The Cadillac version of the Chevrolet Volt will cost more than twice as much as the car on which it’s based.
General Motors said the Cadillac ELR electric coupe will start at $75,995, putting it in direct competition with the least-expensive version of the Tesla Model S. The ELR, schedule to go on sale in January, will be the most expensive car GM offers in the U.S.
With a federal tax credit of up to $7,500, the real price could be about $68,495, including a destination charge of $995.
“The ELR is a unique blend of dramatic design with electric vehicle technology capable of total range in excess of 300 miles,” Bob Ferguson, Cadillac senior vice president, said in a statement.
Unlike the Model S, which is all-electric, the ELR, which workers at GM’s Detroit-Hamtramck plant will assemble, can travel 35 miles on a battery charge before a 1.4-liter gasoline engine kicks in and powers the car. The Volt can travel 38 miles on electricity before using gas.
Although the two GM cars share a powertrain, the ELR is heavier, reflecting the weight of premium materials such as wood grain and chrome trim, and safety features such as lane departure warning and forward collision alert.
GM executives have said they expect the vehicle to be a “halo” vehicle for Cadillac — a model designed to lure buyers to the showroom whether they buy it or another model.
The vehicle’s release comes as GM executives are studying consumer reaction to the Tesla Model S, which ranges from $60,000 to $110,000.
GM recently said it is pursuing a $30,000 pure-electric car with a 200-mile range to compete with a future offering from Tesla.
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