Cadillac is entering the luxury electric SUV market with its 2023 Lyriq, falling in line with many auto manufacturers as they strive for a more environmentally sustainable future.
The vehicle features a 340 horsepower engine and a 100 kWh battery capable of driving more than 300 miles on one charge. It will start at $59,900, with pre-orders beginning September 18 and production slated to start during the first quarter of 2022.
"We believe that it's an absolutely stunning vehicle," said Rory Harvey, global head of Cadillac. "I'm sure you'll draw your own conclusions."
Parent company GM has committed to only producing zero-emission cars by 2035. The Lyriq will be produced at a converted plant located in Spring Hill, Tennessee. About $2 billion was invested to update the site, as well as an additional $2.3 billion to create a battery manufacturing facility that should provide an additional 1,500 U.S.-based jobs, Harvey told Cheddar.
"There is no doubt that there is growing momentum and that EVs are the future," he said. "From our perspective, a Cadillac point of view, we will be leading the GM transition, and by 2030 all of our vehicles will be EVs."
There are still some issues the electric vehicle industry must face, including sustainability and humanitarian concerns over mining materials used for batteries. GM and Cadillac have processes in place to ensure that its mining partners are humane and equitable to its workers, Harvey said, and has a new program to recycle 100 percent of rare materials used in the batteries. The Lyriq battery is expected to last at least eight years with regular use.
Another concern is that there are still so few electric charging ports across the country compared to gas stations. According to the U.S. Department of Energy, there are only 43,900 EV charging stations compared to just north of 150,000 gas stations across the country. But with the Lyriq's extensive charge range and more EV charging stations added to the map each day, Harvey isn't concerned.
"From our research, the average daily commute is 40 miles," he explained. "For somebody that uses it under those conditions, range anxiety shouldn't be an issue."
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
