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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

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Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

3

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Lamborghini

Lamborghini is making something you’d never expect

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
Down Arrow Button Icon
May 27, 2015, 12:44 PM ET
Courtesy of Lamborghini

Lamborghini is returning to an unexpected market for its luxury vehicles: SUVs.

The company announced on Wednesday that it’s preparing “for a new era” with the introduction of its SUV, which was originally presented as a concept at a 2012 auto show in China. The vehicle has been dubbed the Lamborghini Urus and will be available in 2018.

Slated to be produced in Sant’Agata Bolognese, the company said the car will “herald additional growth and significant opportunities across the marque with the expansion of the product range.”

Lamborghini has put out an SUV in the past. The LM002 model was manufactured by the company from 1986 to 1993, but there was only limited production of that car.

“This is a proud moment for everybody in Lamborghini,” Lamborghini CEO Stephan Winkelmann said in a statement. “The introduction of a third model line endorses the stable and sustainable growth of the company and signifies for us the beginning of a new era.”

To make room for production, a Lamborghini factory will nearly double in size from 80,000 square meters to 150,000 square meters. The company also has plans to hire an additional 500 new employees.

The brand is owned by the Volkswagen Group and is a subsidiary of Audi.

About the Author
By Benjamin SnyderManaging Editor
LinkedIn iconTwitter icon

Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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