Thursday, October 23, 2014 Headlines & Global News

Cadillac Enters Electric Vehicle Business With Its New ELR Starting at $75,995

By Sam Lehman | Oct 12, 2013 10:45 AM EDT

Cadillac Enters Electric Vehicle Business With Its New ELR For Starting $75,995
Cadillac Enters Electric Vehicle Business With Its New ELR For Starting $75,995 (Photo : Reuters)

Cadillac has unveiled its first electric luxury coupe for a base price of $75,995, which is higher than the Tesla Model S but uses similar technology as in the Chevrolet Volt.

Cadillac has unveiled its first electric two-door luxury coupe with its signature design and decent technical specs. The new electrically powered car is placed at a price higher than the Tesla Model S but features technical specs that match the likes of Chevrolet Volt. What could be so different that the company decided to go head to head with Tesla, which touts much better specifications?

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"The ELR is a unique blend of dramatic design with electric vehicle technology capable of total range in excess of 300 miles," Bob Ferguson, senior vice president Global Cadillac, said in a press release"ELR is also unique in that it will be offered nationwide within a luxury customer experience, with proven benefits and care extending from the shopping process all the way through the ownership experience."

Before getting down to the specs of the Cadillac ELR, let's discuss the reason behind the pricey model. We understand the electric car business may be getting a huge boost in the automobile industry with more and more buyers turning from gasoline to EVs. But the ELR cannot compare  with the Tesla Model S features, but the company's excellent service and its success at "pricing its products with a 100% premium compared to its non-luxury brands, justify the high price tag" says Eric Ibarra, director of residual value consulting at KBB.

While we compare under-the-hood details with a Chevy Volt, the ELR outperforms in terms of luxury as seen in its other models like Cadillac CTS, ATS, and XTS sedans. The ELR features full wood and leather upholstery along with a suite of high tech features including Cadillac CUE with an 8-inch, full color capacitive touch-screen for navigation and its traditional LED front and rear lighting. It also includes Lane Departure Warning, Forward Collision Alert and 24-hour concierge service for queries.

While the luxury details sound appealing, the Cadillac ELR may not have fully impressed with its technical specifications. Like the Volt, the new EV sports 16.5 kWh lithium-ion battery and 1.4-liter gasoline-powered range-extending engine. This helps the Cadillac run up to 35 miles before the gasoline engine kicks in to charge the battery to cover up to 300 miles. Basically you would be seeing a Volt in a classy suiting of its traditional sharp and shiny design. Tesla Model S, on the other hand, touts a 208-mile range from its 60 kWh battery.

The Cadillac ELR starts at  $75,995, including delivery fees, but excludes $7,500 federal tax credit, which depends on IRS certification. On the other hand, the price is twice as much as a Chevy Volt and slightly higher than the Tesla Model S that starts at $69,900.

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