In this article, General Motors unveiled a new $80,000 performance version of the all-electric Cadillac Lyriq, aiming to make Cadillac the top-selling luxury EV brand in the U.S. this year. Cadillac plans to achieve this goal by expanding its electric vehicle lineup, including models like the performance Lyriq-V, Escalade IQ SUV, and the upcoming Optiq crossover.
During a media briefing, Cadillac Vice President John Roth expressed the company’s ambition to establish Cadillac as the best-selling luxury EV brand in the U.S. by 2025. Despite this, Cadillac clarified that it does not consider Tesla a luxury manufacturer, citing Audi and Mercedes-Benz as its main competitors.
Excluding Tesla, which dominates the U.S. EV market, Cadillac sold nearly 30,000 EVs last year, trailing only BMW. Tesla, on the other hand, sold over 633,000 EVs in the U.S. in the same period. The automotive industry, traditionally divided into mainstream and luxury brands, now sees brands like Cadillac and Tesla offering vehicles across various price points.
Cadillac’s EV lineup is expected to range from $54,000 for the Optiq to over $150,000 for the Escalade IQ, with a bespoke model called the Celestiq priced at over $300,000. The average transaction price for a new electric vehicle at the end of last year was $55,544, excluding incentives like the federal tax credit.
Cadillac plans to have five EVs on sale by the end of this year, matching Tesla’s lineup. The Lyriq-V, with 615 horsepower, 650 foot-pounds of torque, and a 285-mile range, is set to achieve 0-60 mph in 3.3 seconds. It will be produced at GM’s Spring Hill Manufacturing plant in Tennessee, starting in early 2025, and will be available in the U.S., Canada, and other countries.
