DETROIT — General Motors on Thursday unveiled an $80,000 all-electric Cadillac Lyriq performance version as the Detroit automaker aims to become the best-selling luxury electric vehicle brand in the U.S. this year.

Cadillac hopes to achieve that goal with an expanding lineup of electric vehicles, such as the high-performance Lyriq-V, Escalade IQ SUV and the upcoming entry-level Optiq crossover.

“We will position Cadillac as the best-selling luxury electric vehicle brand in the U.S. in 2025. Let me repeat that: the best-selling luxury electric vehicle [brand] in 2025,” Cadillac Vice President John Ross said at a news conference. “There’s no limit to what we can do in the luxury electric vehicle space.”

But the “luxury” space may not be as clear-cut as it seems. Cadillac said after Ross’ comments that it won’t include Tesla in its lineup Cadillac is positioning itself as a “luxury” automaker, even though some of its products are priced in the same ballpark as some of its rivals. A brand spokesman said Cadillac lists brands such as Audi and Mercedes-Benz as its core competitors.

“There are a few models in the Tesla lineup that may fit the luxury positioning, but they still incorporate some interesting elements into the brand,” Ross said.

In addition to Tesla, which is far ahead in the US electric vehicle market, Cox Automotive reported that Cadillac sold nearly 30,000 electric vehicles last year, just behind BMW’s approximately 51,000. Audi and Mercedes-Benz also have sales close to Cadillac. In contrast, Cox estimates that Tesla sold more than 633,000 electric vehicles in the United States last year.

Historically, the auto industry has been made up of “mainstream” brands such as Chevrolet and luxury brands such as Cadillac. But today, many brands, including Cadillac and Tesla, offer vehicles across a wide range of prices.

Tesla’s pricing ranges from about $42,500 for the Model 3 sedan to about $100,000 for vehicles like the Cybertruck and Model S Plaid. By comparison, Cadillac’s electric vehicles, once available, are expected to range in price from $54,000 for the Optiq to more than $150,000 for the Escalade IQ. Cadillac also offers a custom car, the Celestiq, for more than $300,000.

For reference, Kelley Blue Book reports that the average transaction price for a new electric vehicle was $55,544 at the end of last year. That doesn’t include consumer EV incentives, such as a federal tax credit of up to $7,500.

Cadillac expects to have five electric vehicles on the market by the end of the year, compared to three currently. That would put it on par with Tesla’s number of electric vehicles, but Tesla’s share of the U.S. electric vehicle market was still estimated to be close to 50% last year

As for the Lyriq-V, Cadillac says it will have about 615 horsepower, 650 foot-pounds of torque and a 285-mile range on a full charge. 0-60 mph acceleration is expected to be as fast as 3.3 seconds.

The Lyriq is Cadillac’s first mass-produced electric vehicle and is included in its high-performance V-Series model. The Lyrq-V is generally similar to the regular model but includes unique badging and enhanced performance parts and other accessories to improve driving dynamics.

GM says the Lyriq-V will start at $79,995 and will be sold in the U.S., Canada and other countries, with production to begin in early 2025 at GM’s Spring Hill manufacturing plant in Tennessee.
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