General Motors, through its Korean arm, plans to launch two new electric vehicles in 2024. According to Bloomberg, these new models are part of GM Korea’s expansion strategy in the domestic market.
“We aim to deliver a distinct and varied product experience exclusive to GM through our Chevrolet, Cadillac and GMC brands, putting the customer at the center of everything we do.”
GM Korea President/CEO Hector Villarreal said during a press conference held at the House of GM in Seoul
Upcoming models
GM Korea will launch the Cadillac LYRIQ and the Chevrolet Equinox EV in the South Korean market, alongside two other gas-powered cars. Both electric vehicle models will ride on the company’s Ultium platform.
Cadillac LYRIQ
The Cadillac LYRIQ has rear-wheel drive and all-wheel drive configurations, as per the official website.
The Cadillac LYRIQ RWD has an EPA-rated range of 314 miles from a 102 kWh battery pack. It also generates a maximum output of 340 horsepower and 325 lb. ft. of torque from a single motor.
Meanwhile, the AWD variant enables an EPA-rated range of 307 miles from the same battery pack. It offers a dual motor that generates up to 500 hp and 450 lb. ft. of torque.
Cadillac Equinox
The Cadillac Equinox is an all-electric vehicle with six available trims, including the Launch Edition, regular 1LT, 2LT, 3LT, and higher-tier 2RS and 3RS.
All trims will come with a single-motor, front-wheel drive powertrain configuration. Meanwhile, the dual-motor, all-wheel drive system (eAWD) is optional.
The FWD trims have a 159 kW electric motor that generates a maximum output of 213 horsepower. They can accelerate from 0-60 mph in 7.9 seconds and enable an EPA-rated range of 319 miles.
On the other hand, the eAWD trims feature a 215 kW dual motor that generates up to 288 horsepower. They can accelerate from 0-60 mph in 5.9 seconds. GM has yet to reveal more details about these trims’ range figures.
“We plan to strengthen GM’s presence in the fiercely competitive domestic market and meet the needs of those seeking the unique American product experience and new lifestyle that only GM can provide by expanding our comprehensive range of products.”
GM Korea President/CEO Hector Villarreal
GM Korea’s growing presence
GM Korea officially launched the House of GM in Seoul last year as it aims to expand its products’ reach to a wider range of customers in the country.
It also opened the Village of GM in Yeoju, Gyeonggi Province, in October last year to encourage customers to experience outdoor life with the brand’s SUVs and pickup trucks.
Moreover, GM Korea will also erect a new 23,556 sqm service hub in Seoul in July 2024.
GM has no plans to stop there, as it also plans to keep launching new electric vehicle models to expand the Ultium EV lineup. In 2023, its overall vehicle sales increased 76.6% YoY to 468,059 units. This year, it aims to achieve an annual production output of 500,000 units.
