Cadillac just revealed the design of its first EV

2020 Cadillac XT6

General Motors' luxury brand Cadillac is beginning a full-on assault on brand identification in order to take back America's hearts as a status symbol for opulence.

On the eve of the 2019 Detroit Auto Show, Cadillac has surprised the media with a first look at an upcoming electric crossover SUV, perhaps the first of many electric vehicles to come for the marque.

Shares of Tesla (TSLA) tumbled 2.4 percent as manufacturers from Detroit to Japan unveiled new competition for buyers in the electric vehicle maker's key market at the Detroit Auto Show.

"The first-ever Cadillac XT6 delivers a compelling blend of spaciousness, safety and convenience features for customers who thrive on doing it all", said Steve Carlisle, Cadillac president.

The all-new three-row vehicle will be a part of Cadillac's popular crossover and SUV lineup.

The Cadillac EV's name and additional details will be revealed closer to launch.

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That platform, GM said, will allow the company "to respond quickly to customer preferences with a relatively short design and development lead time" due to its flexibility and variability. The company plans to release a new model every six months through 2021.

The new platform will be flexible, and adaptable to front-, rear- and all-wheel-drive configurations.

The XT6 will soon be followed by a new Escalade and a new performance sedan.

The second is that a launch date of 2022 or later means that the unnamed large Cadillac electric SUV will be profitable for the company, probably unlike the current Chevrolet Bolt EV when using generally accepted accounting principles.

It'll take the form of a crossover because of course it will, and it will sit on GM's future electric vehicle platform.

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