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GM unveils its electric Tesla competitor, the Cadillac Lyriq

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Published on Aug 07, 2020
CNBC's Phil LeBeau reports on General Motors' latest entry into the electric vehicle market, the Cadillac Lyriq. With CNBC's Melissa Lee and the Fast Money traders, Guy Adami, Steve Grasso, Jeff Mills and Bonawyn Eison. Subscribe to CNBC PRO for access to investor and analyst insights on GM and more:

General Motors unveiled the Cadillac Lyriq crossover Thursday night as the “next chapter” for the American luxury brand and a “technology spearhead” for the automaker.

The Lyriq is the first to debut with the automaker’s next-generation batteries and EV architecture. GM executives believe the technologies will rival, if not outperform, anything else on the market today, including Tesla, the global leader in electric vehicle sales.

“It marks a turning point for the brand, a pivot point for the brand, an opportunity to regain momentum and position the Cadillac brand for its next chapter,” Cadillac President Steve Carlisle told reporters during a media briefing. “Lyriq really is the cornerstone upon which we are going to build the future.”

GM plans to have a majority, if not all, of its Cadillac cars and SUVs sold globally to be all-electric vehicles by 2030. The brand is expected to lead GM in its global EV plans.

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