The Celestiq, as the new Caddy is officially known, has only been teased with a few features. Four people, two in the front and two in the rear, will be able to control the degree of transparency in the windows on the glass roof.
GM President, Mark Reuss noted in a business press release earlier this week that the Celestiq “signals a new, resurgent era for the brand” as Cadillac’s future premier sedan. Today’s investment announcement demonstrates our commitment to providing a world-class Cadillac with nothing but the finest in craftsmanship, design, engineering, and technology,” the company said in a statement.
There is a lot of technology in the GM Warren, Michigan, technology center. National Historic Landmark in 2015, the campus was designed by modernist architect Eero Saarinen and completed in the 1950s.
A sparkling dome and an abundance of glass give it the appearance of a miniature replica of Disney World’s Tomorrowland. People can be reminded of Pixar’s The Incredibles or AMC’s Mad Men when they see the inside of this building.
It was said that the location was a place where the present and the future met. It’s still relevant now. The global auto industry has set aside $250 billion to make the switch from gasoline-powered vehicles to electric ones over the next decade.
However, the IT center isn’t all bling and glamour. Researchers and engineers are also present, as well as PhD-level scientists who are working on cutting-edge battery technology.
No matter how good the Celestiq is, it won’t be enough to save General Motors, or GM rival Tesla TSLA–8.54% (TSLA). There is very little demand for $200,000-plus autos. Tesla is widely regarded as one of the world’s foremost manufacturers of high-end luxury automobiles. Tesla’s high-end Model X and Model S cars accounted for barely 25,000 of the company’s total 2021 sales of 936,172 units. A single one of these cars may cost upwards of $100,000.
Preparing new technologies for future models and improving GM’s electric vehicle technology are the primary goals for Celestiq.
As a result of the Celestiq, General Motors will soon offer electric vehicles that can be purchased at every price point. Chevy’s Bolt and Blazer SUVs, the Chevy Silverado and GMC Sierra pickup trucks, the Cadillac Lyriq, and the GMC Hummer will all be on the market in 2022.
Prices for these cars, which include the Celestiq, are expected to vary from below $30,000 to over $200,000.
Investors’ attention is diverted from the EV market share contest being waged by the car industry.
In 2022, GM stock has plummeted by over half, losing around 46 percent of its value. More than a quarter of the S&P 500SPX –3.25% and a fifth of the DJIA –2.42% have fallen.
Because vehicles are huge expenditures and inflation affects the sector on both sides, automotive stocks have taken a worse blow than others. Profit margins are threatened by an increase in the cost of goods and services. As borrowing rates rise to combat inflation, demand for automobiles is jeopardized because they become less affordable. A majority of automobile purchases are made via finance.
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