Monday, 17 June, 2019

GM wants to turn Cadillac into its premium electric-vehicle brand

Logo of General Motors GM To Push Cadillac As Tesla Rival | OilPrice.com
Jean Garcia | 12 January, 2019, 19:12

Cadillac will become the leading electric vehicle brand at General Motors in an attempt to lure sales away from Tesla while also countering the onslaught of EVs in the pipeline at the German luxury brands.

Cadillac will be the first GM brand to launch an EV based on the platform, which has been created to be able to spawn everything from compact cars to large, 7-seat luxury SUVs. This will include whether the new electric Cadillac will be a sedan or a crossover, and where it will be built, says the report citing inside sources.

A GM spokesman declined to comment.

Cadillac is the ideal brand for GM to relegate to electric vehicles, as the cost of electric components can be offset by the already-high prices customers pay for the cars' luxury.

Ford to slash jobs in Europe, may close plants
The company's move follows plans announced previous year to reduce white-collar jobs across the company's global business. Armstrong also said the company would focus on its most appealing models and exit its less profitable models.

The announcement was made by GM on Friday during an investor call conference, where the automaker also confirmed plans for a new modular electric auto platform. According to Michael Albano, a GM spokesperson, the biggest automaker in the USA restructured its entire product development organization in order to shift its focus to electric vehicles.

GM said in 2017 it planned by 2021 to introduce a new dedicated flexible electric vehicle architecture and an advanced battery system to support the development of at least 20 new models in the United States and China. These will range from a compact SUV, to a large seven-seat luxury crossover and a large commercial van. He left GM in April.

"I think we compete today with the Chevrolet Bolt EV", GM CEO Mary Barra said during an interview with FOX Business' Gerri Willis. GM opened a battery plant with Chinese partner SAIC Motor Corp Ltd 600104.SS past year.

This week, GM said Cadillac sales in China rose 17.2 percent in 2018, surpassing 200,000 units for the first time. An electric vehicle would hopefully bump those numbers up even further.

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