Previous deadline for first EV was 2028
CEO rules out any IPO plan from parent VW
CO will always produce cars in Italy
New Temerario hybrid model costs over 300,000 euros

SANT39;AGATA BOLOGNESE, Italy, Dec 16 Reuters Italy39;s Lamborghini will always make cars in Italy as it plans to launch its first electric model only in 2029, amid a market for luxury sports cars which is not ripe for full electrification, CEO Stephan Winkelmann said on Monday.

Lamborghini, a unit of Volkswagen, had previously said its first EV was due in 2028. Italian rival Ferrari will launch its first EV model in the first quarter of next year.

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, Winkelmann told reporters at Lamborghini39;s headquarters in Sant39;Agata Bolognese, near the northern Italian city of Bologna.

Lamborghini from this year has an entire hybrid threemodel lineup, with the new version of Urus SE SUV, the Revuelto sports car and the new Temerario sports car, presented during the summer and which has a price of over 300,000 euros 315,000, excluding valueadded tax.

Winkelmann said Lamborghini was not in a hurry to push for electrification. The company also is waiting for a clearer regulatory outlook in the European Union, as a review of the bloc39;s ban on the sale of new internal combustion engine cars from 2035 is currently scheduled in 2026.

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