscars slap incident

In response to the controversy caused by her father Will Smith's slap row at the Oscars in 2022, singer Willow Smith broke her silence....

In Russia, Kia recalls 105,000 Rio cars

A probable airbag malfunction prompted Kia Corp.'s Russian unit to initiate a voluntary recall of more than 100,000 vehicles on Monday, according to a...

US: Democrats readies $430 billion bill on climate, drugs

A $430 billion climate change, healthcare, and tax measure that would help limit the carbon emissions that cause climate change and lower drug costs...

Covid quarantine stay reduced for travellers in Hong Kong

By reducing the COVID-19 hotel quarantine time for all arrivals from seven to three days, Hong Kong is taking another step toward gradually relaxing...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here