Cadillac teases new Opulent Velocity performance EV concept, is it too little too late?

Cadillac gave a sneak peek of “the future of electric performance,” teasing its new Opulent Velocity EV concept. But with GM falling behind in the EV market, is a concept enough at this point?

General Motors has already pushed back production of several key electric models, including the Equinox EV, Silverado EV, and GMC Sierra Denali EV.

The automaker just lifted the Chevy Blazer EV stop-sale last week after nearly three months due to software issues. GM’s CEO Mary Barra said 2024 will be the “year of execution” as the automaker looks to get back on track.

On the top of GM’s to do list this year is “getting vehicles out there right and getting the software,” according to Barra.

GM lowered Blazer EV prices by up to $6,500. After regaining eligibility for the $7,500 EV tax credit, the Chevy Blazer EV 2LT AWD starts at $42,695 (including the credit). That’s still more than the Tesla Model Y, which starts at $36,490 with the tax credit.

A more affordable Blazer EV is set to debut later this year. It will join the Chevy Equinox EV, starting at $34,995. GM expects the Equinox EV to be “the most affordable” in its segment with up to 319 miles range.

Cadillac teasing new Opulent Velocity performance EV

GM’s latest concept celebrates the past, present, and future of Cadillac’s performance brand, V-Series.

The concept represents the Cadillac brand in its the name itself: Opulent + Velocity. The EV showcases the brand’s Oculence with a vision of high-velocity performance driving.

“Opulent Velocity is designed to foreshadow a zero emissions expression of performance and modern luxury leadership,” Bryan Nesbitt, executive director, Cadillac Global Design, said.

The teaser comes 20 years after the first V-Series model was launched at the Sebring International Raceway in March 2004. Nesbitt said more details will emerge later this year, so check back soon.

Electrek’s Take

At this point, GM is already falling behind in the EV market. The automaker ended production of its best-selling Chevy Bolt at the end of 2023.

Although a new Ultium-based Bolt is expected to be revealed next year, GM will face stiff competition with new entry-level EVs like the Volvo EX30 rolling out.

Barra claimed 2024 will be the year of execution, but instead of having all hands on deck, GM is still putting out concepts. GM should be doubling down with all of its resources to get EVs into the hands of customers.