Lamborghini intends to invest EUR 1.8 billion in the production of a hybrid lineup by 2024, Il Sole 24 Ore reported, citing the supercar brand’s Chief Executive Officer Stephan Winkelmann.
The Italian company plans to invest even more in a fully electric model by the end of the decade.
“We have earmarked 1.8 billion, but in reality it will be much more – the biggest investment in the history of Lamborghini Automobili,” the CEO told Il Sole 24 Ore.
Yet, that figure does not include the development of the entirely electric model, Winkelmann said.
“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.”
In 2021, Lamborghini, which is part of the Volkswagen Group, had announced plans to invest EUR 1.5 billion to shift its Huracan and Aventador sports car models as well as its Urus sport-utility vehicle model to hybrid gasoline-electric powertrains by the end of 2024.
As of 11:11 GMT on Friday the shares of Volkswagen AG (VOWG) were retreating 0.98% (EUR 1.70) on the day, while extending losses from the prior two sessions, to trade at EUR 172.20 in Frankfurt.