General Motors' high-end division, Cadillac, unveiled its first all-electric car on Thursday, August 6. It is a model called Lyriq supposed to help the American manufacturer to regain control of a market currently dominated by Tesla. The Lyriq, a cross between a 4X4 and a sedan, won't be produced until 2022. But Cadillac has promised that by 2030 most of its models will be electric. GM has already offered hybrid or electric cars like the Chevrolet Volt and Bolt, but the group wants to take it up a notch and aims to develop 20 models of all-electric vehicles by 2023.
The manufacturer unveiled in March the battery powering Lyriq, Ultium, which is supposed to allow it to run nearly 500 kilometers (300 miles) on a single recharge. GM intends to integrate it into all future electric models, from the cheapest to the most luxurious, of its brands – Cadillac, Chevrolet, GMC, and Buick. The Lyriq will also be equipped with an autonomous driving aid option and an 84-centimeter-wide (33-inch) screen instead of the usual dashboard location. The car is said to help GM, which was the first major automotive group to produce an electric vehicle in the 1990s, catch up with Tesla.
>> Read also – Tesla continues to crush competition in the electric car market
Tesla is worth more than the "Big Three"
The group led by Elon Musk, who in the eyes of investors currently embodies the future of the automobile, is now worth much more on the stock market than the "Big Three" of Detroit – GM, Ford and Fiat Chrysler. "Tesla is currently THE group to beat in the electric car market. Most manufacturers, seeing Tesla's success, have also changed their strategy by choosing to focus on high-end electric vehicles rather than good ones. market, ”notes Jessica Caldwell, automotive specialist for Edmunds.
Ford had launched into the sector at the end of 2019 by unveiling the first electric Mustang, an SUV called Mach-E. "So far, no one has been able to replicate the Tesla Model," but with the Cadillac Lyric and soon to be an all-electric GMC-branded Hummer, GM is positioning itself "to steal Elon Musk's coveted and wealthy buyers" cars without fuel, says the expert. The American manufacturer delivered 180,000 electric cars in the first half of 2020.
The latest industry news in your mailbox. Receive our BOURSE newsletter.