Without an SUV classification, the Cadillac Lyriq exceeds the price threshold for federal tax credits for EVs.
U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.
In the fourth quarter, Stellantis reported new vehicle sales declined 16% to 347,669 vehicles.
As of January 1, consumers can lease electric vehicles and qualify for up to $7,500 in commercial clean vehicle tax credits.
Joins growing list of carmakers embracing electrification.
Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.
Details of CX-90 to be fully revealed in January.
The new facility will employ 1,500 people and produce enough cathode and anodes components to supply 1 million EVs annually.
Magazine cites in part the model’s appeal to existing truck owners.
The U.S. Energy Department finalized a $2.5 billion loan to a joint venture of General Motors Co. and LG Energy Solution for three lithium-ion battery cell manufacturing facilities.
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