Cadillac introduces the 2014 ELR at the 2013 North American International Auto Show in Detroit on January 15, 2013. UPI/Brian Kersey
Tesla has proved some people are willing to pay more than $100,000 for an electric car.
Granted it's not an ordinary vehicle, but the success of the Model S sedan has shown there is a market for a luxury electric.
General Motors has sold more 48,000 Chevrolet Volts since the plug-in gas-electric was introduced in December 2010 and is taking the concept upscale. Last week, GM priced the Cadillac ELR gas-electric coupe at $75,995, making the hybrid the most expensive car offered by GM in the United States when it goes on sale in January.
The ELR is heavier than its sibling Volt because of the premium materials like real wood and chrome trim used, but the car has the same battery and same 1.4-liter gasoline engine as the Volt and a larger electric motor.
"The ELR is a unique blend of dramatic design with electric vehicle technology capable of total range in excess of 300 miles," said Bob Ferguson, Cadillac senior vice president in statement.
The ELR will be able to travel 35 miles on a single battery charge before the gasoline engine kicks on to run a generator that powers the car and recharges the battery, compared to 38 miles on a full charge for the Volt, which sells for $34,995 after a $5,000 price cut earlier this year.
The Environmental Protection Agency estimates the combined electric/gasoline hybrid with a continuously variable transmission gets the equivalent of 62 miles per gallon.
The ELR also includes standard safety features like lane departure warning and forward collision alert, Cadillac's CUE infotainment system, LED headlights and taillights and a back-up warning alert that vibrates the driver's seat when something is directly behind the car.
With a federal tax credit of as much as $7,500, an ELR can be had for around $68,496, including a $995 destination charge, about twice the price of a Volt.
General Motors has sold more 48,000 Chevrolet Volts since the plug-in gas-electric was introduced in December 2010 and is taking the concept upscale. Last week, GM priced the Cadillac ELR gas-electric coupe at $75,995, making the hybrid the most expensive car offered by GM in the United States when it goes on sale in January.
The ELR is heavier than its sibling Volt because of the premium materials like real wood and chrome trim used, but the car has the same battery and same 1.4-liter gasoline engine as the Volt and a larger electric motor.
"The ELR is a unique blend of dramatic design with electric vehicle technology capable of total range in excess of 300 miles," said Bob Ferguson, Cadillac senior vice president in statement.
The ELR will be able to travel 35 miles on a single battery charge before the gasoline engine kicks on to run a generator that powers the car and recharges the battery, compared to 38 miles on a full charge for the Volt, which sells for $34,995 after a $5,000 price cut earlier this year.
The Environmental Protection Agency estimates the combined electric/gasoline hybrid with a continuously variable transmission gets the equivalent of 62 miles per gallon.
The ELR also includes standard safety features like lane departure warning and forward collision alert, Cadillac's CUE infotainment system, LED headlights and taillights and a back-up warning alert that vibrates the driver's seat when something is directly behind the car.
With a federal tax credit of as much as $7,500, an ELR can be had for around $68,496, including a $995 destination charge, about twice the price of a Volt.
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