Turns out wealthy people prefer their cars to be powerful and noisy. Lamborghini CEO Stephan Winkelmann just canceled the company’s all-electric Lanzador supercar after discovering that demand among his millionaire customers was “close to zero.” The Italian automaker is pivoting entirely to plug-in hybrids by 2030.
The decision came after more than a year of customer research, dealer feedback, and market analysis that revealed a harsh reality: wealthy buyers want the “emotional experience” of traditional engines. According to Winkelmann, EVs “struggle to deliver this specific emotional connection” that includes the distinctive sound and feedback of internal combustion engines.
Lamborghini isn’t alone in pulling back from pure electric vehicles. Stellantis recently scrapped some EV models, while General Motors disclosed a $6 billion hit from its electric program.
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Turns out wealthy people prefer their cars to be powerful and noisy. Lamborghini CEO Stephan Winkelmann just canceled the company’s all-electric Lanzador supercar after discovering that demand among his millionaire customers was “close to zero.” The Italian automaker is pivoting entirely to plug-in hybrids by 2030.
The decision came after more than a year of customer research, dealer feedback, and market analysis that revealed a harsh reality: wealthy buyers want the “emotional experience” of traditional engines. According to Winkelmann, EVs “struggle to deliver this specific emotional connection” that includes the distinctive sound and feedback of internal combustion engines.
Lamborghini isn’t alone in pulling back from pure electric vehicles. Stellantis recently scrapped some EV models, while General Motors disclosed a $6 billion hit from its electric program.
Sign up for the Entrepreneur Daily newsletter to get the news and resources you need to know today to help you run your business better. Get it in your inbox.
