Buick started June of this year with a revelation – it will become a full EV brand by the end of the decade. The first production Buick electric vehicle will be launched in 2024 for the North American market. Naturally, this move entails dealers to invest money to convert their showrooms and service centers to cater to electric vehicles, which include charging stations and other upgrades.
For dealers who do not wish to make that substantial investment, Buick will be offering a buyout. This was confirmed by Global VP of Buick, Duncan Aldred, to The Wall Street Journal, which first reported about the offer.
“Not everyone necessarily wants to make that journey, depending on where they’re located or the level of expenditure that the transition will demand,” Aldred told WSJ. “So if they want to exit the Buick franchise, then we will give them monetary assistance to do so.”
There are 1,963 Buick dealerships in the US according to Automotive News‘ Dealers Census data. The majority of these dealerships are in tandem with GMC – only 13 are standalone dealers. Those who will take the buyout may be able to continue selling other GM brands.
Buick will be selling EVs under the Electra nameplate, while using alphanumeric identifiers for each model.
“Buick’s new logo, use of the Electra naming series, and a new design look for our future products will transform the brand,” Aldred said in a previous statement.
As mentioned, the first Buick EV will be introduced in 2024. The Wildcat EV Concept (picture above) previews the Buick’s new design language in its transition to electric power. The company has also introduced several models bound for the Chinese market – one of them already wearing the latest styling.