Lamborghini scraps their Electric Car Leasing plans for 2026 but the Ferrari Luce EV is still on route

The Ferrari Luce EV is still on route after Lamborghini scraps their Electric Car Leasing plans for 2026

The landscape for electric cars goes through periods of flux and change. From policy changes (local, national and global), to manufacturer changes (new cars / discontinuations) to customer and driver behaviours, it is clear to see that we are all still learning and evolving in a relatively new industry.

We always denote 2020 as the year of mass-adoption, which means that we have only 5 years of learned behaviour and feedback to help the UK’s BEV market to adapt to the changes. Since the rationale behind vehicle purchases, or leases, are so wide and varied, it is difficult to establish one fixed route moving forwards.

For car manufacturers and brands, this means that they have to consistently adopt new vehicles, improve batteries, add new technology and ensure the price point for their product meets both the PCH and BCH demands.

When you take the elite luxury and supercar segment of the motor industry, the notion of electrification becomes an even more difficult one. Transitioning our elite vehicles across to lithium-ion batteries has not been without contention; kickback on the deviation away from the petrol engines which have ruled for generations is obvious.

But is there not room for both combustion and EV in this market? As EVs present incredible tax-saving opportunities for UK businesses and luxury EVs have a space in the market so long as they are carefully controlled by the manufacturer and marketed / sold appropriately. When you consider the key reasons for an Electric Supercar, you can understand why this is the case:

•  Electric supercars are wholly-tax deductible under hire purchase or business contract purchase arrangement - 100% write-off in Year 1 unlike the 6% for a combustion model;
•  Electric supercar lease rentals are wholly-tax deductible against Corporation Tax - no limits or restrictions on this amount as per combustion;
•  Electric supercars are tax efficient for the director / business owner utilising them under a lease - low BiK compared to combustion making this a financial no-brainer;    

•  Electricity is cheaper on a domestic or business tariff compared to fuel - as electricity is not considered a fuel, the driver incurs no tax repercussions; and
•  EV chargers are wholly-tax deductible against Corporation Tax for business or home installations 

With this in mind the move into hypercar performance EVs has been thought to be a battle between two key heavyweights - Ferrari  and Lamborghini. In two very different stories over the last week, the brands re-confirmed their position on vehicle choice for 2026 and beyond.

Speaking to The Times the CEO of Lamborghini, Stephan Winkelmann, confirmed that the brand would not be engaging in the EV market in the short to medium term and the purported Lanzador would not feature on the product line-up.

Concerned that the EV market could prove to be an expensive exercise for the company, the Lanzador has been shut down in favour of plug-in hybrid electric vehicle (PHEV) alternatives, which serve a more practical endeavour for the group.

With the focus on emotional connection and feedback, there are concerns that EVs do not carry this weight and emotion. Even the Urus SUV will not be introduced in an all-electric in the foreseeable future.

But this is a “now” decision, with time still yet to play a part in what the company does. With growing pressure from EU and National Governments for manufacturers to go electric, this cannot be ignored forever. Also, with a growing market and demand in the UK for these solutions, there will perhaps be a reverse on this decision.

In contrast, their fiercest competitor, Ferrari, have confirmed that EVs will feature in their company. When Ferrari add their name to the electric car transition, you know that this is something worthwhile. The reality is that many of the UK (and global) customers do look up to the Ferrari brand, as it carries a prestige and following which other brands simply do not (and cannot) emulate.

As we recently detailed, Ferrari were forthright in their intention to enter the battery electric market under the guise of Electricca. Contrary to their competition - McLaren, Lamborghini and Bentley - the Italian powerhouse is seeking to replicate success in the combustion and racing markets with the battery and electric car markets. Their flagship EV will now be referred to as the Luce. 

Designed with clear organisational principles, the new Luce will offer a pragmatism and technological adventure for their customers via the designer Sir Jony Ive. Controls and set-up in the driver cockpit are precision engineered mechanical buttons, dials and toggles to ensure multi-feedback is available throughout the experience.

Precise and considered interfaces are utilised to bring the connection to the vehicle, with the same emotions you would experience with a combustion option. However, it is not all clinical design, the new Ferrari Luce promises an intuitive yet thrilling drive.

With features like the 3-spoke steering wheel, analogue control modules, manual torque mode, multi-layered binnacle, power dial and central control panel (with feedback) are testament to the motorsport prowess of the vehicle. But with a hint of futuristic via the docking key, launch mode and overhead panel, the upcoming

Luce promises a continuation of the Ferrari heritage into the new era. With some four electric motors to feature on the vehicle, expect a 1000hp output and 0-62 times of circa 2.5 seconds and a 193mph top speed!

Want to know more about going into the Ferrari EV?

Head to our dedicated  Ferrari special offers  section or speak to our experts directly on 01942 910 001 or by emailing us at [email protected]