Cadillac Lyriq increase production with growing demand and battery supply

General Motors (GM) is increasing the production of its Cadillac Lyriq electric vehicle (EV) after the demand for the car continues to increase and the required battery quantity rises sharply.

Cadillac VP John Roth recently told the media that the company has to begin increasing the production of the Cadillac Lyriq electric sport utility vehicle.

Roth mentioned that the company sold about 9,000 Lyriq models in 2023 including 2,4000 units in the first half of the year.

Cadillac Lyriq

“It’s been a measured build-up and launch as battery modules have become available and, now that we’re in a position with strong inventory, we’re seeing great sales performance,” Roth said, adding he had “high expectations” of that continuing.

The Lyriq vehicle accounts for about 12% of the sales in the fourth quarter of 2023. Unfortunately, Lyriq buyers can’t claim the $7,500 federal tax credit due to new eligibility guidelines.

However, GM claims that the vehicle will be eligible for the EV incentive after a few changes this year.

(source – Reuters)