This post was originally published on this site
https://fortune.com/img-assets/wp-content/uploads/2024/05/GettyImages-2150502790-e1716160871900.jpg?w=2048
Lamborghini SpA is holding off for now on making its roaring sports cars fully electric as skepticism around the technology grows.
While performance won’t be an issue in an EV, some emotional aspects — like the sound of the Huracan’s V10 engine — can’t be replicated, said Lamborghini boss Stephan Winkelmann. The Volkswagen AG-owned brand also remains open to use e-fuels if regulation becomes more favorable.
Fully electric sports supercars “is not something that is selling so far,” Winkelmann said in an interview. “It’s too early, and we have to see down the road if and when this is going to happen.”
It’s a tense time in the high-end automotive sector, which is deliberating how to deal with regulatory pressure to lower emissions as demand for EVs slows and governments scale back subsidies for the technology. Mercedes-Benz Group AG has stopped development of separate underpinnings for electric luxury sedans to save money and plans to sell cars running on gasoline longer than expected.
Lamborghini’s rival Ferrari NV is further along in its electrification push, and next month plans to open a factory that will make hybrid and electric supercars in Maranello, Italy. Its first fully electric model is due next year.
BYD Co. has beaten both to the punch after unveiling a 1.68 million yuan ($232,452) electric sports car in February. The Yangwang U9 will initially be sold only in China, where Lamborghini’s exposure is “limited,” Winkelmann said.
Lamborghini has had success selling plug-in hybrids including the Revuelto sports car, but its first fully electric model — the two-door Lanzador crossover — won’t arrive until 2028.
Still, the automaker is overhauling its supply chain and production to by 2030 produce Lamborghinis with 40% fewer carbon dioxide emissions than currently, Winkelmann said. When it comes to synthetic fuels, the brand is benefiting from work at Porsche, another luxury-car maker in Volkswagen’s portfolio.
E-fuels could come into greater focus in two years, when the European Union will review its plan to effectively ban new combustion-engine car sales by 2035.
“There might be an opportunity if things change,” Winkelmann said.
