Cadillac has officially revealed the prices and specifications of the 2014 ELR, which will start at $75,000 and will launch in January.

The car maker also confirms that the ELR's destination fee should not be higher than $925. A customer can possibly get federal tax credit of $7,500 (depending on personal circumstances), which may bring down the starting price of the car to $67,500.

At $75,000 the luxury electric-powered 2014 Cadillac ELR is more expensive than the Telsa Model S. The upcoming car will sport the same Chevrolet Volt powertrain. The 2014 Cadillac ELR sports a T-shaped, 16.5 kWh lithium-ion battery pack and a 1.4-liter gasoline-powered range-extending engine. The electric engine allows the car to drive on electric power only for up to 35 miles before switching to the gasoline engine, which can drive for up to 300 miles.

Even though the ELR and the Volt have the same engine, the ELR offers slightly more power of 207 horsepower and 295 lb-ft of torque compared to the 149 horsepower and 273 lb-ft of the Volt. The 2014 Cadillac ELR is also around 300 pounds heavier than the Volt.

The 2014 Cadillac ELR will also tout an 8-inch touchscreen powered by CUE infotainment system. The car will also include an array of safety and convenience features such as lane departure warning, forward collision alert and a 24-hour concierge service to answer questions. The "regen on demand" feature will also allow the driver to boost the brake regeneration, slowing down the vehicle and also regaining energy.

Cadillac has just revealed the starting price of the car and has not confirmed the full pricing of specific options. The 2014 Cadillac ELR will offer a Luxury Package, which will include 20-inch aluminum wheels, intelligent headlights, blind spot warning, adaptive cruise control system and also rear cross-traffic alert.

The upcoming car will be available in four color options: Radiant Silver Metallic, Black Raven, Crystal Red Tintcoat and Graphite Metallic.

Customers who buy electric or hybrid cars usually prefer economy and efficiency over style and luxury. It will be interesting to see if many customers will be interested in purchasing the upcoming 2014 Cadillac ELR.  

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