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Charging port of the upcoming Cadillac Lyriq. Courtesy of Cadillac.

On Thursday night, General Motors' luxury Cadillac unit will unveil the Lyriq, a crossover that marks Cadillac's first foray into all-electric models.

Why it matters: The stakes are high because GM is putting Cadillac at the forefront of its expanding push into electric vehicles.

  • Cadillac was once the top of the food chain the luxury market, but now lags after losing market share to Mercedes, BMW and others for decades.
  • The Lyriq, which GM teased with a few images last week like the one above, will also be GM's first electric vehicle that uses the automaker's new Ultium battery system.

What they're saying: Edmunds analyst Jessica Caldwell, in comments circulated to reporters, says it will be a "challenging launch for Cadillac" — a brand she said has been trying for years to boost its image.

  • "Although other aspirational luxury brands have already taken a pass at the [electric vehicle] space with electric SUV variants, no other automaker besides Tesla has tasted the joy of success in terms of sales and demand," she said.
  • "If Cadillac does it right and can get consumers to view the Lyriq as competitive with Tesla and other European luxury brands, this could help give the brand a push in the right direction." 

Go deeper

Oct 30, 2020 - Economy & Business

GM poaches CFO from Delta Air Lines

General Motors on Friday named Paul Jacobson, a top Delta Air Lines executive, as its new chief financial officer, replacing Dhivya Suryadevara who left in August for a Silicon Valley fintech firm.

Why it matters: Jacobson, 48, had been CFO at Delta, which — like GM — is a major global player in a highly regulated, capital-intensive, cyclical industry. But Delta racked up a strong performance over the past decade, and at GM, he aims to accelerate the automaker's technology shift to electric, self-driving vehicles.

Thousands without power as "hazardous" winter storm lashes East Coast

Winter view from Charlotte as winter storm Izzy creates dangerous conditions in Charlotte, N.C. on Jan. 16. Photo: Peter Zay/Anadolu Agency via Getty Images

A major winter storm was lashing much of the East Coast on Sunday, causing widespread power outages and disrupting travel over the holiday weekend.

The big picture: Heavy snow and ice accumulations are "likely to produce hazardous travel," downed trees and more power outages from the Mid-South to the Northeast, per the National Weather Service. Some parts of the U.S. can expect to see up to a foot of snow through Monday.

Updated 4 hours ago - Science

Volcanic eruption in Tonga caused "significant" damage

This satellite image of the eruption on Jan. 15 taken by Himawari-8, a Japanese weather satellite operated by Japan Meteorological Agency and released by National Institute of Information and Communications Technology (NICT). Photo: NICT via AP

Significant damage has been reported in Tonga following an undersea volcanic eruption on Saturday, which covered the Pacific nation in ash and cut off communication lines.

Driving the news: The eruption triggered tsunami warnings across Tonga's islands and in other regions, including the West Coast of the U.S. and New Zealand.