Lamborghini signs deal to build new SUV in Italy

The Urus SUV, unveiled as a concept in 2012, is expected to enter the market in 2018.

Milan: Super sports carmaker Lamborghini has confirmed it will enter the luxury SUV market and has signed a deal to produce the vehicle in Italy after receiving more than 80 million euros (USD 87 million) in government incentives.

Premier Matteo Renzi signed the deal, which is expected to create 500 jobs, at a ceremony in Rome with Lamborghini executives.

Lamborghini CEO Stephan Winkelmann said the Italian package "was the most competitive and won" against a rival bid from Slovakia.

The Urus SUV, unveiled as a concept in 2012, is expected to enter the market in 2018 with a production of 3,000 vehicles a year, more than doubling production at Lamborghini's factory near Bologna.

The move broadens Lamborghini's portfolio beyond super sports cars, while creating jobs in Italy's long-suffering auto sector.

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