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

Tesla continues longest profitability streak in company history

A Model 3 on display in a Tesla showroom in Beijing. (Photo: VCG/VCG via Getty Images)

Tesla reported its fifth consecutive quarter of profitability — raking in $331 million, the most money since the run began — alongside a record number of deliveries of its electric cars.

Why it matters: Tesla has become the world's most valuable automaker. It's on the longest money-making streak in company history, despite disruptions from the COVID-19 pandemic.

Ben Geman, author of Generate
Oct 21, 2020 - Economy & Business

GM dives full-throttle into electric

GMC Hummer EV. Photo courtesy of General Motors

What has LeBron James as a pitchman, some slightly awkward promotional phrasing ("watts to freedom"), and a six-figure starting price? The electric GMC Hummer.

Driving the news: General Motors unveiled the vehicle — a reborn version of the deceased mega-guzzler — with a highly produced rollout Tuesday night that included a World Series spot. The company also began taking reservations.

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