DETROIT – General engines unveiled a new $80,000 performance version of its all-electric Cadillac Lyriq on Thursday, as the Detroit automaker aims to become the best-selling luxury electric vehicle brand this year in the United States.
Cadillac hopes to achieve this goal with an expanded lineup of electric vehicles such as the performance Lyriq-V, the Escalade IQ SUV and the upcoming Optiq entry-level crossover.
“We will position Cadillac to become the best-selling luxury electric vehicle brand in the United States in 2025. Again, let me say that again: the best-selling luxury electric vehicle (brand) in 2025,” Cadillac Vice President John Roth said during a press briefing. “There are no limits to what we can do in luxury electric vehicles.”
But the “luxury” space may not be as clear-cut as it seems. Cadillac, following Roth’s comments, said it did not include Tesla as a “luxury” manufacturer, even though many products are priced in the same range as some Cadillac offerings. A spokeswoman for the brand said Cadillac includes names like Audi, Mercedes-Benz and others among its main competitors.
2026 Cadillac Lyriq-V
Cadillac
“There are a handful of models in the Tesla lineup that are probably considered luxury, but they still make them.” interesting elements with the brand,” Roth said.
Excluding Tesla, which largely dominates the U.S. electric vehicle market, Cox Automotive reports that Cadillac’s nearly 30,000 electric vehicles were sold last year, trailing only BMW’s approximately 51,000 units. Audi and Mercedes-Benz were also close to Cadillac. That compares to Tesla’s estimated U.S. electric vehicle sales of more than 633,000 electric vehicles last year, according to Cox.
Historically, the automobile industry has been made up of “mainstream” brands like Chevrolet and luxury brands like Cadillac. But many brands, including Cadillac and Tesla, now offer vehicles in a wide price range.
Tesla’s pricing ranges from around $42,500 for the Model 3 sedan to around $100,000 for vehicles such as the Cybertruck and Model S Plaid. This compares to Cadillac’s electric vehicles which, once available, are expected to cost between $54,000 for the Optiq and more than $150,000 for the Escalade IQ. Cadillac also offers a custom car for more than $300,000 called the Celestiq.
For context, Kelley Blue Book reports that the average transaction price for a new electric vehicle through the end of last year was $55,544. That doesn’t include consumer incentives for electric vehicles, like the federal tax credit of up to $7,500.
Cadillac is expected to sell five electric vehicles by the end of this year, up from three currently. That would match Tesla in terms of the brand’s number of electric vehicles, but Tesla is estimated to have reached nearly 50% electric vehicle market share last year in the United States.
Regarding the Lyriq-V, Cadillac said the vehicle will have an estimated 615 horsepower, 650 foot-pounds of torque and a range of 285 miles when fully charged. It should hit 0-60 mph in as little as 3.3 seconds.
The Lyriq is Cadillac’s first production electric vehicle to be included in its V-Series performance vehicle lineup. The Lyrq-V is largely similar to the standard model, but includes unique badging and performance-enhanced parts and other accessories to improve driving dynamics.
GM said the Lyriq-V, starting at $79,995, would be sold in the United States, Canada and other countries, and production would begin in early 2025 at GM’s Spring Hill Manufacturing plant. , in Tennessee.
