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GM’s Cadillac debuts luxury Celestiq electric vehicle

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Yahoo Finance’s Pras Subramanian joins the Live show to break down GM’s luxury electric vehicle: Celestiq.

Video Transcript

BRIAN SOZZI: Revving up its EV push, General Motors is unveiling its new Cadillac Celestiq-- I think I said that right-- which will reportedly cost nearly $300,000, according to the Wall Street Journal. Yahoo Finance's senior auto correspondent Pras Subramanian joins us. So Pras, you just had yours delivered. What do you think about it?

PRAS SUBRAMANIAN: [LAUGHS] Well, you know, Sozz, Cadillac is a long-time 100-year-old brand, right? And so it used to be the standard of the world that they called it. And they claim that this Celestiq will bring them back to that standard of the world. And like you said, rumored $300,000 car, but you have a lot of special things going on here. You look at the car here. It's very low slung, aggressive coupe sedan design, almost as like as a hatch in the back. But inside, I think is where it really kind of shines, kind of, like, one-off materials. It's going to be hand-built.

BRIAN SOZZI: That's nice.

PRAS SUBRAMANIAN: It's going to be hand-built in GM's Technology Center, using 3D-printed parts and things like that. So, you know, it's going to have, like, five HD screens, like you see there, a roof that can actually light up in different areas. So a lot of, like, trick tech stuff. It's going to be-- look, it's an EV, right? So the brand's going electric. They want to showcase what they can do. And they're going to go there with this Halo type car. $400,000 is a lot of money. So they're only probably going to sell a few hundred of these, is what I'm hearing. And that's just going to be this way to show the world that Cadillac is going to be this high end, upper tier EV brand.

BRAD SMITH: I'm saying "cou-pe" from here on out because that sounds way better than coupe.

PRAS SUBRAMANIAN: Did I say "cou-pe"?

BRAD SMITH: You know, it's way better, way better. [INAUDIBLE] knows, yes. What would the competition be like for this car?

PRAS SUBRAMANIAN: So, back in those days, 100 years ago, was Cadillac and Rolls Royce were the two biggest, most advanced and highest priced car makers back then. And I think that's their target. Rolls is coming out with the Specter in a few months. That's Rolls's EV-- first EV that-- their brand. They're going to go all EV, too.

Bentley also is going to go all EV, and they have a really sharp-looking coupe that-- cou-pe-- the coupe is going to come out, too. So I think that's where you're going to see that this Celestiq kind of compete. But of course, Cadillac has, like you said, Sozz, the Lyriq and other cars that are more mainstream and more for normal premium luxury buyers.

JULIE HYMAN: How much does this thing costing? And, like, what other-- did we say that already? How much is it going to cost?

PRAS SUBRAMANIAN: The Journal has a report saying that it costs-- it'll cost $300,000. I reached out to Cadillac, and they said they have no comment at this time on that pricing. But they didn't deny it.

JULIE HYMAN: Like, what do you get for that? Like, what-- besides--

BRIAN SOZZI: There's what, five screens?

JULIE HYMAN: Besides all this stuff that we're talking-- like, what kind of features? Like, what-- I mean, 3-- who-- that's a lot of money.

PRAS SUBRAMANIAN: This is a coach-built, hand-built car is what they're saying, right? With special parts and materials that are one-off things. I would guess, I would surmise it's going to be an all wheel drive, dual motor car, maybe over 600, 700 horsepower. I'm hoping, Sozz, and Brad, too, they have the battery size of a Lucid, which can go 500 miles or [INAUDIBLE]. So that's what we're talking about.

JULIE HYMAN: But if you can spend $300,000 on a car, wouldn't you just buy a Lucid or, like, something-- in other words, this Cadillac, even if they call it something that sounds vaguely French, like Celestiq, you know, does it have the cachet that is going to draw in that high end of a car buyer?

PRAS SUBRAMANIAN: I think that's what they're trying to build. They're trying to build that cachet. And they're saying we have the technology, the materials, the parts, the craftsmanship to do that. Now, that's a good question. Can they actually match a Rolls Royce or a Bentley in that regard? I'm also somewhat skeptical, but I'm willing to give it a chance, take a look. When it comes up on my driveway, Sozz, I'll make sure to check it out.

BRIAN SOZZI: Oh, please, please, please invite me over. I really want to see it.

PRAS SUBRAMANIAN: That's the play, right, is Lucids are a 150-ish kind of car, right? So we're talking about double that amount. So that's where they want to be with this only a few hundred a year maybe.

JULIE HYMAN: Maybe the Celestiq will give the cou-pe its cachet to make some moolah. I don't know. All right. Thanks so much, Prash. Appreciate it. "Prash"-- now I'm doing it, too.