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GM kicks off European EV campaign with $90,000 Cadillac Lyriq, more models coming

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General Motors is gearing up to reenter Europe with a new EV offensive. To spearhead the campaign, GM announced Thursday it’s taking orders for the Cadillac Lyriq in Switzerland.

The luxury brand will launch electric models in Sweden, France, and three other European countries over the next two years, according to Bloomberg.

GM has been mostly absent in the region over the past few years after importing a handful of vehicles. After selling Opel/ Vauxhall to the PSA Group (later merged with Fiat Chrysler to Form Stellantis) in 2017 due to piling losses, GM left the high-volume market.

General Motors is gearing up to give the region another chance as inflation and a gloomy economic outlook are pressuring domestic automakers.

Europe’s largest automaker, Volkswagen, has already cut production in Germany over slowing demand.

Meanwhile, Chinese EV makers are quickly expanding overseas with more advanced models. The progress was evident at the IAA Mobility Show in Munich, Germany.

Chinese automakers doubled their presence at the event over the past two years, with leaders like BYD and SAIC’s MG revealing new EVs aimed at buyers in Europe.

GM-EV-Europe
2024 Cadillac Lyriq models (Source: GM)

GM hopes luxury EVs can revive sales in Europe

The Cadillac Lyriq will be the first EV from GM to go on sale in Europe. Powered by GM’s Ultium platform, the Lyriq features 530 km (329 miles) of range.

With a starting price of around 82,000 Swiss francs ($89,705), the Lyriq will compete with luxury German electric SUVs like the Audi Q8 e-tron.

GM-EV-Europe
2024 Cadillac Lyriq Luxury trim (Source: Cadillac)

According to the report, GM will sell EVs in Europe through its website and retail stores. GM will import Cadillac electric models from its Spring Hill, Tennessee, factory, where production kicked off last year.

By the end of the decade, Cadillac will offer a fully electric lineup in Europe. GM opened its new Advanced Design Studio Europe as part of its strategy to reenter the region as an EV brand.

Meanwhile, momentum is finally picking up after Lyriq deliveries began in the US last year. GM delivered 3,108 Lyriq models in the third quarter, surpassing the previous record of 1,348 in Q2.

Electrek’s Take

GM has struggled to ramp up production of its Ultium-based EVs until recently. The third quarter numbers suggest GM may be turning a corner.

With the European market up for grabs as it transitions to the electric era, GM looks to regain its position. An overseas expansion could help charge up the luxury brand as it works toward an all-electric lineup by 2030.

This article was originally published by Electrek.co. Read the original article here.
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