The new EV will go alongside the existing combustion-powered model.
Cadillac plans to become all-electric in the next five years, which is about five years earlier than GM’s other brands. The Lyriq is the company’s first attempt to create an EV. It should be on production lines as of today. According to a new report, Cadillac will open its order books on May 19, and at least one additional electric SUV is in the works.
Automotive News shows Cadillac dealers images of the new zero emission crossover. It is roughly the same size and shape as the current XT4. According to the article, the vehicle was well-received by marque retailers who were assured that it would be sold alongside the XT4 over a period of time. Cadillac will now have a subcompact electric crossover.
It is having difficulty keeping its dealers, and has already lost around 40% of them who weren’t happy to offer electric vehicles. Cadillac will monitor the demand for combustion vehicles and make every effort to ensure General Motors’ profitability. The dealers were reportedly informed that they will continue to look at ICE.
The Lyriq is proving to be a popular product, judging by early feedback from potential customers. There have been more than 233,000 expressions of interest and at least 10% of these are expected to be actual sales. Cadillac could see about 25,000 sales the first year of production if the math is right. This is a great start for an electric luxury crossover from a legacy manufacturer.
“We are in a period of transition. “This is our time for pivot,” Rory Harvey (VP Cadillac) said Automotive News prior to the meeting with dealers this weekend. “We have one the most up-to-date lineups in terms of ICE portfolio today, and we’re adding EVs to that.”