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GM Building Plug-In Cadillac ELR Similar to Chevrolet Volt

General Motors Co. said it will make a plug-in hybrid Cadillac ELR that uses technology similar to its Chevrolet Volt that went on sale last year.

GM plans to price the ELR less than the $57,400 Model S by Tesla Motor Inc.’s, said a person familiar with the plans. It will be at least as fast as the Volt and will probably drive farther on battery power alone, said the person, who asked not to be identified because the details are private.