Italian automaker Automobili Lamborghini plans to deploy hybrid technology in its models in India by the end of 2024 as the Italian super sports car maker aims to halve the emissions from its cars in the coming years, according to a top company executive.
The niche player also expressed confidence that the country's taxation policy remains consistent though any tax reductions will be welcome.
The company currently sells three models -- premium SUV Urus and two super sports cars Huracan Tecnica and Aventador in the country, with prices starting upwards of Rs 3 crore.
"The roadmap for us is that by the end of 2024 we are going to hybridise our entire model range. So this year we will have a first hybrid, the new V12, then in 2024 we will have the Urus hybrid and also a new V10 which is also going to be a hybrid," Lamborghini India Head Sharad Agarwal told PTI.
In 2028, the company plans to bring in a fourth model globally which is going to be the fully electric model, he added.
"The idea is to reduce 50 per cent of the emissions from our cars by 2025," Agarwal said.
The company will bring in the upgraded models globally and then introduce them in the Indian market as well.
Lamborghini began its India operations in 2007. Last year, it sold 92 units in India, a growth of 33 per cent over 69 units in 2021.
When asked if the high rate of taxation on imported cars is affecting the growth of the luxury car segment in India, Agarwal said: "Today, the market is aligned to the current tax structure that we have..who would not like to have lesser duties..but that is not the priority from our end..." Further, he said, "Last 5-6 years, we have seen that there is a constant tax regime from the government and we would always request in maintaining this consistency. Once the segment is aligned with the structure let the segment grow." He stated that the government should maintain the consistency in the policy.
"We are not asking to reduce it (tax) but if it comes down who will say no to it," Agarwal said.
Lamborghini imports its entire model range to India.
Currently, imported as CBUs (Completely Built Units) with CIF of more than USD 40,000 or with engine capacity of more than 3,000 cc for petrol-run vehicles and more than 2,500 cc for diesel-run vehicles attract 100 per cent customs duty.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
