GM Unveils High-Performance Cadillac Lyriq-V as It Aims to Lead Luxury EV Sales in 2025
The automaker plans to reach its goal with a growing lineup of electric vehicles, including the Lyriq-V, Escalade IQ, and upcoming Optiq crossover.
DETROIT — General Motors (GM) introduced a new $80,000 performance variant of its Cadillac Lyriq electric SUV on Thursday, signaling its ambitions to become the top-selling luxury electric vehicle (EV) brand in the U.S. by 2025.
The automaker plans to achieve this goal through an expanding portfolio of electric vehicles, including the performance-oriented Lyriq-V, the Escalade IQ SUV, and the soon-to-arrive entry-level Optiq crossover.
"We are positioning Cadillac to become the bestselling luxury EV brand in the U.S. by 2025. Let me emphasize that again: the bestselling luxury EV brand in 2025," Cadillac Vice President John Roth announced during a media briefing. "The potential for the luxury EV market is limitless."
However, Cadillac clarified that it does not consider Tesla a "luxury" brand, even though some Tesla models are priced similarly to those of Cadillac’s. A company spokeswoman explained that Cadillac views brands such as Audi and Mercedes-Benz as its primary competitors in the luxury EV market.
Roth acknowledged that certain Tesla models may qualify as luxury vehicles but noted that Tesla continues to evolve with unique approaches to the automotive space.
Excluding Tesla, which dominates the U.S. EV market, Cadillac’s nearly 30,000 EVs sold in 2024 were second only to BMW’s roughly 51,000 units. Audi and Mercedes-Benz were also in close competition, while Tesla's sales soared to more than 633,000 vehicles last year, according to Cox Automotive.
Historically, the automotive market has been divided into "mainstream" brands like Chevrolet and luxury brands like Cadillac. However, many brands, including Cadillac and Tesla, now offer vehicles across various price points. Tesla’s range spans from the Model 3 sedan, starting at around $42,500, to the more premium Cybertruck and Model S Plaid, priced close to $100,000. Cadillac’s EV lineup is expected to range from about $54,000 for the Optiq to over $150,000 for the Escalade IQ, with its bespoke Celestiq model priced at more than $300,000.
According to Kelley Blue Book, the average transaction price for a new electric vehicle in 2024 was $55,544, not including consumer incentives such as the federal tax credit of up to $7,500.
By the end of 2025, Cadillac expects to have five EV models on sale, expanding its current lineup of three. This would put the automaker on par with Tesla in terms of available EVs, though Tesla was estimated to capture nearly 50% of the U.S. EV market share in 2024.
The Lyriq-V, which will feature 615 horsepower, 650 foot-pounds of torque, and an estimated 285-mile range, is part of Cadillac’s V-Series lineup. With a 0-60 mph time of just 3.3 seconds, the Lyriq-V promises to deliver enhanced performance and driving dynamics compared to the standard Lyriq model. The Lyriq-V will be sold in the U.S., Canada, and additional markets, starting at $79,995. Production will begin in early 2025 at GM’s Spring Hill Manufacturing plant in Tennessee.
With these moves, Cadillac is making a bold play to lead the luxury electric vehicle market and redefine its brand for the next era of automotive technology.