The electrification race is far from over, and every automaker realizes it, even Tesla (TSLA) – Get Tesla Inc report There is already an opportunity.
These cards can be reassigned at any time because Apple (AAPL) – Get Apple Inc. Report can enter this lucrative industry.Tim Cook’s team could work with Porsche (VWAGY) – Get the Volkswagen AG reportas TheStreet Rob Lenihan wrote.
However, the next few days should paint the landscape with two very important appointments.One is General Motors (GM) – Get General Motors Corporation Report The other is Tesla.
The Detroit giant will begin production Monday of its long-awaited Lyriq SUV, the first electric vehicle from its premium brand Cadillac.
The Spring Hill, Tennessee facility will be live-streamed at noon (ET). Participants will include General Motors President Mark Royce, Cadillac Vice President Rory Harvey, Tennessee Governor Bill Lee, UAW representatives, plant employees and other officials.
There will be a live stream here.
GM to open orders on May 19
General Motors has started the countdown to the event, known as the Cadillac Lyriq launch celebration, in a sign of how important the event is to the automaker.
The Lyriq is one of GM’s most advanced weapons against Tesla. The car will compete directly with Elon Musk’s Model Y SUV and the Ford Mustang Mach-E.
The base price is $58,795, excluding the $1,195 destination charge. The Model Y starts at $62,990, while the Mustang Mach-E starts at $43,895. Tesla has recently raised prices due to a surge in raw materials including nickel, a key metal in batteries.
The 2020 SUV/crossover Lyriq is important, even central, as GM invests tens of billions of dollars over the next few years to transform it into a conglomerate that makes mostly electric vehicles.
Lyriq is unique in that its design is done by computer. Based on GM’s Ultium architecture, the Cadillac Lyriq promises to usher in the electrification era for GM: Cadillac, Chevrolet, GMC and Buick.
It will be built in Spring Hill, where Saturn models were originally built, but GM has invested $2 billion to enable the plant to produce the Lyriq and other electric vehicles under the Cadillac brand.
The original timeline called for the Lyriq to be launched by the end of 2022, but GM has stepped up its pace, hoping to quickly catch up to Tesla, especially by pulling away from Ford.
On March 15, the automaker announced that orders would open on May 19.
There is a difference between a reservation and an order book. Open order means you can go to your car dealer and order the Cadillac Lyriq just like any other model from the brand.
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If there are no major production issues, the first Cadillac Lyriq will be delivered by the end of May. Initially, GM planned to deliver the first models by the end of June.
However, since GM didn’t provide the number of pre-orders it has received, there’s no way of knowing when consumers heading to dealerships on May 19 will be able to receive their vehicles.
Elon Musk in Germany?
The auto group said it had about 233,000 “raised hands” who expressed interest in deposits. These potential customers can cancel their order at any time.
On Tuesday, the day after the Cadillac event, Tesla had an equally big day. The current leader in electric vehicles will officially open its Berlin Gigafactory, which will serve the European market.
The invitations sent to a lucky few and employees spoke of Tesla delivering its first “Made in Germany” car, a Model Y SUV.
For obvious reasons – Russia’s war in Ukraine – the festivities dwindled. According to local media reports, about 500 people will attend. German Chancellor Olaf Schultz should be there, but his presence depends on the evolution of Russia’s invasion of Ukraine.
At the moment, we don’t know if Elon Musk will be heading there. But given how central the factory is to Tesla’s global ambitions, it wouldn’t be surprising if the billionaire was there.
Tesla’s opponents want to demonstrate in front of the car factory.
As we’ve written before, the opening of this plant is synonymous with increased production by the electric car maker in the coming weeks, which will make it one of the few manufacturers to cope with a surge in demand at the same time as gasoline prices at the gas station. Significantly affects diesel vehicle owners.
Tesla plans to produce as many as 10,000 Model Ys per week. The Berlin Gigafactory was supposed to help the company capture a sizable chunk of the European electric vehicle market, depending on the $5.7 billion the plant and Tesla spend to ramp up production.
In Germany, Tesla will also launch a 4680-cell structure battery that will be used in the Model Y SUV built in Europe. These batteries will usher in a new platform, basically a new technology.
The new structural batteries will be fabricated in such a way that the Model Y seats will attach directly to them, saving even more parts, space and money.
The two ends of the Model Y will be connected by a battery pack, which will also serve as the connecting element.
Batteries are the heart of electric vehicles because they determine the range and performance of the car. They also affect the safety and longevity of the car.