Interview with Lamborghini CEO Stephan Winkelmann: The Timing is Perfect!
“Direzione Cor Tauri” is what the Italians call their strategy and the roadmap towards decarbonization and electrification, announced back in October 2021. From 2025 onwards, CO2 emissions should be at least halved. And for those whose hearts are breaking, be reassured: “Cor Tauri” is Latin for Bull's Heart. It is also the name of the brightest star in the Taurus constellation, meant to guide the brand towards an electrified future. An electric motor instead of a V8, V10, and V12? CEO Stephan Winkelmann tries to calm the hardcore faction: “Lamborghini's electrification plan is a course change that has become inevitable due to a radically changed environment. We want to contribute and gradually reduce our environmental impact through concrete projects.” We wanted to delve deeper and met with Stephan Winkelmann at Auto China in Beijing.
How did the decision come about to present the Urus PHEV at the Auto Show in Beijing?
Winkelmann (laughs): There were three reasons, and they are quickly summarized. The timing is perfect, the car is important to us, and unfortunately, there are hardly any more trade shows.
What does the typical Chinese customer look like? Are they different from other regions in the world?
Winkelmann: They are the youngest customers we have. Their average age is under 35 years, making them the youngest customer group worldwide. In the USA and Europe, the average age is higher, but we also have the youngest age group compared to the competition there. In general, I see the young age of our customers as something very positive.
Do they have different ideas or wishes compared to your traditional clientele, or have they even demanded a plug-in? And what share will it have of total Lamborghini sales?
Winkelmann: The timing is now ideal. We expect the same sales mix as with the predecessor, meaning around 50% Urus and 50% super sports cars, which will be divided into about 30% Huracan and derivatives and 20% Revuelto and derivatives.
The latter still lives off its V12 and its sound. Can Lamborghini customers really do without it?
Winkelmann: We live and plan for the future in the present, and we have to anticipate the automotive needs for the next five to six years, which is currently more difficult than ever. What is clear is that hybridization is important and naturally involves a risk, which is why we have always said that we do not have to be the first here. We actually started hybridization with the Revuelto, and it has already paid off. It is sold out for the next three years. Now we have taken a whole step further with the Huracan, partly because we can significantly improve both our CO2 balance and that of our customers. And when we have an electric Lamborghini in five to six years, which will become its own series, that is the perfect path. What is important is that the performance is right from the first meter, and it is.
So what will still distinguish a Lamborghini?
Winkelmann: On the one hand, it is the numbers and facts – strong performance, available at all times. On the other hand, it is the driving experience, and in a Lamborghini, that is always very emotional and full of feeling. Implementing this for a battery-electric vehicle is now the challenge.
Not so easy with the heavy batteries...
Winkelmann: The impressive feeling of agility will be retained in every Lamborghini, helped by individual chassis tuning, modern software, and of course, the developmental efforts of our engineers. This allows us to respond to the changed parameters that electric drives bring.
Speaking of drive and battery technology: Lamborghini once experimented with supercaps and is currently the only one using the V12. Couldn't you set a benchmark or develop something special for electric drives or battery technology?
Winkelmann: Fundamentally, the group helps us keep costs in check, especially since development efforts are increasingly rising. Within the group, we always have the performance leadership. And even though the Urus is a platform product, there are significant differences in driving behavior and performance development compared to other products. We regularly test ourselves and have to say: All group products drive fundamentally differently.
Now, with the Urus, you are already entering the largest platform within the group. Have you ever considered a smaller entry-level model?
Winkelmann: Yes, we briefly considered it but immediately discarded the idea. Because while volume is one thing, the return I achieve with it is another. And currently, we see no necessity below the Urus.
How will the future Lamborghini program be structured?
Winkelmann: We are planning with four models. The Urus remains the entry-level model, above that is the Lanzador, then the future Huracan, and the top model is the Revuelto.
How many Lamborghinis are actually registered for commercial use?
Winkelmann (smiling): Of course, there are quite a few, especially in California, where leasing can be accounted for business purposes. But fundamentally, a Lamborghini is never the primary vehicle and is almost always driven privately. This even applies to the Urus, which is a practical, full-fledged car for at least four people.
How many cars do Lamborghini owners usually have in their fleet?
Winkelmann: On average, it is usually five to six vehicles.
The plans for the near future, including the fourth model line, are made. Where do you think Lamborghini will stand in ten years? Will super sports cars still be produced then?
Winkelmann: That's a fundamental question. Indeed, we have to keep our eyes and ears wide open to explore the future. It is important that we continue to build dream cars because we do not sell mobility, we sell dreams. We have to be honest here: No one buys a Lamborghini because they really need it!
Interpreting dreams of tomorrow – that seems challenging to me...
Winkelmann: It is, because currently, the industry is evolving more revolutionarily than evolutionarily. And discerning exactly what customers want is not easy at the moment.
How do you assess the transition of the car fleet to electric or electrified drives in this context?
Winkelmann: Fundamentally, I believe that everyday vehicles are more likely to transition. Nevertheless, with electrification and digitalization, we have super opportunities that we might not even be aware of today. This also includes alternative fuels, which would particularly help us to quickly and significantly reduce CO2 emissions in the existing stock. The fact is: We have to dramatically cut CO2 emissions, and fuel not only causes environmental pollution but also issues with pollutants and fine dust. This is why the EU's electrification strategy kills many birds with one stone. The only important thing is the source of the electricity, which is why we also need to ensure environmentally friendly electricity generation.
What were the initial feedbacks on the Urus PHEV?
Winkelmann: Extremely positive here in China, but that's also because a kilowatt-hour of electricity here sometimes costs only nine cents, making it much cheaper than fuel. It’s clear that it pays off for customers much more quickly then.
We saw many new models from Chinese brands at the fair, which interpret premium manufacturers, but not a single model that cites the angular distinctiveness of Lamborghini. Why?
Winkelmann (smiling): Because that would be too obvious.
In 2023, Lamborghini delivered more than 10,000 vehicles for the first time with 10,112 units. Does this figure still hold for you or do you need to continue growing?
Winkelmann: For us, profitability and business stability always come first. That's why we have to finely tune here to ensure desirability and thus the residual values remain high, but also that the order backlog is substantial enough to continue investing. Because fundamentally, technology is becoming more expensive for Lamborghini too, and life cycles tend to get shorter. Still, we always keep an eye on scarcity. Dreams must be desirable.
The interview was conducted by Gregor Soller
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