• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 9 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 11 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"

GM To Push Cadillac As Tesla Rival

General Motors will make Cadillac its first electric car under the BEV3 platform, according to unnamed sources talking to Reuters. The electric Cadillac will become the flagship GM challenger to Tesla, the sources said.

An announcement, according to the sources, is expected later today, but details such as a timeline and specifications are unlikely to be divulged. GM has previously tried to make plug-in hybrids under the Cadillac brands but these sold badly and were discontinued after only a couple of years in production.

GM’s current EV portfolio includes the Chevrolet Volt, a plug-in hybrid, and the Bolt, an all-electric vehicle. But the mass market Chevrolet brand cannot take on Tesla, which has cornered the luxury EV market. Cadillac, on the other hand, could be a worthy opponent.

The biggest carmaker in the United States two years ago announced EV manufacturing plans that included building a dedicated electric vehicle architecture and launching it by 2021 along with a battery system, with the two to be used to develop at 20 new electric models in both the U.S. and China, the world’s largest EV market.

Also in 2017, chief executive Marry Barra said General Motors planned to launch at least 10 new EVs for the Chinese market specifically by 2020. Last year, Barra said the company eyed electric car sales of 1 million per year by 2026, with a substantial part of the total sold in China.

Last year, General Motors opened a battery factory in China in partnership with local carmaker SAIC Motor Corp. as part of its expansion plans for the Chinese market.

Last year, the then-president of Cadillac told Reuters Cadillac will have a “central role” in GM’s EV strategy for the future, not just on the domestic market but also in China. Cadillac sales in China are on the rise, with the figure last year exceeding 200,000 for the first time, Reuters notes.

By Irina Slav for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Dan on January 12 2019 said:
    Who can compete with Tesla when they go out and buy a 1950's rocket movie prop and say it will take you to the moon? You would have to come out with a "Back to the Future" car that can hover to beat that. Right? Are we smoking something?

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News