General Motors is returning its Cadillac brand to Europe in a new attempt to compete in a market that has been losing money for decades, this time through electrification. General Motors said on Thursday it was taking orders for its battery-powered Cadillac Lyriq SUV in Switzerland, with deliveries expected to begin in the first half of 2024.
In the next two years, GM's high-end brand plans to push its electric models to Sweden, France and three other European countries, and plans to launch a full range of pure electric models in Europe by 2030.
General Motors has kept a low profile in Europe over the past few years, exporting only a small number of cars here. The company sold its Opel and Vauxhall brands to what is now Stellantis in 2017 after two decades of painful losses. GM caters primarily to Europe's crowded mass market, where fierce price competition keeps profit margins razor-thin. However, the new owners of Opel and Vauxhall made both brands profitable in less than a year.
GM plans to sell Cadillac electric vehicles directly to European consumers through its website and flagship stores, including one in downtown Zurich. The models will be built at a Cadillac plant in Spring Hill, Tennessee, which has not yet been affected by a UAW strike that has shut down GM plants elsewhere in the country.