Luxury sports car and SUV maker Lamborghini has said its first fully electric model will roll out after 2025 but no later than 2030.
Interestingly for a carmaker that predominantly makes two-seater vehicles, Lamborghini President and CEO Stephan Winkelmann said the new model will be a daily vehicle for four people, without giving more details.
In the meantime, the company will make all its existing models into plug-in hybrids by 2024, and the first of them will be unveiled in 2023.
The executive said Lamborghini will invest over 1.5 billion euros ($1.83 billion) for the hybrids, which will be the largest single investment in the history of the brand since its founding in 1963.
"It's clear that we all agree to pursue the big challenge of the future, not only for the automotive industry, but also for the reduction of CO2 emission globally," said Winkelmann.
"This is hard for automotive companies. It's even more difficult for a super sports car company, because we need to reduce emission and produce better models than what we have today."
Its headquarters in Sant'Agata Bolognese has become carbon neutral since 2015. Winkelmann said the company's internal target is to reduce product CO2 emissions by 50 percent by the beginning of 2025.
"The ultimate driving experience is on top of everything else. With batteries in our cars, we want to achieve this as well. This is something we need to prove; we will do and it will be successful," said Winkelmann.
He said electrification will present more opportunities than challenges, as it will be more difficult to stay in the market if vehicles don't meet emissions standards.
"We have asked our customers about how they feel about hybridization in the future. They say if it is compliant and is needed for a better performance, then just do it."
Last year, despite a 70-day lull in production because of the COVID-19 pandemic, Lamborghini achieved its second-best year in terms of sales and the best-ever year in terms of profitability.
A total of 7,430 vehicles were delivered, generating a turnover of 1.61 billion euros, and China was its third largest market after the United States and Germany.
The carmaker is expected to have an even better 2021, as orders placed by March had covered the first nine months of production this year.