General Motors stunned the crowd last week with its electrification plans, which also included the introduction of its Cadillac’s first all-electric Crossover. Named Cadillac Lyriq, the automaker promised to showcase it on April 2 in Los Angeles. However, that ain’t going to happen, as the event has been called off due to coronavirus fears.
Automotive News revealed that the luxury automaker is pondering over the debut of its first electric crossover. As obvious, this news isn’t well received by the stock traders. The company’s shares fell to the lowest level since its initial public offering ten years ago. The GM shares were trading at $24.69 last Monday.
The coronavirus outbreak is affecting every aspect of the worldwide businesses and GM is no exception. The automaker is limiting the travels of its employees and is conducting meetings online.
Talking about the Cadillac Lyriq, it will use a new modular platform for EVs and Ultium batteries, which offer “high energy options, fast-charge ability, and up to 644 km of range”. For Lyriq, Cadillac will use a 200 kWh battery pack for its top-of-the-line model to deliver 644 kilometers of range. The electric crossover will be built at General Motors’ Detroit-Hamtramck Assembly Plant.
The coronavirus epidemic is changing the landscape of the automotive industry with some big events like the Beijing Motor Show and Geneva Motor Show already canceled and some automakers forced to halt manufacturing.
Source and Images: Motor1