Lamborghini to spend $1.8 billion to develop first electric car by 2030

Italian supercar maker Lamborghini announced plans to spend $1.8 billion to electrify their lineup and launch their first fully electric vehicle by the year 2030.

The plans were revealed by CEO Stephan Winkelmann on Tuesday, which showed the company’s path to “decarbonize” its future models.

Lamborghini’s shift to electrification begins with what it is calling its ‘hybrid transition’ phase. Starting in 2023 it will launch its first plug-in hybrid production car. All of its current vehicles, from the high-powered Aventador to the Urus SUV, will be offered in a plug-in hybrid option by the end of 2024.

By the beginning of 2025, the company hopes to reduce CO2 emissions by 50%.

The next phase will be a transition to fully electric vehicles. The company will spend an “unprecedented” $1.8 billion to develop and launch their first fully electric vehicle by 2030.

“The second part of the decade will be dedicated to full-electric vehicles, oriented towards ensuring remarkable performance, and positioning the new product at the top of its segment,” the company said.

The plans seem a little late, especially when considering their rival Ferrari plans to release their first electric vehicle by as early as 2025.

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