🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Lamborghini sells out combustion engine models - WELT

Published 05/07/2023, 04:04
Updated 05/07/2023, 04:06
© Reuters. FILE PHOTO: A Lamborghini Urus is pictured during the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Benoit Tessier
VOWG_p
-

(Reuters) - Lamborghini's combustion engine models are sold out until the end of production, its chief executive was quoted as saying in the WELT newspaper on Wednesday, as the luxury carmaker transitions towards a pure hybrid lineup.

Order books for its Hurucan and Urus models are full, marking the end of combustion engine vehicle production for the company, Stephan Winkelmann, head of the Volkswagen (ETR:VOWG_p) subsidiary, said.

Lamborghini announced last July it would be investing at least 1.8 billion euros ($2 billion) to produce a hybrid lineup by 2024 and more to bring out its fully electric model by the end of the decade.

Winkelmann told WELT the combustion engine models would be replaced by plug-in hybrids in 2024 and 2025, adding he expected the hybrid Revuelto model to be sold out by the end of 2025.

© Reuters. FILE PHOTO: A Lamborghini Urus is pictured during the second press day of the Paris auto show, in Paris, France, October 3, 2018. REUTERS/Benoit Tessier

The carmaker saw record sales last year and was aiming for a "very good result" this year again, he added.

($1 = 0.9175 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.