GM ramps up all-electric Cadillac in possible challenge to Tesla

General Motors on Friday unveiled some of its plans for a new, all-electric Cadillac that it expects will eventually be able to compete head-to-head with Tesla.

“I think we compete today with the Chevrolet Bolt EV,” GM CEO Mary Barra said during an interview with FOX Business’ Gerri Willis. “We have an EV out on the road today that is affordable, that is attainable, that has outstanding range. But I think this really takes it to another level and is really competing in that luxury category.”

Cadillac will become the face of GM’s push into the electric-vehicle market, although it’s unclear when exactly it will appear on the market. GM is currently lagging behind some of its luxury-brand competitors when it comes to EVs, while its sales for the Chevy Bolt EV are slumping in the U.S.

GM will eventually introduce the company’s battery electric vehicle architecture, which it believes will build a foundation for a profitable EV. According to Michael Albano, a GM spokesperson, the biggest automaker in the U.S. restructured its entire product development organization in order to shift its focus to electric vehicles.

"We appreciate what Tesla has done to raise consumer interest in EVs," he said. "We are confident Cadillac will be a leader in luxury EVs and our design and technology will excite customers."