The Espada was launched at the 1968 Geneva Motor Show, alongside the Islero. The Espada was equipped with a 3,929 cc (240 cu in) Lamborghini V12 engine derived from that used in the 400 GT 2+2, rated at 325 hp (242 kW; 330 PS) in the series I cars. The design of the series I dashboard was inspired by the Marzal concept car, and featured octagonal housings for the main instruments, topped by an additional binnacle for the secondary gauges.

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