Cadillac Lyriq to charge up Saudi EV space with 2023 launch

Together with GM, Cadillac will collaborate closely with Saudi Arabia’s entire ecosystem to ensure infrastructure readiness and consumer acceptance. (Supplied)
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Updated 12 September 2022
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Cadillac Lyriq to charge up Saudi EV space with 2023 launch

  • Target of electrifying 30 percent of Riyadh’s transportation is driving a lot of momentum: Official

JEDDAH: Cadillac, a division of the US automobile manufacturer General Motors Corp., is planning to launch its first electric vehicle in Saudi Arabia during the first half of 2023.

The automobile major will launch Cadillac Lyriq in the US and China first, followed by the Middle East, according to Kristian Aquilina, managing director of Cadillac Middle East and international operations.

The company is presently finalizing the production and certification process of Lyriq with the local authorities, said Aquilina.

“We are talking to some government authorities, and their target of electrifying 30 percent of Riyadh’s transportation by 2030 is driving a lot of momentum,” Aquilina said.

According to a press note, Lyriq offers high-speed DC fast charging for public stations at 190 kW, enabling customers to add an estimated 76 miles of range in about 10 minutes of charging time.

For home charging, the luxury brand has a segment-leading 19.2 kW charging module, adding up to 52 miles of range per hour of charge. 

HIGHLIGHTS

• According to a press note, Lyriq offers high-speed DC fast charging for public stations at 190 kW, enabling customers to add an estimated 76 miles of range in about 10 minutes of charging time.

• For home charging, the luxury brand has a segment-leading 19.2 kW charging module, adding up to 52 miles of range per hour of charge.

• The manufacturer confirmed that six luxury electric vehicles will be present by 2025, outlining its commitment to the Kingdom’s clean mobility.

The manufacturer confirmed that six luxury electric vehicles will be present by 2025, outlining its commitment to the Kingdom’s clean mobility and net zero 2060 targets.

The Cadillac Lyriq will be the first in the line, followed by the newly revealed Celestiq, which will offer Ultra Cruise, its hands-free driver assistance technology running on Qualcomm’s Snapdragon ride platform. The machine will also feature a smart glass roof manufactured by US-based nanotechnology company Research Frontiers with a dashboard-width touch screen.

Like the Cadillac Lyriq, Celestiq will use GM’s Ultium battery technology and Battery Electric Vehicle 3 platform.

Cadillac’s Global Vice President Rory Harvey told Arab News that the automobile manufacturer would transform into an all-electric brand by the decade’s close.

“I’m on public record saying we will be all EV by 2030,” he said.

Super Cruise, the region’s first hands-free driving assistance technology, will also be available in 2024 on Cadillac’s entire fleet.

Commenting on the competition from EV manufacturers, Harvey said Cadillac has a competitive advantage due to its experience producing cars in large numbers with the right quality.

He further said that having a dealership base also allows the American automobile to provide after-sales service to its consumers.

“There’s just a huge amount of advantages out there for us as historical original equipment manufacturers,” he added.

Aquilina pointed out that the Celestiq is going to have a low volume production because of its select premium target audience.

The Kingdom is currently in the early stages of developing infrastructure here, and it will move very quickly, he added.

Together with GM, Cadillac will collaborate closely with Saudi Arabia’s entire ecosystem to ensure infrastructure readiness and consumer acceptance.


Closing Bell: Saudi equities continue 4-day upward trend 

Updated 14 January 2026
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Closing Bell: Saudi equities continue 4-day upward trend 

RIYADH: Saudi equities closed higher on Wednesday, with the Tadawul All Share Index rising 51.52 points, or 0.47 percent, to finish at 10,945.15. 

Trading activity was robust, with 373.9 million shares exchanged and total turnover reaching SR6.81 billion. 

The MT30 Index also ended the session in positive territory, advancing 11.93 points, or 0.82 percent, to 1,472.82, while the Nomu Parallel Market Index declined 116.82 points, or 0.49 percent, to 23,551.47, reflecting continued volatility in the parallel market.

The main market saw 90 gainers against 171 decliners, indicating selective buying. 

On the upside, Al Kathiri Holding Co. led gainers, closing at SR2.18, up SR0.12, or 5.83 percent. Wafrah for Industry and Development Co. advanced to SR23, gaining SR0.99, or 4.5 percent, while Al Ramz Real Estate Co. rose 4.35 percent to close at SR60.

SABIC Agri-Nutrients Co. added 4.21 percent to SR118.70, and Al Jouf Agricultural Development Co. climbed 4.12 percent to SR45. 

Meanwhile, losses were led by Saudi Industrial Export Co., which fell 9.73 percent to SR2.69. United Cooperative Assurance Co. declined 5.08 percent to SR3.74, while Thimar Development Holding Co. dropped 4.54 percent to SR35.30.  

Abdullah Saad Mohammed Abo Moati for Bookstores Co. retreated 4.15 percent to SR48.50, and Gulf Union Alahlia Cooperative Insurance Co. slipped 3.96 percent to SR10.44. 

On the announcement front, Saudi National Bank announced its intention to issue US dollar-denominated Additional Tier 1 capital notes under its existing international capital programe, with the final size and terms to be determined subject to market conditions and regulatory approvals.  

The planned issuance aims to strengthen Tier 1 capital and support the bank’s broader financial and strategic objectives.  

The stock closed at SR42.70, gaining SR0.70, or 1.67 percent, reflecting positive investor reaction to the capital management move. 

Separately, Almasane Alkobra Mining Co. said its board approved the establishment of a wholly owned simplified joint stock company to provide drilling, exploration and related support services, with a share capital of SR100 million and headquarters in Najran, subject to regulatory approvals.  

The new subsidiary aligns with the company’s strategy to enhance operational efficiency and expand its role in the Kingdom’s mining sector.

Shares of Almasane Alkobra Mining closed at SR98.70, up SR0.30, or 0.3 percent, by the end of the session.