Lamborghini Kills Plans for All-Electric Supercar Because the Market Has ‘Close to Zero’ Interest in Electric Vehicles
Lamborghini is killing its plans for an all-electric supercar. Why? Because it’s CEO says the brand’s target market has “close to zero” interest in EVs.
Stephen Winkelmann, chairman and CEO of Lamborghini, said “after over a year of continuous internal discussion, engaging with customers, dealers, market analysis and global data,” the automaker’s development of an electric vehicle risked becoming nothing more than “an expensive hobby.”
He told The Sunday Times the “acceptance curve” for battery-powered cars in Lamborghini’s target market was flattening and “close to zero.” Therefore, the company’s planned EV, the Lanzador, is not happening.
“EVs, in their current form, struggle to deliver this specific emotional connection,” he explained.
Winkelman added, “Investing heavily in full-EV development when the market and customer base are not ready would be an expensive hobby, and financially irresponsible towards shareholders, customers [and] to our employees and their families.”
He’s Not Wrong, at Least Based on One Study
Recently, German research organization, the Fraunhofer Institute, found in a study of almost a million plug-in hybrid electric vehicles (PHEVs) found that they consume three times as much fuel as manufacturers claim.
As troubling as that may be, that’s not the part that affects companies like Lamborghini though. The part that affects luxury car manufacturers is that the study found that plug-in hybrid EV owners of luxury car brands almost never charge their vehicles. In fact, the top three the least-charged vehicles were Porsche, Ferrari, and Bentley.
Winkelmann did add that Lamborghini isn’t completely giving up on electric vehicles. They are just going to make them with internal combustion engines.
“Plug-in hybrids offer the best of both worlds, combining the agility and low-rev boost of electric battery technology with the emotion and power output of an internal combustion engine,” said Winkelmann.
