Italian supercar maker Lamborghini will give up the roar of a combustion engine for the purr of an electric motor.
The Volkswagen-owned luxury brand announced Tuesday that it will transition its fleet of cars to hybrid vehicles this decade, culminating with the debut of its first fully electric car by the end of the decade.
CEO Stephan Winkelmann said in an announcement that by 2024, the company will offer a plug-in hybrid version of each model in its lineup.
The Sant’Agata Bolognese-based company plans to spend about $1.8 billion toward that effort over the next four years, Winkelmann said — the largest investment in Lamborghini’s history.
The business also aims to cut CO2 emissions in half by the beginning of 2025.
“Lamborghini’s electrification plan is a newly-plotted course, necessary in the context of a radically-changing world, where we want to make our contribution by continuing to reduce environmental impact through concrete projects,” Winkelmann said in a statement.
Lamborghini’s announcement comes as its parent company Volkswagen seeks to overtake Tesla as the predominant electric car maker.Lamborghini
Lamborghini’s archrival, Ferrari, already offers a plug-in hybrid model — with chairman John Elkann announcing last month that the company plans to debut