General Motors is testing the limits of the Cadillac brand with the launch of a new ultraluxury electric vehicle intended to rival the likes of Bentley and Rolls-Royce.
The Cadillac Celestiq was unveiled Monday and will start at $300,000. The vehicle is being touted as one that will charge up to 78 miles of range in only 10 minutes.
GM executives said the vehicle is designed to provide a new two-unit business model that can serve hand-built, luxury requests while also focusing on mass-produced models.
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“It is a brand builder. It’s a halo vehicle. It will lift people’s perception of the brand,” Rory Harvey, global vice president of Cadillac, told CNBC. “The business case has and continues to evolve, but it’s not just purely about the car. It’s about what it does for Cadillac and how it lifts the other Cadillac variants.”
While Harvey did not discuss the Celestiq’s profit margins, he said GM will only produce hundreds of the model per year, with fewer than two being built each workday.
Harvey said the vehicle will be extremely customizable, short of mechanical elements.
“I don’t want to see this as a Mary Kay car, but the reality is, if you want to do an outrageous car, that’s the point,” GM Vice President of Global Design Michael Simcoe said.
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A Cadillac press release stated that the Celestiq is set to begin production in December 2023 but that customers can add their names to a waiting list now.
