Lamborghini to invest at least 1.8 billion euros in path towards electrification

MILAN, July 1 (Reuters) – Italian supercar brand name Lamborghini programs to invest at minimum 1.8 billion euros ($1.88 billion) to generate a hybrid lineup by 2024 and a lot more to bring out its totally electric model by the stop of the decade, Chief Govt Stephan Winkelmann instructed Il Sole 24 Ore.

Lamborghini, part of the Volkswagen Group (VOWG_p.DE), mentioned very last yr it would make investments 1.5 billion euros to shift its present types – the Huracan and Aventador sports vehicles, and the Urus activity utility – to hybrid gasoline-electrical powertrains by the end of 2024.

“We have earmarked 1.8 billion, but in reality it will be much much more – the most significant expense in the record of Lamborghini Automobili,” Winkelmann told the paper, including that the determine did not involve the improvement of the absolutely electric product.

“The financial commitment will be enormous simply because we have to experience the entire electrical era although maintaining the values of Lamborghini’s DNA. It will be a extremely difficult challenge.”

Like its rivals Ferrari (RACE.MI), Aston Martin Lagonda (AML.L) and McLaren, Lamborghini is wrestling with how to change its lineup to battery electricity without having shedding the large efficiency that supports their top quality pricing.

($1 = .9555 euros)

Reporting by Agnieszka Flak Enhancing by Jan Harvey

Our Benchmarks: The Thomson Reuters Have faith in Ideas.