Active Stocks
Wed Apr 24 2024 11:17:36
  1. Tata Steel share price
  2. 163.90 1.74%
  1. ITC share price
  2. 430.50 0.30%
  1. Power Grid Corporation Of India share price
  2. 288.70 1.30%
  1. NTPC share price
  2. 350.00 0.89%
  1. HDFC Bank share price
  2. 1,515.70 0.56%
Business News/ Auto News / For Lamborghini sports cars, combustion engines an opportunity beyond 2030
BackBack

For Lamborghini sports cars, combustion engines an opportunity beyond 2030

Lamborghini closed 2023 recording its highest ever sales (10,112 cars), turnover (€2.66 billion), operating profit (€723 million), and return on sales (27.2%).

In India, Lamborghini sold more than 100 cars last year, a record, driven by stable taxation, a growing young demographic, and a high number of Indian customers buying Lamborghinis abroad.Premium
In India, Lamborghini sold more than 100 cars last year, a record, driven by stable taxation, a growing young demographic, and a high number of Indian customers buying Lamborghinis abroad.

New Delhi: Lamborghini sees a future for super sports cars with internal combustion engines well beyond 2030, even as the Italian carmaker embarks on electrifying its entire portfolio by 2024.

In the backdrop of 'commoditization' of acceleration-related performance in the electric era, Stephan Winkelmann, chief executive officer, told Mint that Lamborghini's strategy will be to leverage hybrids and combustion engines for supercars "for as long as possible".

Lamborghini closed 2023 recording its highest sales (10,112 cars), turnover (€2.66 billion), operating profit (€723 million), and return on sales (27.2%), the company said. 

In India, Lamborghini sold more than 100 cars last year, a record, driven by stable taxation and a young demographic profile. A high number of non-resident Indians buying Lamborghinis abroad have also spurred sales in India.

Winklemann said that in 2024, sales in India could exceed the 2023 record of 103 cars sold, helped by a strong order bank of cars, but conceded temporary delays due to the global shipping crisis. 

"So, there will be or there were some delays now at the beginning of the year, but this (shipping delays), but this will be adjusted in a way that there should be no further delay for the whole year taken together", he said.

Lamborghini will unveil the Urus plug-in hybrid at the Beijing Auto Show in China next month.

Winkelmann acknowledged the slower pace of EV adoption compared to initial industry projections, outlining that Lamborghini's strategy to push for hybrids will "safeguard" aspects of power, crucial for a luxury sports car maker, as well as lower emissions which are driven by regulation. 

"The first phase of hybridisation is safeguarding both, you have more power, you have less emissions and you still have sound of combustion engine", Winklemann said, adding, “We have two strategies going in parallel: one, for the daily driveable cars, we will shift to electrification sooner than for the super sports cars. For super sports cars, we will keep the doors open as long as possible to continue to have internal combustion engines together with the battery. We think that this is a very good opportunity also after 2030."

Winkelmann sees plug-in hybrids facing no issues in India, given the prevalence of home charging stations among luxury car buyers. He also highlighted the super cars' ability to recharge batteries quickly while driving. He said he is confident that by the end of the decade, India, along with other markets, will be more receptive to fully electric cars. Interestingly, JSW MG Motor India recently also unveiled plans to introduce plug-in hybrids in India.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Alisha Sachdev
Alisha Sachdev reports on the auto and mobility sector, with a special focus on emerging clean mobility technologies.
Catch all the Auto News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 26 Mar 2024, 07:48 PM IST
Next Story footLogo
Recommended For You
Petrochemical Stocks
₹8,792.750.38%
₹4,343.050.33%
₹2,062.30.48%
₹12,993.7-0.04%
₹986.60.4%
Switch to the Mint app for fast and personalized news - Get App