Cadillac is planning to price its new Celestiq electric vehicle at around $300,000. It is expected to go into production late next year.
There will reportedly be less than 500 of the vehicles made per year, to lend an air of exclusivity to the line. General Motors reportedly wants the Cadillac brand to lead its charge into the EV market. By the middle of the decade, planning is for the automaker to offer several dozen models of EVs throughout all its four brands.
The $300,000 price tag is expected to put the Cadillac EV into the realm of Rolls Royce, Ferrari, or Bentley brands luxury cars. Given the median price for a home in the US is now $447,000, it is expected most buyers will be priced out of this vehicle, and its primary purpose will be branding and development.
The Celestiq will reportedly have a number of luxury features, from customized wood trim in the cabin, to the latest version of GM’s hands-free assisted driving system.
What it will not have, is the luxury EV market all to itself. Reportedly, Mercedes-Benz, Volvo, and Rolls-Royce, and other high-end brands are all presently developing luxury EVs which they expect to have on the market by 2030.
