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.