GM’s Cadillac will introduce EV in fight against Tesla

GM’s Cadillac will introduce EV in fight against Tesla

General Motors was rallying Friday, up as much as 9%, after the company gave strong 2019 guidance and said it would use its Cadillac brand to take on Tesla. The vehicle platform is the basis for vehicle underpinnings, including the battery system and other structural and mechanical parts. 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. 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.

Cadillac is the flawless 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.

Last month, two OH senators asked GM to commit to building all future electric vehicles for USA buyers within the country.

GM said in 2017 that a new electric vehicle platform in 2021 will serve as a base for at least nine derivatives, ranging from a compact crossover to a large seven-passenger luxury sports utility vehicle and a large commercial van.

Ford Europe to slash thousands of jobs in turnaround plan
The American automaker expects to reduce the number of vehicles in its line-up to focus on more profitable areas of the market. Audi, VW's biggest profit center, likewise noted more struggles ahead, reporting a 3.5 percent drop in sales previous year .

Cadillac will become the face of GM's push into the electric-vehicle market, although it's unclear when exactly it will appear on the market. "We are confident Cadillac will be a leader in luxury EVs and our design and technology will excite customers".

This week, GM said Cadillac sales in China rose 17.2 percent in 2018, surpassing 200,000 units for the first time.

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. An electric vehicle would hopefully bump those numbers up even further.

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