DETROIT – Cadillac's new entry-level electric vehicle will be a compact-sized crossover called Optiq, the company said Friday.
The General Motors brand said the vehicle, which will be its fourth EV, will slot below the current entry-level Lyriq midsize crossover EV, which starts around $59,000.
Cadillac declined to disclose pricing and other specifics of the 2025 Optiq, which is expected to go on sale in the U.S. as early as next year. The vehicle is expected to be sold in North America, China, Europe and potentially other markets.
A Cadillac spokesman confirmed Friday that the brand still plans to exclusively offer EVs by 2030, despite slower-than-expected demand for the vehicles. Cadillac initially announced the target several years. Its parent company, GM, subsequently set a target to exclusively offer EVs by 2035.
Cadillac's first EV was the Lyriq, followed by a bespoke $300,000-plus Celestiq sedan and an upcoming all-electric version of the Escalade SUV, which starts at about $130,000.
GM, including Cadillac, has been far slower than expected to roll out and produce EVs, as the company battled through supply chain problems and issues ramping up domestic battery cell production.
Cadillac sold fewer than 5,400 Lyriq EVs through September. The company announced earlier this week it will expand EV sales to Australia and New Zealand, starting with a right-hand-drive version of the Lyriq.
"Cadillac is experiencing great sales momentum thanks to our strong product portfolio — and we are now expanding our business globally," said John Roth, vice president of Cadillac, in a statement. "The introduction of a right-hand-drive Lyriq will enable new opportunities in important markets where EV adoption is strong."
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November 17, 2023 at 10:39PM
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Cadillac Optiq: New entry-level EV crossover - CNBC
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