Cadillac is poised to introduce the Optiq, a compact electric SUV, to its growing EV portfolio in 2024. Positioned below the Lyriq, the Optiq aims to broaden Cadillac’s reach in the burgeoning electric luxury market. Initial images reveal design cues reminiscent of the Lyriq, including the distinctive split taillights. However, Cadillac is keeping further details under wraps until closer to the Optiq’s official launch.
The Optiq is expected to leverage General Motors’ versatile Ultium platform, which underpins the Lyriq and other Cadillac EVs. The Ultium system encompasses a modular architecture of battery modules, electric motors, and a wireless battery management system, enabling a flexible approach to EV development.
This smaller, potentially more affordable EV fills a critical gap in Cadillac’s lineup. While the brand offers lower-priced gasoline models like the XT4 and XT5, its current electric offerings are primarily high-end. The Lyriq, starting around $60,000, appears relatively budget-friendly compared to the upcoming Escalade IQ, projected to exceed $100,000 in some configurations, and the ultra-luxury $340,000 Celestiq sedan. The Optiq will enable Cadillac to compete more effectively with rivals like the Audi Q4 e-tron, Genesis GV60, and Mercedes-Benz EQB, all of which occupy the entry-level luxury EV segment.
Exterior of the Cadillac Optiq compact electric SUV.
Cadillac has strategically refrained from announcing a precise launch date for the Optiq. This cautious approach is likely wise, considering GM’s current challenges in scaling EV production. The Lyriq is currently the sole Cadillac EV in production. While the Celestiq is slated to begin limited hand-built production before the end of 2023, the Escalade IQ, unveiled in August, isn’t scheduled for production until summer 2024.
GM is currently navigating production bottlenecks across its EV portfolio. The Lyriq, along with other GM EVs such as the Chevrolet Silverado EV, Blazer EV, and GMC Hummer EV, are experiencing slower-than-anticipated production ramps. GM recently postponed planned production increases for the Silverado EV, its GMC Sierra EV counterpart, and the Chevy Equinox EV. Further complicating matters, GM has a backlog of unannounced EVs, including a Chevy Bolt EV replacement and Buick’s first electric vehicle, alongside a contract to manufacture the Honda Prologue and Acura ZDX. With such a full pipeline, Cadillac’s deliberate approach with the Optiq’s launch appears well-justified.
Exterior of the Cadillac Optiq compact electric SUV.
