Lamborghini To Invest $1.88 Billion To Produce Plug-in hybrids By 2024

Lamborghini to invest at least $1.88 billion in path towards electrification of its current lineup.

The investment, the Italian brands biggest ever, will be used to produce a hybrid lineup by 2024.

The figure did not include the cost to develop fully electric models by the end of the decade.

The Italian brand’s current lineup includes the Huracan and Aventador sports cars, and the Urus SUV.

It plans to shift its lineup to battery power without losing the high-performance that supports their premium pricing.

Italian sports carmaker Lamborghini plans to invest at least 1.8 billion euros ($1.88 billion) to produce a hybrid lineup by 2024 and more to develop fully electric models by the end of the decade.

Citing Reuters report, Chief Executive Stephan Winkelmann told Il Sole 24 Ore that the company is making its biggest investment ever, adding that the figure did not include the cost to develop fully electric models.

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“We have earmarked 1.8 billion, but in reality it will be much more – the biggest investment in the history of Lamborghini Automobili”

“The investment will be huge because we have to face the full electric era while maintaining the values of Lamborghini’s DNA. It will be a very difficult challenge.”

Last year, Lamborghini, part of the Volkswagen Group, said it would invest 1.5 billion euros to shift its current models to hybrid gasoline-electric powertrains by the end of 2024. The Italian brand’s current lineup includes the Huracan and Aventador sports cars, and the Urus SUV.

Lamborghini, like its rivals Ferrari, Aston Martin Lagonda and McLaren, plans to shift its lineup to battery power without losing the high-performance that supports their premium pricing.

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