General Motors will finally have a model that could compete the hugely successful Tesla Model S as it prepares for the Cadillac brand a model that should rival the Californian company.
The American company announced its 2014 Cadillac ELR plug-in coupe (a luxury version of the Chevrolet Volt) would have a starting price of almost $76,000 including delivery fees – setting it firmly in Model S price territory, while federal tax credits could reduce the cost of the ELR to consumers by up to $7,500.
GM said the two-door ELR will be available nationally, unlike the Chevrolet Volt, which was rolled out first in select markets. Just like the Volt, the ELR has an electric driving range of about 35 miles on the highway and a gasoline engine for extended range that gives it a total driving range of more than 300 miles.
Given the price cuts GM and other automakers have put in place for their electric cars in recent months, analysts are unsure whether the U.S. automaker has realistic expectations for the new Cadillac. GM cut the Volt’s price by $5,000 to $35,000 in August.
The ELR is likely only the first step for GM in offering more luxurious electric cars. Doug Parks, the deputy for global product development, said last month that GM would look at doing other EVs in the $100,000-plus-price range.
Production of the ELR is set to begin later this year at the company’s Detroit-Hamtramck assembly plant, where the Volt is built. The ELR’s introduction is part of an expected product blitz by GM’s luxury brand, as the Detroit Company may double its Cadillac offerings over the next four years.
) - Monday, October 14th, 2013 - filed under Cadillac
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Discuss: Cadillac aims to fight Tesla with ELR plug-in, set for January debut