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Founded in 1963 in Italy, Lamborghini primarily manufactures luxury sports cars. Named for its founder Ferruccio Lamborghini, the company was created to compete with another famous Italian sports car manufacturer, Ferrari. Lamborghini is best known for its high-end and stylized vehicle lineup. Unlike Ferrari, Lamborghini's founder did not support his vehicles being used in motorsports, viewing it as overly expensive and a drain on company resources.
Lamborghini's first automobile was the 350 GTV, a two-seater coupe housing a 3.5 L V12 engine. The 350 GTV was created in 1963 and first showcased at the 1963 Turin Auto Show. Ferruccio Lamborghini was not happy with the design of the 350 GTV, making significant changes to the body and returning the engine. The result was the first production of Lamborghini, the 350 GT. The vehicle's original price was $13,900, the equivalent of $123,087 in current value. Today, Lamborghini makes a variety of supercars, with its current model line including the Aventador, Huracán, and Urus. Lamborghini sold 8,405 cars worldwide in 2021, marking a record sales year for the company, with its highest-selling vehicle being the Urus SUV.
Lamborghini recently announced that 2022 would be its last year producing fully internal combustion engine vehicles. Starting in 2023, the company's new models will have some form of electrification, whether hybrids, PHEVs, or all-electric. Lamborghini plans to have an all-electric vehicle by the second half of the 2020s, saying its first EV will likely be a four-door vehicle.