General Motors is bringing to market an all-electric Cadillac Escalade set to be called the Escalade IQ.
The vehicle is one of three new EVs Cadillac plans to reveal later this year. They will join the Lyriq SUV, now in production at Spring Hill Assembly in Tennessee, and the upcoming Celestiq, an ultraluxury sedan that will be hand built in Warren and start at $300,000.
GM has said Cadillac and Buick brands will have all-electric lineups by 2030.
GM said Cadillac’s nomenclature − the IQ naming strategy, which first appeared on the Lyriq − is meant to recognize that “Cadillac (is) introducing a different type of EV to the market − one that works in tandem with people’s daily lives and environments.”
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GM builds the internal combustion Escalade at its assembly plant in Arlington, Texas. The automaker declined to say whether the IQ would also be made there, nor would it disclose details about its reveal, production start, estimated range or how much it will cost.
“We will release additional details at a later date, including where the Escalade IQ will be built,” said Cadillac spokesperson Paige Tatulli.
The Escalade is Cadillac’s best-selling nameplate and it carries big profits. In the first quarter, GM reported it sold 9,228 Escalades, down 12% from the year-ago quarter but still the highest volume vehicle across the lineup. The next highest volume seller is the XT5 which sold 7,285 in the quarter, up 46% from the year-ago period.
But Cadillac has been slow to get the Lyriq − its only EV for sale currently − into customers’ hands. Since the first customer delivery of the Lyriq in July of last year through the end of March, GM has delivered 1,090 Lyriqs, a far cry from what customers and Wall Street expect out of GM. GM told suppliers last year to prepare to produce 25,000 Lyriqs. GM’s luxury brand has said the EV garnered about 233,000 hand-raisers −people who express interest in the car, but do not put money down.
Cadillac leaders said the slow build and shipment of the vehicles is part of a methodical rollout to ensure quality.
Cadillac is expected to hand-build fewer than 500 Celestiqs a year. It will arrive to customers in late spring 2024. In a few months, Cadillac will open pre-orders for the car.
