GM has finally confirmed the price of its upcoming luxury EV, the Celestiq. As expected, it is expensive, starting at over $300,000.
Cadillac has always been associated with luxury, but the brand is taking it a notch higher with the Celestiq EV. The electric car will start from over $300,000. For that amount of money, GM will hand-build the Celestiq for you and allow you to customize it to a high degree.
With this pricing, Cadillac is competing with traditionally expensive brands like Bentley and Rolls-Royce.
However, company executives justify the high cost at the car’s official launch. The Celestiq is a halo car meant to raise the prestige of the Cadillac brand. Rory Harvey, global VP of Cadillac, told CNBC, “It is a brand builder. It’s a halo vehicle. It will lift people’s perception of the brand. 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.”
GM can only make two Celestiqs per day, so orders are limited, and a significant deposit is required. However, the car will be sold globally. Pre-orders will open later this year, and manufacturing will commence almost a year later in late 2023.
The Celestiq is based on GM’s Ultium electric platform. It will offer 600 hp, complete 0-60 mph in 3.8 seconds, and last more than 300 miles on a single charge.
In comparison, the Lightyear EV costs $263,000 but offers charging will embedded solar panels.