By Michael Elkins
General Motors (NYSE:GM) is set to reveal later this summer a prototype of the car, named the Celestiq. The Celestiq electric sedan will be made under GM’s luxury brand, Cadillac, and will be priced at around $300,000, according to the Wall Street Journal citing people familiar with the matter. The company has yet to officially reveal the price of the vehicle.
General Motors has said the sedan will be Cadillac’s premier offering and custom-built at its engineering center near Detroit. The automaker intends to build fewer than 500 Celestiqs annually as a way to showcase its technology and generate buzz for Cadillac, the people said.
Cadillac recently began rolling out its first-ever electric model, the Lyriq, a midsize SUV that GM is building at a plant in Tennessee. The Celestiq is expected to be among several new Cadillac EVs in the coming years.