General Motors (NYSE:GM) announced Thursday that the Detroit automaker will begin selling all-electric Cadillac vehicles in Switzerland, marking the initial move in its reentry into the European market after divesting the Opel and Vauxhall brands in 2017.
In a blog post, Jaclyn McQuaid, GM's European leader, announced that Switzerland would be the first European market to witness direct-to-consumer sales of the premium Cadillac brand.
McQuaid added that the company will also add five additional European market’s in the coming years, with Sweden and France being the next destinations on the list.
The Cadillac Lyriq will be the first model of the luxury brand available to Swiss drivers.
McQuaid said customers will be able "complete the entire purchase online in a matter of minutes."
The Lyriq will be priced starting at 82,000 Swiss francs ($89,490).
In 2017, GM divested itself of the Opel and Vauxhall brands, which had been incurring losses for two decades. These brands were sold to France's PSA, and under PSA's ownership, they quickly turned the corner.
Subsequently, PSA went on to merge with Fiat Chrysler, creating the automotive conglomerate known as Stellantis (EPA:STLAM) (NYSE:STLA).
Shares of GM are down 1.26% in mid-day trading on Thursday.