GM is getting into the luxury electric car market, North America President Mark Reuss announced today. Starting in late 2013, the Cadillac ELR will roll out in Detroit.GM has not announced how much the ELR will cost, but the vehicle will likely compete with luxury electric cars made by Tesla Motors and Fisker.
Considering the recent troubles faced by those two small automakers, and the recent success of Cadillac in the luxury market, this could be a coup for GM.
The ELR is the production version of the Converj, the concept vehicle debuted at the North American International Auto Show in 2009.
It will use the extended-range powertrain GM has in its Chevrolet Volt, and be powered by a T-shaped lithium-ion battery and an electric drive unit. A four-cylinder engine will provide extra power and recharge the battery.
GM is investing $35 million to upgrade its plant at Detroit-Hamtramck, where the ELR will be built. It does not expect to add jobs at the plant, the Detroit Free Press reported.
Business Insider Emails & Alerts
Site highlights each day to your inbox.