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The Lamborghini will cancel its plan to release an electric car in 2028 due to what the company calls a lack of consumer demand.
Lamborghini CEO Stephan Winkelmann spoke to him The Sunday Times in an interview he said that the EV will no longer join his program after the company’s analysis found little demand for the EV, named Lanzador in 2023. The company is owned by Volkswagen through its subsidiary, Audi.
Winkelmann told the Sunday Times that the “acceptance curve” for EVs in Lamborghini’s target market is “close to zero” and low amid lack of interest from customers for the luxury vehicle.
He added in the interview that EV development risks becoming “a very expensive hobby” for Lamborghini and that the automaker plans to make traditional internal combustion vehicles “for as long as possible.”
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The Lamborghini Revuelto electric supercar, left, and the Lamborghini Lanzador electric car on the opening day of the Geneva International Motor Show Qatar 2023, in Doha, Qatar. (Christopher Pike/Bloomberg via Getty Images)
Winkelmann said Lamborghini customers they value an “emotional experience” with their cars and that “EVs, in their current form, strive to deliver this emotional connection,” he told the outlet.
As Lamborghini cancels plans to move forward with an EV, the company plans to replace it in the lineup with plug-in hybrid electric vehicle (PHEV).
When asked in an interview if the company will ever have an EV in its lineup, Winkelmann told the outlet, “Never say never, but only when the time is right. For the foreseeable future, only PHEVs. We will continue to develop electrification because we need to be ready as well.”
LAMBORGHINI SET ANOTHER 2022 SALES RECORD AND 2024 SALES
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| VWAGY | The company VOLKSWAGEN AG | 12.03 | +0.20 |
+1.69% |
Lamborghini’s plan to not continue to include EVs in its lineup for the foreseeable future comes as other major automakers have taken a financial toll on changing their EV roadmaps due to weaker than consumer expectations.
Stellantis, the parent company of brands such as Chrysler, Dodge, Jeep and Ram, announced a $26.5 billion charge earlier this month as it cuts its EV production.
Stellantis CEO Antonio Filosa he said the “strategic reset” came after the company’s previous projections about demand for EVs were “too optimistic.”
GM TAKES $7B HIT AFTER SWITCHING EV STRATEGY DUE TO REDUCED DEMAND
Lamborghini CEO Stephan Winkelmann next to the Lamborghini Lanzador electric concept during The Quail, A Motorsports Gathering in Carmel, Calif., Aug. 18, 2023. (David Paul Morris/Bloomberg via Getty Images)
General Motors took a $7 billion charge after it adjusted its EV strategy to deal with weak demand.
Ford CEO Jim Farley earlier this month he said “the customer has spoken” when discussing a net loss of $11.1 billion in the fourth quarter amid a major write-down of its EV plans.
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