Monday, May 29

Lamborghini prepares to ‘retire’ gasoline engines

Lamborghini get ready for the last lap of combustion engines that power coveted models like The Aventador, as the sports car maker changes its line to plug-in hybrids.

The Volkswagen AG brand, with the Aventador, Huracan and Urus SUV models, will present its first production car with a plug next year, before electrifying its entire offering by 2024. For this year, Lamborghini almost sold its entire production following a record delivery during 2021, according to CEO Stephan Winkelmann.

“It will be the last time that we only offer combustion engines”, he said in an interview. The automaker has seen a “very good start” to 2022, it added.

Lamborghini has allocated 1.7 billion dollars for the transition to plug-in hybrids and plans to offer a model powered exclusively by batteries during the second half of the decade.

While supercar brands such as Ferrari NV and Aston Martin Lagonda Global Holdings face an especially delicate task in preserving brand identity in the costly switch to electrification, Lamborghini’s future plans they’re backed by VW’s record spending on new technology.

The manufacturer is still working on a final design for his first electric car, leaning toward a four-door model suitable for everyday use, Winkelmann said.

Lamborghini had earnings before interest and tax margins close to 20 percent for 2021, according to an investor presentation. That compares with returns of just over 25 per cent through the first nine months of last year for Ferrari.