Lamborghini CEO axes $300,000 luxury EV, chalking it up to an ‘expensive hobby’ with ‘close to zero’ demand

Lamborghini is the latest luxury carmaker to admit the appetite for exclusive and expensive electric cars just isn’t there.

CEO Stephan Winkelmann confirmed in an interview with the Sunday Times this week Lamborghini is shelving its all-electric Lanzador and pivoting to plug-in hybrid vehicles. Winkelmann said the appeal within Lamborghini’s target market for battery-powered cars was “close to zero.”

Lamborghini announced the Lanzador, a 1,341-horsepower “Ultra GT” and the maker’s fourth EV model, in 2023.