Reports said that the ELR’s tag price would be lower than Tesla Motor’s Model S’s $57,400. GM’s 2012 Volt has a $39,995 price tag, which includes shipping. The model would run 25 miles or more between recharges, but would also have a backup gas motor for longer travels.
It will feature a T-shaped lithium ion battery, electric motors and four-cylinder engine generator. Ed Welburn, GM design chief, said the plug-in Cadillac will have the name ELR, which indicates the vehicle’s electric propulsion technology and to keep with the brand’s three-letter international model naming convention.
GM did not provide more details on the price and roll out date of the ELR, but said it would be manufactured in the same Detroit facility where the automaker will produce 16,000 Volts this year and another 60,000 next year.