Lamborghini, the Italian manufacturer of high-performance sports cars, has announced plans to introduce hybrid technology in its Indian models by the end of 2024. This move is part of the company's strategy to cut emissions from its cars by 50% in the near future. Lamborghini, a niche player in India's auto market, has expressed confidence in the country's consistent taxation policy and stated that it would appreciate any tax reductions. The company's current lineup in India includes three models: the Urus SUV and two super sports cars, the Huracan Tecnica and Aventador, with prices starting from Rs. 3 crores. According to Sharad Agarwal, the head of Lamborghini India, the company plans to hybridize its entire model range by the end of 2024, with the introduction of a new V12 hybrid and a new V10 hybrid in 2022 and 2024, respectively. Additionally, the company plans to introduce a fully electric model globally in 2028.
The company sold 92 units in India last year, a 33% increase from the previous year. While the high rate of taxation on imported cars may impact the luxury car segment in India, Agarwal stated that the market is currently aligned with the current tax structure and requested that the government maintain consistency in its policy. Lamborghini's entire model range is imported to India as Completely Built Units (CBUs), and vehicles with a CIF of more than USD 40,000, or with an engine capacity of more than 3,000 ccs for petrol-powered vehicles and more than 2,500 ccs for diesel-powered vehicles, are subject to a 100% customs duty.
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