General Motors’ luxury Cadillac brand is taking advantage from strong growth in China, the American automaker stated at a conference on Wednesday in New York.
GM Cadillac President Steve Carlisle stated that Cadillac would broaden its network of dealers to 500 in China by 2025.
The U.S. automaker will introduce a new product every 6 months for the next 3 years in China, Carlisle stated at a Bank of America Merrill Lynch conference.
Cadillac is anticipated to become the company’s lead electric vehicle brand to compete Tesla Inc.
Sales of the Cadillac brand in China boosted 17.2 percent in last year, and GM’s CEO Mary Barra has stated that the company intends to sell 1 million electric vehicles annually by 2026, many of them in China, which has set strict production quotas on such vehicles.