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Cadillac is expected to become General Motors Co's (GM.N) lead electric vehicle brand as the largest U.S. automaker gears up to introduce a new model under that luxury marquee to challenge Tesla Inc (TSLA.O), two people briefed on the matter said Thursday.

GM is set to announce Friday as part of an investor update that a Cadillac will be the first vehicle based on its forthcoming "BEV3" platform, the people said. The vehicle platform is the basis for vehicle underpinnings, including the battery system and other structural and mechanical parts.

GM is not expected to disclose on Friday additional details, including precisely when the Cadillac EV will be built, whether it will be a crossover or sedan, or where it...​