Published: Sat, January 12, 2019
Finance | By Loren Pratt

GM's Cadillac will introduce EV in fight against Tesla

GM's Cadillac will introduce EV in fight against Tesla

General Motors was rallying Friday, up as much as 9%, after the company gave strong 2019 guidance and said it would use its Cadillac brand to take on Tesla.

We've known about this new EV-specific BEV3 architecture since 2017, when we learned that the first auto to use it will arrive in the market by 2021, serving as a base for at least nine other models. The vehicle platform is the basis for vehicle underpinnings, including the battery system and other structural and mechanical parts.

GM will eventually introduce the company's battery electric vehicle architecture, which it believes will build a foundation for a profitable EV. GM has already announced the end of production for the Volt, as well as the plug-in hybrid Cadillac CT6.

GM said in November as part of its restructuring efforts it was doubling resources for electric and autonomous vehicle programs over the next two years. According to Michael Albano, a GM spokesperson, the biggest automaker in the USA restructured its entire product development organization in order to shift its focus to electric vehicles.

Also in 2017, chief executive Marry Barra said General Motors planned to launch at least 10 new EVs for the Chinese market specifically by 2020. These will range from a compact SUV, to a large seven-seat luxury crossover and a large commercial van. The extra injection into Cadillac should make the brand a leader for electric technology.

Cadillac has also been doing very well in China, with sales rising 17.2 per cent in 2018.

"I think we compete today with the Chevrolet Bolt EV", GM CEO Mary Barra said during an interview with FOX Business' Gerri Willis.

In October, GM urged the Trump administration to back a nationwide program to boost sales of zero emission vehicles like electric cars, even as the government has proposed ending California's ability to require more clean vehicles.

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