According to an inside source used by Motor Trend, GM approved production of the Cadillac Converj pending government bailout funding approval.  The Coverj is Cadillac's version of the Chevy Volt.  Based off of the same technology, but with a different body and considerably higher price point, the Converj could reach showrooms by late 2011.

GM's restructuring plans are due by June 1st of this year and if they are approved, the Cadillac Converj will go into production soon after and will be released in late 2011 as a 2012 model.  The Converj is rumored to be about twice as expensive as the Volt so expect a price around $80,000.

The higher price tag could make the Converj profitable for the company and many feel its a better fit for the Volt's technology.  GM will likely lose money of the Chevy Volt due to its lower price tag, but the Converj could be a profit maker.

The Converj will ride on the Voltec architecure that underpins the Chevy Volt but modifications will need to be made to the interior and of course the exterior of the Converj.  To be production ready by 2011, GM will have to work fast as the goal seems ambitious at this point.  The drive-train will likely be a carryover from the Volt, but with additional battery power to set the Cadillac apart as a sportier vehicle than the Volt.

The Converj will likely be a two door vehicle similar to the concept in the picture and that was on display at the NAIAS this past January.  Some modification will be necessary to the concept to make it adaptable to the Volt architecture.  Primarily, the Converj would have to be a taller vehicle with additional ground clearance to avoid GM having to redo the entire architecture and to save on production costs.

Additional vehicles may stem from the Voltec architecture including a possible crossover utility vehicle made by Buick riding on a platform that would be larger than the Chevy Volt.  This possibility is not confirmed at this point.

Source:  Motor Trend