General Motors has confirmed production of the Voltec-powered Cadillac ELR coupe. Though the automaker didn't officially announce pricing for the on-again, off-again angular coupe, Bloomberg claims an unidentified source close to the project revealed the Cadillac ELR's price will undercut the $57,400 Tesla Model S.
How much less? Well, Green Car Reports is expecting the ELR's MSRP to be in the ballpark of $49,900, with options adding up to $8,000 to that base price. But our guess is that the plug-in ELR will be priced in the mid-$50,000 range. Eric Noble, president of The Car Lab, an automotive consulting firm, told Bloomberg:
This is premium technology, Cadillac is a premium brand, and buyers of Cadillacs will expect to pay premium prices. That resolves one of the problems that General Motors has had with Volt, which is that it's a $40,000 small Chevrolet sedan.