Lamborghini's first electric vehicle (EV) could have the Hyundai Ioniq 5 N in its sights as a performance benchmark, after the electric SUV was spotted leaving the carmaker's Italian headquarters.

Lamborghini's First EV May Be Benchmarking the Hyundai Ioniq 5 N

In a video uploaded to YouTube, spy photographer Varryx captured the Ioniq 5 N departing the Lamborghini HQ in Sant'Agata Bolognese, Italy – not covered in camouflage and with German number plates.

While it might seem strange to see another brand's car inside a rival's HQ, it's common practice in the car industry for companies to buy vehicles they're using to 'benchmark' against future models.

Lamborghini's First EV May Be Benchmarking the Hyundai Ioniq 5 N

In this case, Lamborghini is due to launch an EV in 2029, having initially targeted a 2028 release. Named the Lanzador, it was shown off in prototype form in 2023.

Though Hyundai and Lamborghini are two completely different companies – with the former making a handful of performance models among a broader, market-focused lineup – the Ioniq 5 N is widely considered to be the best EV on sale in terms of its all-round performance for its price.

The Hyundai Ioniq 5 N is powered by a dual-motor electric drive system putting out up to 478kW and 770Nm in its most aggressive N Grin Boost mode, mated to an 84kWh battery.