The 2023 Cadillac Lyriq debuted earlier this month, promising Tesla-like range and technology. Now, Cadillac is providing clues as to how much the electric crossover will cost when it debuts in late 2022 or early 2023. As Automotive News reports, the Lyriq will start under $60,000. That’s according to Steve Carlisle, president of General Motors North America, who made the announcement at the JP Morgan Auto Conference on Wednesday.
“This car will need to be priced similar to how the industry prices midsize lux SUVs today, maybe a slight premium at the outset,” said Carlisle. “It’s a price that won’t be high five digits. It won’t start with a seven and it won’t start with a six.” Full pricing information will be released closer to the model’s launch.
Time will tell if the 2023 Cadillac Lyriq carries a significant price premium over the similarly sized XT5, which currently starts at $45,090. To compare the Lyriq with its EV rivals, the Tesla Model Y is currently listed with a starting price of $51,190 while the Jaguar I-Pace is an eye-watering $71,000. These prices include destination fees.
We don’t know all the details yet, but Cadillac says the Lyriq will be able to travel more than 300 miles on a single charge. It will be available with either RWD or AWD, and its front-to-rear weight distribution will be very close to 50/50, improving performance. The Lyriq will sit on GM’s new Ultium EV platform, which will eventually spread to other Cadillacs. Inside the cabin, look for a massive 38-inch screen on the dashboard.
Automakers sometimes have very different opinions about when customers will be ready for EVs. For Cadillac, it seems like that time will come sooner rather than later. By the end of this decade, almost all of Cadillac’s cars will be electric. “Every indication is that consumers are getting increasingly ready. It takes a whole ecosystem approach,” said Carlisle.
The Lyriq is expected to enter production in late 2022. The show car that was revealed earlier this month is already 80-85 percent ready for production.