Lamborghini begins farewell to pure ICE vehicles this year

Lamborghini is in its last year of selling only pure combustion engines in models such as Aventador as the sports-car maker switches its lineup to plug-in hybrids.

The Volkswagen Group brand will unveil its first production car with a plug next year before electrifying its full offering by 2024. For 2022, Lamborghini has almost sold out its entire production run following record deliveries in 2021, CEO Stephan Winkelmann said.

Lamborghini said it delivered 8,405 vehicles globally last year, up 13 percent. Sales in Europe, its largest region, rose 12 percent.

“It will be the last time that we only offer combustion engines,” Winkelmann said in an interview. The carmaker has seen a “very good start” to 2022, he said. 

Winkelmann said Lamborghini plans to unveil four new products in 2022 as it moves to hybridize its lineup.

Lamborghini has allocated a record 1.5 billion euros ($1.7 billion) for the shift to plug-in hybrids, and plans to offer a full-electric model in the second half of the decade. While other supercar brands like Ferrari and Aston Martin face an especially delicate task to preserve brand identity in the costly shift to electrification, Lamborghini’s future plans are underpinned by VW’s record spending on new technology.  

Lamborghini is still working on a final design for its first electric car and is leaning toward a four-door model suited for daily use, Winkelmann said.

According to an investor presentation, Lamborghini is expecting 2021 earnings before interest and tax margins (EBIT) to approach 20 percent. That compares with returns of just over 25 percent during the first nine months of last year for Ferrari.

Full-year earnings, due to be reported in March, should be “in a range that surprises everyone,” Winkelmann said. “Surprising to everyone in a positive sense.”