DETROIT — Cadillac dealers who don't see a place for themselves in the luxury brand's all-electric future can walk away with more than half a million dollars instead.
General Motors last week showed the breadth of its commitment to electric vehicles as the future of Cadillac and its other brands, boosting its EV and autonomy budget by 35 percent through 2025. Cadillac's first full EV, the Lyriq, will launch in early 2022, nine months sooner than initially planned, and the brand expects to be selling only EVs by 2030, as long as GM feels the market is ready.
Some dealers, on the other hand, aren't ready to make that shift — or to spend at least $200,000 on the chargers, tooling and training that GM is requiring. They have until Nov. 30 to decide whether they'd rather just get out instead.