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When it comes to supercars, Lamborghini CEO Stephan Winkelmann admitted his customers prefer a gas-guzzling auto to a fully electric vehicle, blaming a dearth of reliable charging stations in part for the lack of interest.<\/p>\n
The luxury automaker announced in February it had shelved plans for its all-electric Lanzador, a 1,341-horsepower \u201cUltra GT\u201d first announced in 2023. The car, originally slated for a 2029 release, had an estimated price tag of $300,000\u2014about the average pricepoint for a Lamborghini, regardless of power source. Instead, Lamborghini will pivot to developing plug-in hybrid models.<\/p>\n
Lamborghini reported record-breaking earnings on Thursday, including 10,747 deliveries in 2025, its highest ever tally. While the company reached $3.7 billion (\u20ac3.2 billion) in revenue\u2014a 3.3% year-over-year increase\u2014operating income fell to $885 million (\u20ac768 million) from a record of $962 million (\u20ac835 million) in 2024. The company attributed the dented profits to Lamborghini\u2019s pivot away from an EV model, as well as uncertainty around tariffs and an unfavorable U.S. exchange rate.\u00a0<\/p>\n
In an interview with Fortune ahead of the company\u2019s earnings presentation, Winkelmann said part of the sluggish demand for its EV was a lack of developed infrastructure to support all-electric cars on the road.<\/p>\n
\u201cWe have a lot of customers [who] bought electric cars, and they told us\u2014I spoke to a lot around the globe\u2014that in terms of infrastructure, in terms of charging time, in terms of range\u2026it is very disappointing,\u201d Winkelmann said.<\/p>\n
According to an analysis from Motointegrator and DataPulse Research, the European Union has about 910,000 publicly accessible charging stations, despite 3.5 million, or 26%, needed to support the region\u2019s decarbonization efforts. In the U.S., Lamborghini\u2019s largest market, EV charging stations often experience reliability issues, with a Harvard Business School report finding drivers are able to fully recharge their cars using non-residential EV equipment just 78% of the time.<\/p>\n
But customers\u2019 reluctance to buy a luxury EV goes beyond logistical issues. \u201cOn top of that, the emotional part is very important,\u201d Winkelmann said.\u00a0<\/p>\n
EVs lack the roar of a traditional internal combustion engine which has been closely aligned with not just the Lamborghini brand, but sports cars more broadly. The lack of vibrations and noisiness of a gas-powered car was a turn-off for customers with a clear picture in their mind of what a Lamborghini is, Winkelmann noted.<\/p>\n
\u201cYou don\u2019t buy a Lamborghini because you need one, but because you want to have a childhood dream fulfilled,\u201d he added.<\/p>\n
How to make a successful luxury EV<\/p>\n
The luxury car sector has largely struggled to roll out a fully electric car that resonates with consumers. In 2024, Bentley delayed its electric-only goal from 2030 to 2035\u2014and then scrapped that, saying it will offer hybrid vehicles by then. Porsche announced last September it would no longer build its own EV battery and scale back its electrification plans. Premium carmakers such as Stellantis and Ford both took a step back from EVs, taking $26 billion and $19.5 billion charges, respectively, to pivot away from all-electric cars.<\/p>\n
RBC Capital analyst Tom Narayan said it would be an oversimplification to say there\u2019s no demand in the entire sector for high-end EVs, or that the lack of interest in the cars is a result of infrastructure issues.<\/p>\n
\u201cThere are buyers who want electric-high performance vehicles,\u201d Narayan told Fortune. \u201cMaybe that number isn\u2019t as big as what folks thought. Maybe that number is lower, but to say charging infrastructure is a problem, or, nobody wants a luxury EV, I don\u2019t think that\u2019s really accurate.\u201d<\/p>\n
Narayan looks to the highly anticipated Ferrari Luce, the Maranello-based automaker\u2019s EV offering, which will be available to order come late May. Ferrari, which sells about 14,000 cars a year, is able to justify its EV because it can save on research and development for specific components thanks to a connection to its Formula 1 team already heavily investing in parts optimization.\u00a0<\/p>\n
Ferrari is also a standalone company, in contrast to Lamborghini, which is owned by the Volkswagen Group through its subsidiary Audi. Ferrari has to appeal to a wider audience, making it more strategic to have an EV, Narayan noted. Meanwhile, Volkswagen has doubled-down on its EV plans, reviving its Scout Motors brand to appeal to American audiences, despite evidence of cooling demand.<\/p>\n
Because Lamborghini\u2019s ownership is already investing elsewhere in EVs, its own luxury model may not be the most prudent use of resources, Narayan suggested.<\/p>\n
\u201cIn the context of VW Group,\u201d he said, \u201cit may not be necessary for Lamborghini to electrify.\u201d<\/p>\n
#Lamborghini #CEO #disappointing #charging #infrastructure #contributed #demand #EVs<\/p>\n","protected":false},"excerpt":{"rendered":"
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