Lamborghini will  delay the launch of its first fully electric vehicle (EV) until 2029, due to the luxury sports car market's lack of readiness for full electrification, Reuters reported, quoting CEO Stephan Winkelmann.

The Italian automaker, part of the Volkswagen Group, had previously planned the release of its first EV in 2028.

This postponement comes as the industry grapples with the transition to EVs, with Lamborghini's domestic competitor, Ferrari, set to introduce its first EV early next year.

Winkelmann emphasised that the company is not rushing to shift to electric power, as it navigates both market conditions and evolving regulatory frameworks.

Notably, the European Union is set to review the 2035 ban on new internal combustion engine (ICE), adding an element of uncertainty.

Winkelmann said: “We do not think 2029 is late to have an electric car. We do not think that, in our segment, the market will be ready in 2025 or 2026."

Lamborghini's current lineup, introduced this year, features hybrid models, including the Urus SE SUV, the Revuelto sports car, and the new Temerario sports car, priced over €300,000 ($315,000) excluding VAT.

The automaker’s focus remains on these high-performance hybrids for now, and Winkelmann confirmed there are no immediate plans for a Lamborghini spin-off from the Volkswagen Group.

In addition, Winkelmann reaffirmed Lamborghini’s commitment to manufacturing all its vehicles in Italy, particularly at its Sant'Agata Bolognese facility.

Winkelmann added: "We cannot think of a Lamborghini being manufactured outside of Italy or of Sant'Agata."

When asked about the potential impact of US tariffs on European-made goods following Donald Trump’s election as president, Winkelmann declined to comment, emphasising that Lamborghini’s production will remain firmly in Italy.