Plug-In Electric Cadillac Coming in 2013

It will be produced at the same plant as the Chevy Volt

By Christopher Freeburn, InvestorPlace Writer

Yet another electric-hybrid auto will soon be hitting America’s roads. General Motors (NYSE:GM) says it will start producing its Cadillac ELR, a plug-in hybrid-electric luxury car, next year.

Based on a concept debuted three years ago, the Cadillac ELR is expected to be in showrooms not long after production commences, Reuters noted.

Time to Bet Against General Motors
Time to Bet Against General Motors

GM didn’t disclose pricing for the new Cadillac, or mention how far it could drive on a charged battery. A gasoline-driven generator will take over once the battery is drained to extend driving range.

The new hybrid-electric car will be built at GM’s Detroit-Hamtramck facility, the same plant that produces its Chevy Volt. The latest Volt can drive 38 miles on a full battery.

GM temporarily halted production of the Volt last month. Critics say it was meant to clear out inventories of the poorly selling vehicle, which is priced around $40,000.

Shares of GM rose about 1% in Wednesday afternoon trading.

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