GM announces new gas-powered Cadillac vehicles amid EV pullback - CNBC

What the report says

CNBC reported that General Motors plans to introduce a new lineup of gasoline-powered Cadillac vehicles starting next spring, marking another step back from the brand’s earlier all-electric ambitions. CEO Mary Barra told investors during GM’s second-quarter earnings call Tuesday that the next generation will include gas versions of the CT5 sedan, the XT5 midsize SUV and the three-row XT6 SUV, which had been discontinued.

According to CNBC, Barra said the internal-combustion Cadillac launches will continue through 2028 and will sit alongside Cadillac’s existing electric crossovers and the electric Escalade SUV. The announcement contrasts with GM’s prior plan for Cadillac to sell only electric vehicles by the end of the decade.

The shift comes as GM has scaled back several electric-vehicle targets across its brands and increased production plans for gasoline engines, including V-8 models. CNBC reported that the company has taken $10.9 billion in EV-related charges since the second half of last year, citing slower-than-expected EV adoption and U.S. regulatory changes that eased emissions rules and removed some EV support.

Barra also said GM intends to bring more manufacturing into the United States beginning next year. CNBC reported that part of that plan includes expanding production of GM’s full-size SUVs to a Michigan plant previously intended for EVs. Those models — including the Cadillac Escalade, Chevrolet Tahoe and Suburban, and GMC Yukon lineup — are currently made only at GM’s Arlington Assembly plant in Texas.