Ferruccio decided that his car was to have a V12 engine, and enlisted the services of talented engineer Giotto Bizzarrini, who had previously worked on a Ferrari V12. The new engine had 4 cams, a short stroke and 2 big bore valves per cylinder, and developed a surprising 350 horsepower (260 kW). The engine featured aluminium construction, with a crankshaft supported by seven main bearings, forged aluminium pistons, and camshafts with their own half-engine-speed sprocket and silent chain. The car the engine was mounted in was designed by Franco Scaglione's Scaglione-Touring.

This Lamborghini 350GTV prototype began making public appearances in 1963, starting with the Turin Auto Show. Sales of the production model, known as the 350GT, began the following year with great success, with over 130 examples sold. Born under the sign of the Taurus, Ferruccio Lamborghini used the bull as the badge by which to mark his new automobile.

The 350GT by Lamborghini was followed up by the 400GT. The excellent sales of the 400GT and its predecessor gave the company sufficient funds to design its first supercar - the now-legendary Lamborghini Miura, which was premiered by Ferruccio himself in November 1965 at the Turin Auto Show.