Cadillac to focus on electric vehicles, says GM

Cadillac is expected to become General Motors' premier electric vehicle brand as the largest car maker in the United States prepares to introduce a new model under the luxury brand to challenge Tesla, two people said on Thursday .

GM is expected to announce Friday as part of an upgrade to the investor that a Cadillac will be the first vehicle based on its future platform "BEV3," the people said. The vehicle platform is the basis for vehicle brackets, including the battery system and other structural and mechanical parts.

GM will not release additional details on Friday, including just when the Cadillac EV will be built, whether it will be a crossover or sedan, or where it will be built, the sources said.

A GM spokesman declined to comment.

GM had already focused on making electric vehicles under the Chevrolet brand, which is a mass market, including the Chevrolet Volt plug and the electric Bolt. GM announced last year that it was closing production of the Volt plug-in as well as a low-cost plug-in, the Cadillac CT6, even as it moved to increase EV spending.

GM said in November, as part of its restructuring efforts, that it was doubling funds for electric and stand-alone vehicle programs in the next two years.

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

GM announced at 2017 that it plans to introduce 2021 to introduce a new flexible electric vehicle architecture and advanced battery system to support the development of at least 20 new models in the US and China.

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

Source: Reuters