General Cadillac (NYSE:GM) is planning to put a $300,000 price tag on its upcoming Celestiq electric sedan.
What Happened: According to a Wall Street Journal report sourced from unnamed “people familiar with the matter,” GM is slated to preview a prototype of the Celestiq later this summer. Production is scheduled to start in late 2023.
GM is reportedly planning to produce less than 500 Celestiqs, with the vehicle being positioned to highlight the company’s embrace of electric vehicles. The company has stated it would eliminate nearly all of its gas- and diesel-powered vehicles by 2035, with an electric Cadillac as the first model to be made available on a wider scale.
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What Else Happened: While a $300,000 price for a limited-edition automobile might seem a bit too luxurious for many Americans in the current inflation-thick economy, GM is promoting the new offering as a vehicle that "sets new standards for exceptional craftsmanship and technology."
Indeed, the early promotional push for the Celestiq is emphasizing its visual appeal, with the company highlighting the "meticulous detailing overlayed on a clean cutting-edge design" of the vehicle, as opposed to the energy efficiency that it might offer.
"The Celestiq exterior and interior were designed together to reflect a holistic vision of what American luxury can be,” said Tristan Murphy, Cadillac interior design manager, in a company statement. “With Celestiq, we've created an even higher level of craft, allowing us to add that beautiful sense of movement through the cabin.”
Photo courtesy of General Motors
