- Italian luxury sports car manufacturer Lamborghini, part of Volkswagen AG VWAGY, is preparing to have at least two supercars powered by e-fuels in its range beyond 2030, Reuters reported.
- In a newspaper interview, Chief Executive Officer Stephan Winkelmann said the company plans to convert its entire fleet to a hybrid between 2023 and 2024, with its first full-electric model expected at the end of the decade.
- "We do not yet know if there will be a large enough quantity of this fuel to meet the needs of all manufacturers," the report quoted Winkelmann.
- Lamborghini, like many of its rivals, including Aston Martin Lagonda Global Holdings Plc ARGGY, Ferrari N.V. RACE, and McLaren, has been forced into finding ways to shift to electric batteries without losing out on performance.
- E-fuels will allow for the modified versions of combustion engines to be used while buying time for a complete switch to battery electric vehicles.
- Price Action: VWAGY shares closed higher by 6.14% at $22.47 on Tuesday.
- Photo Via Wikimedia Commons
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.