General Motors unveiled the Cadillac Lyriq crossover
Trying to capitalize on the red hide electric vehicle market with an all new ev crossover. Let's get to fill Abo-. He's got all the details hey phil. Hey Melissa. This has been in the works for some time and General Motors has made it clear. Cadillac will be the brand that will lead all of its major technology push into electric vehicles over the next several years. So with that in mind last night, they gave us a first look and here it is the new Cadillac Lyric, which is a mid size crossover utility vehicle. This is pretty close to what it's GonNa look like when it ultimately comes out in a few years when you look at the lyric keep in mind that they're saying that. The range will be at least three, hundred miles and the inside has just phenomenal appearance in terms of what it will do with the heads up, display the panel in the front in front of what they call the cockpit behind the instrument, the instrument panel behind the steering wheel it looks fantastic but keep in mind. This is a vehicle that we will not see until twenty, twenty two. That's because they have to build out charging infrastructure around the country. They're not even saying, Hey, we don't know exactly how much of a charge you're going to get with. A quick charge let's over twenty or thirty minutes but the goal here is to become much more competitive and ultimately beat Tesla. Yes. General Motors believes that it can be Tesla if they're gonNA do that they better win in California that is the number one ev market in this country take a look at sales last year we're just showing brand sales here between Tesla and Cadillac, and when you compare the two no comparison at all that is Tesla's biggest market and they're doing quite well there you go. Seventy, two, thousand last year were sales of tests in. California Cadillac little over eleven thousand, they've got their work cut out for them and certainly have their work cut out in terms of catching up to them when it comes to market cap tesla's market cap more than seven times bigger than General Motors in one other piece of Ev Related News. We've been talking about spanks Melissa. You've got fisker, which is what about three weeks ago there was a SPEC that was announced that fisker will ultimately go public through. Well, today they announced that this car, the ocean ev will be built by Magnus tear at Magnus tears. Facility over in Europe we should be clear here. They did not announce that our sources tell us that we reached out to the company. They say they have no comment at this time, but the bottom line is this Melissa everybody wants to get into this space, but we're not going to see a big flutter flurry of these vehicles for at least a couple of years. Thanks, Philibeaux. Bond when I'm not quite sure what the strategy is for releasing the specs of a cool looking car that won't be on the market at all until two, thousand, twenty, two I don't know if people are going to hold off and say, I'm GonNa wait for that Cadillac lyric and not by my tests because the lyrics going to come out and twenty, twenty two. I. Don't know what do you think? Yeah. Patience is a virtue but not not when you have somewhere to be so listen conceptually I do think it makes sense for for Cadillac they've been trying to shift their demographic for years. Now I think they've had a storied past of being a large boxy car I mean you think of an older generation and they've they've gradually typically captain gradually shifted that demographic but that's just it's a concept we're talking about latter half twenty, twenty, two, I mean, what does the consumer demand look like what is the infrastructure look like and then what other technological developments have been made by Tesla and other competitors by the time they're actually able to bring this thing to market. I also thought it was interesting that they had already pegged price in the seventy thousand dollar range. We don't know if that's really going to be an ethical applicable price point two years out. So again, think it's a great headline tension grab her nights in.