Stephan Winkelmann: Plug-in Hybrids Remain the Right Answer for Lamborghini

As Lamborghini completes the electrification of its core model range through hybrid powertrains, the Italian supercar maker is reassessing the pace of full-electric adoption. Speaking to Autocar Professional on the sidelines of Lamborghini Arena at Imola, Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini, discusses India's growth prospects, the potential impact of the India-EU Free Trade Agreement, the rationale behind delaying the brand's first battery-electric model, and why design, performance and exclusivity remain central to the marque's future.

Lamborghini sold more than 100 cars in India last year. How do you see the market evolving and what is its long-term potential?

Until last year, we had a very good involvement in the Indian market. The development was very positive and we sold more than 100 cars. This year, we have to see. The situation is a bit different because we have new rules in the Indian market for import taxes, and we have to see if this is applying in a positive way for plug-in hybrid cars as well.

Do you see customers holding back purchases while awaiting clarity on the India-EU Free Trade Agreement and its impact on import duties?

It is too early to speak about that because we are now four months into the year. We have to see how they are going to behave because the rules have to be very clear. Then, I think there is an opportunity for further development in the Indian market.

There are significant uncertainties across global markets today. What is your assessment of the year ahead?

After the launches of the Revuelto, the Urus SE and now the Temerario, we said we have to reach a plateau in terms of growth because now we have renewed the entire line-up. For sure, all the things happening around the globe and all the uncertainties are not making a forecast very easy.

Lamborghini has electrified its core line-up through hybrid powertrains, but delayed its first battery-electric model. What is the rationale behind that decision?

We are working on a fourth model and this fourth model is going to be a plug-in hybrid car as well. Before, the idea was to have a battery-electric vehicle.

We have seen that in recent years, the acceptance curve of electric cars, especially for our type of segment, has been going down in terms of customer acceptance. So, we thought it was best to postpone this. We are continuing to work on our capability to develop full-electric cars, but for the time being, we think it is important to have the fourth model as a plug-in hybrid.

As customer expectations evolve, how do you balance Lamborghini's heritage with growing demand for technology and innovation?

You cannot survive on legacy. What we need is to have strong roots in history. We are in the territory, here today in Imola as well, in Emilia-Romagna, which is the region we come from, the Terra dei Motori. Our factory is very close to here.

On one hand, this continues to be paramount for success. But even more important is focusing on brand, technology and design development.

You always have to fulfil the dreams of customers. You have to exceed what they expect. We are not selling mobility; we are selling dreams.

Does the rapid pace of technological change make it more challenging to create products with enduring appeal?

For sure, we have to be very careful and we always have to pay very close attention to how technology is changing. But we also have to focus on those aspects which are key for Lamborghini, which are design and performance. This is not going to change in the future.

How do you ensure that today's products earn the same status as some of Lamborghini's most iconic models?

The future will tell. We can only do the best we can. The acceptance of those cars today is a good indicator of how they are going to be perceived in the future.

Scarcity on one hand and residual values on the other are also key indicators of how these cars are going to be seen in Lamborghini's future story.

Once there is greater clarity on the India-EU Free Trade Agreement and the regulatory framework, do you see India becoming a bigger growth opportunity for Lamborghini?

I think India has huge potential which is still untapped. Let us wait until the regulations are clear and transparent, and then we can focus on it.