Automobili Lamborghini

The company's first models, such as the 350 GT , were released in the mid-1960s. Lamborghini was noted for the 1966 Miura sports coupé , which used a rear mid-engine, rear-wheel drive layout. In 1963, Ferruccio Lamborghini, already an established industrialist who manufactured tractors , boilers, and air conditioners, founded Lamborghini Automobili on 7 May 1963. The company was headquartered in a purpose-built facility in Sant'Agata Bolognese . He surrounded himself with highly capable engineers and technicians: Giotto Bizzarrini designed the engine, Gian Paolo Dallara and Paolo Stanzani developed the chassis, and Franco Scaglione designed the bodywork. The first model, the 350 GTV, was not a success due to its futuristic style and remained a one-off prototype. The project was then handed over to the Milanese coachbuilder Touring, which created a more classic and sober design. The new car, named the 350 GT, was a fast and elegant two-seater grand tourer (according to Ferruccio's standards) and was the first series-produced car by Lamborghini. It achieved moderate sales success and was followed by the 400 GT (which benefited from an increased engine capacity) and the 400 GT 2+2, both presented in 1966. Lamborghini grew rapidly during its first ten years, but sales fell in the wake of the 1973 worldwide financial downturn and the oil crisis . Ferruccio Lamborghini sold the company to Georges-Henri Rossetti and René Leimer and retired in 1974. The company went bankrupt in 1978, and was placed in the receivership of brothers Jean-Claude and Patrick Mimran in 1980. The Mimrans purchased the company out of receivership by 1984 and invested heavily in its expansion. Under the Mimrans' management, Lamborghini's model line was expanded from the Countach to include the Jalpa sports car and the LM002 high-performance off-road vehicle. The Mimrans sold Lamborghini to the Chrysler Corporation in 1987. After replacing the Countach with the Diablo and discontinuing the Jalpa and the LM002, Chrysler sold Lamborghini to Malaysian investment group Mycom Setdco and Indonesian group V'Power Corporation in 1994. In 1998, Mycom Setdco and V'Power sold Lamborghini to the Volkswagen Group where it was placed under the control of the group's Audi division. New products and model lines were introduced to the brand's portfolio and brought to the market and saw an increased productivity for the brand Lamborghini. In the late 2000s, during the Great Recession , Lamborghini's sales dropped nearly 50%. In 2021, the CEO of Lamborghini said that by 2024 all its models will be hybrid .