According to sources, GM has canceled plans for a plug-in hybrid based on the current Cadillac SRX platform.
The plans to build a plug-in hybrid based on the current Cadillac SRX have been shelved since the project was seen as not being financially viable. The project was never officially made public by GM, but the plug-in hybrid was expected to share most of the same technology that GM is using in the Chevy Volt.
It was reported at the end of last year that GM was working on a Cadillac hybrid crossover and GM CEO Dan Akerson said in January that the model was “likely.” People close to the project have now been informed that the project has now been put on hold.
One of the reasons that the project was canceled is because by the time the plug-in hybrid would have been ready for production, the current Cadillac SRX platform would be nearing the end of its life cycle, which would have added more costs. The current SRX has already been out for two years and the costs for developing the plug-in hybrid were already high. The plug-in hybrid will most likely be moved to the next SRX.
Full Story: Reuters
