GM’s Cadillac plans to price future electric sedan at about $300,000: Wall Street Journal

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General Motors’ Cadillac is planning to price a future electric sedan at about $300,000, the Wall Street Journal reported Friday, citing people familiar with the matter. The car, named the Celestiq, is expected to be revealed this summer in prototype form as Cadillac’s premier offering. The pricing has not yet been disclosed. GM is planning to build fewer than 500 of the vehicle annually as a way to showcase its technology and generate buzz for the Cadillac brand, the people told the paper. The car is scheduled to go into production in late 2023. GM shares were up 1.1% premarket, but have fallen 44% in the year to date, while the S&PO 500 SPX, +3.06% has fallen 20%.

This article was originally published by Marketwatch.com. Read the original article here.

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