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Lamborghini will invest a minimum of 1.8 billion euros in electrification. – paper

MILAN (Reuters) – Lamborghini CEO Stephan Winkelmann told Il Sole 24 Ore that Lamborghini wants to invest at least 1.8 billion euros ($1.88 billion) to manufacture a hybrid lineup by 2024 and more to release a completely electric vehicle by the end of the decade.

Lamborghini, a subsidiary of the Volkswagen Group (ETR: VOWG p), announced last year that it will invest 1.5 billion euros to convert its current models-the Huracan, Aventador, and Urus-to hybrid gasoline-electric powertrains by 2024’s end.

The largest expenditure in the history of Lamborghini Automobili, Winkelmann told the paper, adding that the amount does not cover the development of the completely electric model.

“The expenditure will be enormous because we must face the whole electric era while keeping Lamborghini’s core values.” It will be a really challenging task. “

Lamborghini, like its rivals Ferrari (NYSE:RACE), Aston Martin Lagonda, and McLaren, is pondering how to transition its lineup to battery power without sacrificing the high performance that underpins their premium pricing.

($1 = 0.9555 euros)

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