General Motors (GM) has been making trying to make significant strides in the electric vehicle (EV) market, but recent delays in the release of two highly anticipated models have put a damper on the company's progress. Both the GMC Hummer and Cadillac Lyriq have faced slow rollouts, raising concerns about the automaker's ability to compete in the EV space.
The Cadillac Lyriq has faced setbacks in its production timeline. Originally set for a 2022 release, the luxury electric SUV has been pushed back to early 2023 and very few units are trickling out as we speak. The delay is due in part to the global semiconductor shortage, which has disrupted supply chains across the automotive industry. The Lyriq was also delayed due to additional testing and development needed to meet the high standards of the luxury market.
The delays for GM models come at a critical time for GM, as the company has set ambitious targets for its EV portfolio. The automaker aims to have 30 new electric models in its lineup by 2025, and has committed to investing $27 billion in EV development by that same year. The delays raise questions about GM's ability to meet these targets, and whether it will be able to compete with other automakers who are also investing heavily in EVs.
GM CEO Mary Barra has emphasized the company's commitment to a zero-emissions future, stating that "we believe in an all-electric future and we are committed to leading the way." The company's EV push has also been supported by the Biden administration's focus on clean energy and infrastructure.
The delays for the GMC Hummer and Cadillac Lyriq are certainly a setback for GM, but the automaker remains dedicated to its EV strategy. But the delays raise questions about whether GM will be able to meet its targets and compete with other automakers in the highly competitive EV market.