Perhaps most significant, Reuss said GM is aiming to be the first automaker to build electric cars that are both profitable and attainable and that it would be investing earnings from its strong-selling models of today, like traditional pickups and SUVs, in electrification.
GM hasn't yet said whether that first Cadillac EV will be a sedan, coupe or crossover, nor where it will be built.
A GM spokesman declined to comment. The move represents a sharp departure by the company that championed plug-in hybrids with the soon to be discontinued Chevrolet Volt.More news: Yankees Reportedly Sign Another Infielder Who Isn’t Manny Machado
GM's current EV portfolio includes the Chevrolet Volt, a plug-in hybrid, and the Bolt, an all-electric vehicle.
GM said in November as part of its restructuring efforts it was doubling resources for electric and autonomous vehicle programs over the next two years. According to Michael Albano, a GM spokesperson, the biggest automaker in the US restructured its entire product development organization in order to shift its focus to electric vehicles. These will range from a compact SUV, to a large seven-seat luxury crossover and a large commercial van.
Last year, the then-president of Cadillac told Reuters Cadillac will have a "central role" in GM's EV strategy for the future, not just on the domestic market but also in China.More news: Baltimore Ravens promote Greg Roman to offensive coordinator to replace Marty Mornhinweg
Cadillac will become the face of GM's push into the electric-vehicle market, although it's unclear when exactly it will appear on the market. He left GM in April. Cadillac sales in China are on the rise, with the figure past year exceeding 200,000 for the first time, Reuters notes.
After four years of record or near record USA sales of about 17 million vehicles, GM said Friday it expects 2019's numbers to be in that range, and that it sees the Chinese market holding up with about 27 million sales.
It is possible that the electric Cadillac will be targeted at the Chinese market where the government has implemented an aggressive electrification strategy to combat air quality problems and reduce the reliance on oil imports; the country aims to boost hybrid and electric auto sales 10 fold over the next decade via incentives and mandates.More news: Michael Jackson's estate slams HBO documentary alleging sexual abuse