Cadillac believes that his company can compete with Silicon Valley giants like Apple and Google in developing future automobile technology, Jonathan de Nysschen, the company's president, said.

Although Cadillac has the ability to create its own technology, de Nysschen said he will not rule out any possibilities of partnersips from any of these firms.

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"I think that in the future there may indeed a market for autonomous driving enabled vehicles that provide transportation from A to B but that's not the market Cadillac is in," he told CNBC.

While noting that Cadillac is a luxury brand, De Nysschen said the firm wants to offer all of its benefits but in a rather emotionally engaging manner.

Currently, tech giants such as Google has been working on driverless car technology, while Apple is rumored to be contemplating a foray into the auto space arena.

Dy Nysschen insisted that although his comments appear to be bold, Cadillac has competitive knowledge on connectivity and autonomous driving and technologies just like other tech giants in Silicon Valley. He also added that Cadillac also knows a lot in integrating the said technologies into automobiles and as well as developing and manufacturing automobiles.

The Cadillac top man further revealed that his company is working on a new shared ownership model. De Nysschen said that service companies like Uber and Lyft are "brand agnostic" and about functionality, unlike his company.

He was, however, quick to note that his comments do not mean that Cadillac cannot cultivate a product and a way of owning a Cadillac "that allows people who want to move from A to B in the luxury of a Cadillac" equipped with all the safety and connectivity benefits.

The product is likely to be a shared ownership model, in which consumers can get access into Cadillac ownership and obtain guaranteed availability of a variety of Cadillac models, he said.

Last year, General Motors, the owner of the Cadillac brand, announced its very shared ownership scheme program called Maven, which permits consumers to part-own new Micra.

The new ownership scheme is part of the car makers' initiative to adapt current strategies similiar to that of Uber and Lyft. Most automakers admit that in the future, many people would not want to own cars, instead they would opt to share them.

TagsCadillac, Google, apple