Cadillac’s First All-Electric Vehicle SUV, The Lyriq, Has Begun Production Ahead of Schedule!
Listen to this article
GM has begun production of its Cadillac Lyriq all-electric SUV in an attempt to reignite interest in a premium brand among upmarket automobile customers who have adopted vehicles from foreign competition and Tesla Inc.’s electric vehicles.
General Motors‘s Spring Hill, Tennessee factory, which also produces the gasoline-powered Cadillac XT5, XT6, and Acadia SUVs, has the capacity to produce 200,000 vehicles per year. Potential buyers have expressed considerable interest in the Lyriq, and GM President Mark Reuss stated that the company might devote all of the factory’s output to the plug-in if demand warrants it.
Cadillac is regaining its leading position and regaining its status as a top-tier luxury brand.
Over 230,000 individuals have indicated their interest in the Lyriq, according to the Detroit-based carmaker, which predicts 23,000 sales in addition to those who have already booked a vehicle. The base variant of the electrified SUV will cost a little under $60,000.
GM has deals in place to secure an adequate supply of semiconductors, nickel, and other materials required to produce the Lyriq and Hummer EV, among so many other battery-powered cars, according to General Motors President Mark Reuss. Nickel prices have risen as a result of sanctions imposed on Russia’s invasion of Ukraine, one of the world’s top nickel producers.
The president of General Motors explained that company enters into long-term supply contracts to ensure the pricing and delivery of those components, but that geopolitical issues and the COVID-19 outbreak have impacted the situation.