- Cadillac recently held a business update where it detailed some of its upcoming EV plans.
- It will roll out three new EVs by the end of 2024.
- Lyriq production is ramping up. Cadillac said all Debut Editions will have been delivered by the end of the first quarter.
Cadillac Will Introduce Three New EVs by the End of 2024
But who knows what they'll be ...
Cadillac held a business update call this week where it detailed everything from sales numbers to its upcoming EV plans through 2024. While the presentation was light on details, Cadillac did say it plans on releasing three new EVs by the end of next year. Including the $300,000 Celestiq, that would increase the brand's EV portfolio to five by the end of 2024. That said, Cadillac wouldn't elaborate on what those EVs will be. At least, not yet.
The announcement of new electric vehicles followed the news that Cadillac is ramping up production of its first EV, the Lyriq. Production of the Lyriq started early last year, and while Cadillac is being cagey about sales figures, some outlets have reported that it delivered fewer than 150 Lyriqs in all of 2022. Progress has been more positive recently, however, as Cadillac said that by the end of this week, 1,000 Lyriqs will have been shipped in the last 30 days. It also noted that all Lyriq Debut Editions will be delivered by the end of the first quarter of this year but would not say how many Debut Edition orders Cadillac received.
Many of General Motors' newest electric vehicles have been plagued by slow production. The GMC Hummer EV is barely starting to make its way into consumers' hands even though production began in fall of 2021. The Silverado EV, which was first seen in January of 2022, won't make its way into customers' hands until the fall of this year. Even more pressure will come when the mainstream Chevrolet Blazer EV and Equinox EV near their release dates this summer and fall, respectively.
What will Cadillac's new EVs be?
While Cadillac didn't specify what these new EVs will be, there are various gaps in the automaker's lineup that the new EVs could easily fill. Starting at the top of the range, Cadillac's best-seller is the Escalade, and with Mercedes, BMW, Tesla, Rivian and Jeep all either selling or planning to sell big electric SUVs, it makes sense that Cadillac would want a competitor in that space and an Escalade EV perfectly fits that bill. Another place Cadillac might consider deploying an EV is in the sedan space. While the Celestiq is a sedan, it's aiming for the Bentleys and Rolls-Royces of the world. Meanwhile, the Mercedes EQS, BMW i7, Tesla Model S and Lucid Air are running around without a competitor from General Motors. A new EV sedan would neatly fill the gap left by the CT6 Cadillac killed a few years ago. As for the third model, we assume a smaller, less expensive SUV nearer the size of the Tesla Model Y will be high up on Cadillac's list of priorities.
Hopefully GM can start delivering its Ultium-powered EVs, and quickly.