Lamborghini delays first EV launch for 2029

Lamborghini, the Italian luxury sports car manufacturer, has affirmed its commitment to producing vehicles in Italy, with plans to introduce its inaugural electric model in 2029.

Stephan Winkelmann, CEO of Lamborghini, emphasized the company's strategy during a press briefing on Monday at the headquarters in Sant'Agata Bolognese. According to Winkelmann, the luxury sports car segment is not yet ready for full electrification, which justifies the 2029 timeline for their first electric vehicle (EV).

The automaker, which operates under the Volkswagen (ETR:VOWG_p ) group, had previously indicated that its first EV would arrive in 2028. In contrast, Ferrari (NYSE:RACE ), Lamborghini's Italian competitor, is on track to release its first EV in the first quarter of the upcoming year. Winkelmann highlighted that the market for Lamborghini's category of cars would likely not be prepared for electric options as early as 2025 or 2026.

Lamborghini has already transitioned to a hybrid model lineup this year, featuring the Urus SE SUV, the Revuelto, and the newly presented Temerario sports car, which carries a base price tag exceeding €300,000, not including value-added tax.

The CEO pointed out that Lamborghini is not rushing towards electrification, partly due to the regulatory environment in the European Union. The EU is set to review its ban on the sale of new internal combustion engine cars from 2035 in 2026, which could provide more clarity on the future of synthetic fuels—an area of interest for Lamborghini.

Reaffirming the brand's roots, Winkelmann stated that Lamborghini vehicles will always be manufactured in Italy, dismissing any speculation about a potential spin-off from Volkswagen.

In light of the recent U.S. presidential election and President Donald Trump's threats of new tariffs on European products, Winkelmann did not speculate on potential business impacts, but he was clear about the brand's production loyalty: "We cannot think of a Lamborghini being manufactured outside of Italy or of Sant'Agata."

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Source: Investing.com