Cadillac has introduced a high-performance version of its electric Lyriq, the Lyriq-V, with an estimated 615 horsepower and 650 foot-pounds of torque. The vehicle boasts a 285-mile range when fully charged and can accelerate from 0-60 mph in just 3.3 seconds. Priced at $79,995, the Lyriq-V will be available in the U.S., Canada, and other countries, with production starting in early 2025 at GM’s Spring Hill Manufacturing plant in Tennessee. Cadillac aims to become the top-selling luxury EV brand in the U.S. by 2025, excluding Tesla from its luxury competitors. Last year, Cadillac sold nearly 30,000 EVs, trailing only BMW’s 51,000 units. The average transaction price for a new electric vehicle was $55,544, not including EV incentives like the federal tax credit of up to $7,500. By the end of this year, Cadillac expects to have five EVs on sale, matching Tesla’s number of EV models, though Tesla held nearly 50% of the U.S. EV market share last year.
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