Lamborghini said it has abandoned plans to build an all-electric sports car and will instead prioritize hybrid vehicles, becoming the latest automaker to revamp its electric vehicle strategy amid weaker-than-expected demand for electric vehicles.
Sports car makers such as Porsche and Ferrari have lowered their targets for all-electric vehicles, while mass-market car companies including Stellantis and Ford Motor Co. have recently taken billions of dollars in writedowns on their bets on electric vehicles.
Lamborghini is part of Audi, a subsidiary of Volkswagen. The company said a new model it originally planned to launch as an electric car will be launched as a plug-in hybrid. The company said it will prioritize the development of hybrid technology because the market is not yet ready for the transition to pure electric vehicles.
Lamborghini said it has launched three new models, the Revuelto, Urus SE and Temerario, as part of its roadmap towards an electrified future in 2021, with the first-generation model of a fourth product line set to debut as a plug-in hybrid.
A Lamborghini spokesman said: "After extensive analysis and ongoing dialogue with dealers and customers, it is clear that the adoption of pure battery electric vehicles has slowed significantly, particularly in the luxury supercar segment, where demand remains very limited. In light of these considerations, the product strategy has been adjusted. "
The spokesperson said that from a technical perspective, the automaker is well prepared for pure electric vehicles, but the market is not ready for the transition.
Lamborghini has previously said that the next-generation Urus model, planned for launch in 2029, will also be launched as a plug-in hybrid.
Lamborghini CEO Stephane. Winkelmann said over the weekend that a fully electric car called the Lanzador in 2023 would no longer join the brand's lineup.