After years of speculation and rumors, Lamborghini made it official today that it’s moving ahead with plans to produce a new SUV. The new model will be built in Italy at Lamborghini’s Sant’Agata plant and will be introduced as a 2018 model.
“The introduction of a third model signifies for us the beginning of a new era,” said Lamborghini boss Stephan Winkelmann in a statement to Reuters and Automotive News. It’s the second SUV from Lamborghini, after the LM002 pseudo-military vehicle, which was produced from 1986 until 1993.
The new project represents an enormous investment over the course of the new model’s life cycle. Lamborghini aims to build around 3,000 annually, which would more than double its total 2014 output. As such, Lamborghini will hire 500 new employees and nearly double the size of its factory in Sant’Agata.
As we reported earlier this month, the project is being partially funded by about €100 million worth of tax breaks and incentives, courtesy of the Italian government. The deal has been in the works for a few weeks and was made official when Winkelmann and Italian Prime Minister Matteo Renzi met in Rome to sign a letter of intent.