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."
Lukas Alpert of MarketWatch explores how networks, brands, and ad buyers absorb the shockwaves when late‑night show hosts are suddenly cut — and brought back.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
