All posts tagged: lamborghini

Lamborghini EV Lanzador Bites The Dust As Electrified Supercar Demand Hits “Close To Zero”

Lamborghini EV Lanzador Bites The Dust As Electrified Supercar Demand Hits “Close To Zero”

Big legacy U.S. and European automakers are frantically dialing back their electric vehicle bets, scaling back once-hyped roadmaps to full electrification as demand for these vehicles implodes. The latest automaker to reverse course is not a mass-market sedan or SUV maker, but a luxury supercar brand: Lamborghini. CEO Stephan Winkelmann told the UK’s The Sunday Times that he has ended plans to build EVs, saying customers are not seeking quiet supercars and that demand has collapsed. Winkelmann said that EV development risked becoming “an expensive hobby” for the car company. He stated that the previously announced all-electric concept car, Lanzador, will no longer be part of its future lineup of supercars. He noted that the “acceptance curve” for EVs in Lamborghini’s target market was flattening and “close to zero.” Winkelmann said the Lanzador will be replaced by a plug-in hybrid electric vehicle. He added that the Italian carmaker will produce internal combustion engines “for as long as possible.” “EVs, in their current form, struggle to deliver this specific emotional connection,” Winkelmann explained, pointing out that …

Lamborghini is the Latest Automaker to Pull the Plug on Luxury EVs

Lamborghini is the Latest Automaker to Pull the Plug on Luxury EVs

I ask if Winkelmann can explain why luxury EVs are failing so badly when lower price points in the sector are doing so well. “First of all, there is no need to buy a car like Lamborghini. Then, for sure, there is the experience with electric cars on purchase price, resale value and residual value, and also in terms of technology.” Here Winkelmann is referring to the eye-watering drops in value some high-end EVs are experiencing, with brands like Porsche losing up to half the car’s value in just a year. Meanwhile, other marques had lux EVs that lost more than $600 each day. “Then there is the fact that technology, in the eyes of our customers, is going to be obsolete in 10 years from now,” says Winkelmann, “because there’s a lot of new tech. This is the idea of the majority of our customers, and the experience they have had with electric cars, even in different segments, and charging times.” Winkelmann says he does not know if fast-charging and high-capacity solid state battery …