The Lamborghini Revuelto has roared into the region for the first time.
At two separate showroom events in the UAE, supercar fans were given their first state of the flashy Dh2 million (or thereabouts) ride. It was revealed in the brand’s signature orange hue in front of appreciative audiences.
It is the successor to the Aventador and was first announced in March.
Few are aware of how Lamborghini started life as a tractor producer, and one branch of the company is still involved in that endeavour. How things can change in the corporate world.
The Revuelto is typical of the kind of cars Lamborghini has become famous for producing over the last few decades.
True to form for the Raging Bull, it is a heads-down-and-charge affair with a naturally aspirated 6.5-litre V12 engine.
With the addition of a trio of electric motors, the new arrival can generate an undeniably mammoth 1,015hp and nearly 1,500Nm of torque.
It goes 0-100kph in around 2.5 seconds.
The time to 200kph is only a little over double that, meaning it’s one of those cars that'll cause concern in a track situation as it never seems to stop accelerating.
The Revuelto has been created with the most lightweight materials available, which gives it Lamborghini’s best power-to-weight ratio.
There are also 13 different drive modes.
Rakan Turki, chief executive of Lamborghini Abu Dhabi and Dubai, referred to the unveiling as a “quantum leap” for the company, with “overwhelmingly positive feedback” on the Revuelto, which currently sits as the brand’s flagship model.
There is no word on final pricing yet, but, as previously mentioned, the Dh2 million estimate is a suitable guideline.
The Revuelto will be available early next year.
The specs
Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Our Time Has Come
Alyssa Ayres, Oxford University Press
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
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