Lamborghini delays launch of first electric car until 2029

In a strategic decision that reflects the unique needs of the luxury sports car market, Italian Lamborghini has announced plans to launch its first electric model in 2029. According to Reuters, the move shows that Lamborghini is taking a cautious approach to electrification, with CEO Stephan Winkelmann emphasizing that the market is not ready for a comprehensive electrification revolution in the sports car segment.

Lamborghini, a subsidiary of automotive giant Volkswagen, initially planned to release its first electric vehicle (EV) in 2028. The decision contrasts with its Italian rival Ferrari, which plans to launch its electric car lineup early next year. Winkelmann detailed the timeline at a press conference at Lamborghini’s headquarters in Sant’Agata Bolognese near Bologna, claiming “we believe that in our segment the market will be in 2025 or Ready in 2026.”

Italian Passenger Car Market in 2023

IndexBox platform data shows that Italian passenger car exports will reach US$21.2 billion in 2023. The United States was the largest export destination with a value of $5.3 billion, followed by Germany ($3.7 billion) and France ($2.2 billion). At the same time, Japan and the United Kingdom have also become important export markets, exporting US$932.1 million and US$1 billion respectively.

The import situation tells an equally fascinating story, with Italy importing passenger cars worth $37.7 billion in 2023. Germany ranked first as a source of imports, contributing US$11.4 billion, followed by Spain and Poland, with US$5.2 billion and US$2.3 billion respectively. In addition, France and the United Kingdom were also significant contributors, with imports of US$2.2 billion and US$1.8 billion respectively.

The data highlights Italy’s strong participation in the global automotive market, emphasizing high-value exports and large imports in the passenger car sector, reinforcing its position as a key player in the international automotive industry.

Source: IndexBox Market Intelligence Platform