March 28 - Tesla's Model S and Cadillac's ELR compete in the race to go green. Lisa Bernhard reports.
▲ Hide Transcript
▶ View Transcript
Luxury green machines the hottest trend in cars for those looking to burn cash instead of gas if you want made in America. There are cute choices Elaine one. That Tesla model less or what will -- that disrupt her. Brainchild of Silicon Valley tech quiz Elon Musk. The futuristic Sudan are then did the auto industry with its pure and lithium ion battery power and seventeen inch touch screen. In lane to the Cadillac clr. AKA the classic challenger. Released in January. General Motors sleep hybrid -- doesn't stray too far from its fuel injected Detroit roots. Wrapping cadillacs luxurious legacy around a battery and gasoline system first introduce it it's cheaper greens siblings. This heavy balls Stiefel Nicolaus analyst James. -- I think the art to some degree is may be you know and retracing GM steps. And there expectation that by going to the higher end it's gonna be able to make more of a case to those consumers that can support. Again 7580000. Dollar price points so taking a page out of Tesla is book if you will. So which should be sustainable cars is more sustainable over time the numbers put Tesla in the fast lane both car start around seventy grant. But the -- last looks more profitable. Plus stronger than expected sales and stellar reviews have made -- stock price -- Giving them much smaller company a market cap that's already nearly half of GM's answer million customers strategies differ. Reuters managing editor and -- car guru Paul Ingrassia. Sentencing is in terms of marketing strategy -- Cadillac is now with this sort of a controversial macho alarm. Go by American. Chest thumping commercial for the radio are Tesla doesn't even got to do commercials their marketing really consists of things like building power stations they rely on word about the law. Tesla has about eighty charging stations nationwide where a full charge takes 75 minutes so you might want to grab a sandwich while you wait. ELR owners have to. -- for other public chargers a full charge takes eight to ten hours on a regular household outlet it'll get -- 37 miles on battery alone. The model less comes with sixty or 85 kilowatt hour batteries. This one at 85 has an EPA range of 265. Miles per charge. Safety concerns about its battery a rose last fall after the model and suffered three fires in six weeks results from an investigation are pending. As for sales taxes exceeded all targets and is being a big push in Europe and China. But it's recently hit some speed bumps a New Jersey ruling banned direct -- cells there. Handful of other states have done the same clr sales so far are by comparison. One reason and many Cadillac dealers don't wanna sell them. Some analysts suspect it's because they're not up to speed on the technology order seemed to ignore as a tough sell. But being caddie has its privileges especially when it comes to sourcing parts analyst -- -- of web bush securities. General Motors is gonna say listen you know we're only -- make certain number of these vehicles if you wanna be on other are other programs you really need to help us. Make this a -- vehicle from an economic standpoint the kind things done Detroit fairly often seek and imagine they get. Superior pricing on parts. But the vital part to both cars is the battery and test was got a potential game changer in the works. Its own battery plant dubbed the data factory could battery costs as much as 50%. Not just for the model S but for future Tesla is like it's cheaper gen three -- do in 2017. So for now the model S has the EL our way back in its rearview mirror. But the excitement of any race is -- never quite sure who'll get the checkered flag.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code