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Lamborghini Sees E-Fuel Super Cars In Its Range Beyond 2030: Reuters

Benzinga Real-time News · Jun 1, 2022 06:48

Italian luxury sports car manufacturer Lamborghini, part of Volkswagen AG (OTC: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 (OTC:ARGGY), Ferrari N.V. (NYSE: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.
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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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In Malaysia, investment products and services available through the moomoo app are offered through Moomoo Securities Malaysia Sdn. Bhd. ("Moomoo MY")regulated by the Securities Commission of Malaysia (SC). Moomoo Securities Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.

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