On Monday, General Motors (GM) expanded its presence in the European market by unveiling its luxury electric Cadillac Lyriq in France. The move comes as the company returned to the European market last year, and it aims to test whether online-only sales will appeal to wealthy car buyers.
In October, GM announced its return to the European market with an all-electric focus, starting with sales in Switzerland. This move marks the first step in the company’s reentry since the sale of the Opel and Vauxhall brands in 2017.
Unlike in its home market, where it relies on a large dealer network, European customers can fully customize and purchase their Cadillac EVs online.
Under pressure from Chinese competitors and sluggish demand growth, European automakers are focusing on developing more affordable electric vehicles. At a launch event in Paris, Jaclyn McQuaid, GM’s European head, informed reporters that electric SUVs are expected to be the fastest-growing segment of zero-emission vehicles. She highlighted this trend as the automotive industry continues to evolve.
“When you look at the battery electric vehicle market in France, it is the luxury market that grew to the greatest extent,” McQuaid told Reuters. “The luxury market is where the focus is right now.”
Last year, Tesla’s (TSLA.O) Model Y SUV was the best-selling electric car in France, with a starting price of 42,990 euros ($46,500).
Highlighting Cadillac’s French heritage, French adventurer Antoine de la Mothe Cadillac founded Detroit in 1701. McQuaid stated that other electric models would follow, utilizing the same architecture as the Lyriq. These electric models are manufactured in Tennessee.
In Switzerland, the Lyriq starts at 82,000 Swiss francs ($93,100), but GM did not provide pricing for France.
Cadillac also plans to open a showroom in Paris, and the Lyriq will be available for order online beginning March 23. The luxury EV is set to launch in other European markets, beginning with Germany by the end of the year.
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