“The ELR’s a big disappointment; there’s no denying, yet still I want it, and want it because it is a statement how progressive Cadillac is and that we can tackle electromobility in the brand. But, it was also great learning exercise for all of us because maybe we asked too much. We tried to create a car that was the niche in the niche in the niche and that was where the volume ended.”
Cadillac’s chief marketing officer Uwe Ellinghaus admits that the Cadillac ELR, the luxury version of the Chevy Volt, was a sales failure. Instead of another all-electric car, Cadillac now wants to focus on offering plug-in hybrid versions of almost all its models.
“I think if you were to look out five or ten years, if I was a member of OPEC, I would be pumping as much as I could today while it’s worth something, because it might not be worth a whole lot by 2030.”
Jim Chanos, hedge fund manager and Kynikos Associates President, thinks that the rising supply of electric vehicles will lead to a higher demand for natural gas and solar power.
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