General Motors said its Cadillac luxury roadster will be named the XLR, which is scheduled to go on sale late next year. The rear-wheel-drive two-seater was called Evoq when it was introduced at the Detroit auto show in 1999. It is Cadillac’s first roadster since Allante was discontinued in 1992. The V8-powered XLR, expected to cost around $70,000, will have a body made of composite plastic, similar to the Chevrolet Corvette. It will be built alongside the Corvette in Bowling Green, KY.

Originally posted on Fleet Financials