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Volkswagen Lamborghinis Latest Entrant in EVs and Autonomous Vehicle Space; Should Tesla Motors Inc Worry?

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Volkswagen’s subsidiary Lamborghini announced plans to introduce electric vehicles and autonomous SUV

Volkswagen AG’s subsidiary Lamborghini which is regarded as a high-performance luxury brand recently announced its entry in the electric vehicle space along with introducing a fully autonomous Sports Utility Vehicle (SUV.)

The German luxury car maker, which usually produces cars, now plans to launch a SUV by 2018, whereby it estimates to sell around 3,500 units. Furthermore, by 2019, the maker of Aventador Coupe expects to double the production of its SUVs to 7,000 a year.

Lamborghini’s long-term production plans also include the launch of a plug-in hybrid EV version of the SUV, which can be expected not sooner than four years down the lane. Moreover, a full electric SUV would also create a platform for an autonomous vehicle.

Whenever a discussion regarding electric vehicles is brought-up, it is merely impossible to leave out Tesla Motors Inc (NASDAQ:TSLA) from the talks. The Palo-Alto, California based upscale electric vehicle producer can be considered as one of the pioneers of a fully electric vehicle. The car maker started with Roadster and now has expanded its product line to a high-end Model S, an all-electric SUV Model X and the soon-to-be released Model 3 – which would be offered to the mass market.

Yesterday, Tesla’s Chief Executive Officer (CEO) Elon Musk tweeted regarding a product announcement. As per the latest plans, the electric car maker said that it is offering cars with a range of 315 miles once the battery is fully charged – an unmatched range.

New iterations of Model S and Model X were also introduced, with 100 kilowatt-hour batteries. The management at Tesla elaborated that enhancing the range of its vehicles was only possible once the energy density of its battery packs was improved. Following the upgrade, the company would be able to sell a P100 version of both Model S and Model X, accompanied by the famous “Ludicrous Mode.”

The owners of Tesla’s all-electric sedan would get the 315 mile range, while the heavier Model X would not be able to drive for as long. The P100D iteration of Model S would cost $134,500 and Model X would cost $135,500.

In a conference call, Mr. Musk said that his company would not offer the “fastest car in the world.” He backed his claim with some statistics, he mentioned that 100 kWh sedan can shoot from 0 to 60 mph in about 2.5 seconds, while the Model X would require 2.9 seconds.

Meanwhile, Tesla claims to offer the fastest car in the world, Lamborghini plans to enter the electric vehicle market. The latter being a producer of luxury sports cars since it was incorporated, it would not require much time to catch a Model S.

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