Luxury automaker makes staggering leap as electric models gain traction: 'We see the opportunity to increase the conquest rate for Tesla'

Cadillac may be known for its luxury vehicles, but the automaker has expanded its electric vehicle lineup — an attractive selling point for new buyers and current EV owners looking to invest in a different brand.

What's happening?

CNBC reported that about eight out of every 10 customers buying a Cadillac EV are new to the brand, per data from General Motors. What's more, 10% of the new buyers are trading in a Tesla.

"We see the opportunity to increase the conquest rate for Tesla, absolutely," Cadillac Director of Global Marketing Brad Franz told CNBC.

Cadillac currently has five vehicles in its EV lineup and aims to be the bestselling luxury EV brand in 2025, per CNBC. While Cadillac's EV customer base is on the rise, Tesla has struggled in recent months.

Tesla's net income fell 71% year-over-year. Many have protested the EV company over CEO Elon Musk's involvement in American politics. Musk formally announced the end of his time with the Department of Government Efficiency on Friday to focus on Tesla.

Why is the growth in Cadillac EV sales important?

EVs are planet-friendly upgrades that help drivers save money on gas and maintenance. The transportation sector accounts for more than 15% of global energy-related pollution, according to the International Energy Agency. However, EVs emit zero tailpipe emissions, which can help reduce air pollution.

Watch now: How bad is a gas stove for your home's indoor air quality?

Analysts estimated that at least one in four cars sold around the world in 2025 will be an EV. In fact, more than 20 million EVs are expected to be sold this year.

GM accounted for almost 15% of new EV sales in the United States in April 2025, per Electrek. The success of GM brands like Chevy and Cadillac has been a huge factor in the uptick in sales. Cox Automotive reported that both brands experienced a month-over-month volume increase of 50% or more in March 2025.

What's being done in response to increasing EV sales?

The increase in EV sales has prompted companies and officials to invest accordingly. GM said it's using artificial intelligence to determine ideal locations for EV charging stations.

California announced a multimillion-dollar project to add EV charging stations to gas stations, convenience stores, and hotels. However, the U.S. House of Representatives recently voted to block the state's plan to prohibit new gas-powered cars by 2035.

TCD Picks » Upway Spotlight

💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands

Other places around the world are moving forward with full or partial bans on gas-powered cars, such as the United Kingdom and Ethiopia. Many countries have plans to reach 100% zero-emission vehicle targets by 2050, per Earth.org.

If you were going to purchase an EV, which of these factors would be most important to you?

Cost 💰