Cadillac's Upcoming Electric Vehicle in 2024

Home > Industry Analysis > Content

【Summary】Cadillac has announced the launch of its new Optiq electric vehicle in 2024, which will serve as the entry-level model in Cadillac's EV lineup in North America. The pricing details for the Optiq are not yet available, but it is expected to have "spirited driving dynamics" to appeal to luxury customers. This announcement gives Cadillac flexibility in pricing, as their current luxury compact SUV, the Lyriq, starts at $58,590.

FutureCar Staff Nov 19, 2023 10:17 PM PT

Cadillac's Upcoming Electric Vehicle in 2024

When discussing "entry-level" electric vehicles, there is some ambiguity regarding whether it refers to the size of the vehicle or its price point compared to other electric models from the same automaker. This confusion arises due to the prevalence of SUVs and crossovers in the U.S. automotive market. Additionally, there is speculation about whether VinFast will introduce its VF3 electric vehicle in the United States.

Last weekend, Cadillac provided its own answer to this question by announcing the release of its Optiq electric vehicle in 2024. While details are scarce, Cadillac revealed that the Optiq will serve as the entry-level option for their EV lineup in North America, positioned below the luxury compact SUV, LYRIQ.

Business Insider noted that this positioning allows Cadillac flexibility in pricing, considering that the LYRIQ starts at $58,590. The pricing for the Optiq remains unknown, but Cadillac claims that its spirited driving dynamics are designed to appeal to global luxury customers.

Cadillac has also unveiled the All-Electric Escalade IQ, an electric version of their renowned luxury SUV. This electrified model boasts a range of over 400 miles.

In the United States, questions about the adoption and affordability of electric vehicles persist. Road & Track writer Brian Silvestro highlighted the difficulty of finding any new car under $30,000, let alone a long-range EV like the Chevrolet Bolt EV. Furthermore, the limited options for car buyers seeking vehicles under $20,000 remain a pressing issue.

If electric vehicles are indeed the future of automobiles, it is crucial for both luxury models and more affordable options to be available. It remains uncertain whether the Optiq will contribute to bridging this gap.