- 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.
- Photo Via Wikimedia Commons
