It looks like electric vehicles are the new standard in today's automotive industry, and it's not just middle-tier brands that are making the move to green. Luxury brands such as Jaguar, Bentley, and now Lamborghini are all jumping on the bandwagon, with massive budgets set aside for the large-scale transitions. But what's driving this sudden shift? Well, there could be a couple of reasons for this.
There is clearly an innovation boom going on, as companies like Tesla continue to push the boundaries of high-performance engineering. Many automakers seem to be enticed by the challenge, so it could all just be a prestige war. Or, it could be that these companies are genuinely trying to do their part in the fight climate change, offering their customers new options to help them reduce their carbon footprints. Or maybe, it could just be that their line-up of vehicles are already expensive, so it doesn't really matter how far they push the limit.
For Lamborghini, the shift is a "landmark transformation" that will see the company's full commitment to all-electric vehicles by the second half of the decade. As always, it promises to put forward quality products with "remarkable performance."
Stephan Winkelmann, the CEO of Lamborghini, unveiled a "Direction cor Tauri" strategic plan that outlined a $2.35 billion investment over the next four years. Such is the largest investment ever in the history of the brand. The initiative will be divided into three phases, including a gradual farewell to the internal combustion engine, then the development of the first hybrid Lamborghini by 2023, and lastly, the announcement of a fully-electric, zero-emissions model.
"Lamborghini’s electrification plan is a newly-plotted course, necessary in the context of a radically-changing world, where we want to make our contribution by continuing to reduce environmental impact through concrete projects," said Winkelmann. "Our response is a plan with a 360 degree approach, encompassing our products and our Sant’Agata Bolognese location, taking us towards a more sustainable future while always remaining faithful to our DNA."
One of the challenges the company will face is figuring out which markets to focus their efforts on. Currently, 95% of Lamborghini vehicles are exported to markets across the globe; however, not all of them will be "equally ready for the electric revolution." For now, they have their sights on two mature markets: Asia, which is ready for the legislation, and Northern Europe, which is ready for the culture.
Early development is currently underway at the company's research facilities to get the plan into motion.
