General Motors (NYSE:GM) stock is on the move today after the automobile company announced a new luxury electric vehicle (EV).
Lets’ go over everything investors need to know about the new EV from GM below.
- General Motors is showing off the Cadillac Celestiq as its next big push into the EV market.
- This car is still limited to the showroom; GM plans to only make about 500 a year.
- The Celestiq also won’t be for everyone; the luxury EV will set customers back a whopping $300,000.
- GM is justifying this price tag by packing the Cadillac EV with all of the latest tech, making it the most up-to-date Cadillac yet.
- Customers will want to keep an eye out for potential differences between the version of Celestiq shown today and the production units coming out in 2023.
- GM doesn’t claim that there will be any major changes, but the current version was custom-made for the show floor.
- The Cadillac Celestiq will be made in the United States; GM has invested $81 million into its Global Technical Center in Michigan for production of the EV.
- The Cadillac Celestiq is the first vehicle to be produced at that facility since it was first established in 1956.
- Car enthusiasts wanting a closer look at the new Cadillac EV can check out a new video the company produced to show off the luxury car.
GM stock is down 2% as of Friday afternoon.
Investors looking for more stock market news are in the right place!
We’ve got all the hottest stock news for Friday. Among that is what’s happening with shares of Micron Technology (NASDAQ:MU), Tesla (NASDAQ:TSLA) and Pagaya Technologies (NASDAQ:PGY) stock today. You can get up to speed on the news at the links below!
More Friday Stock Market News
- Micron (MU) Stock Slips on Morgan Stanley Downgrade
- TSLA Stock News: 5 Biggest Headlines That Tesla Investors Need to Know This Week
- Why Is Pagaya Technologies (PGY) Stock Soaring 94% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
