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Cadillac prices Lyriq EV SUV under $60,000, reveals production model

General Motors has revealed the production version of the 2023 all-electric Cadillac Lyriq SUV along with its starting price.

The production version is almost identical to the concept version, which Cadillac revealed in August, with minor tweaks such as containing two cupholders rather than the one in the concept version.

The vehicle will start production around this time next year, nine months ahead of schedule, thanks to advances in virtual technology. But consumers can start ordering it this fall.

This launch is significant for Cadillac. The Lyriq, along with the luxury brand's teasing of an upcoming Celestiq electric sedan, reconfirms Cadillac's commitment to ending internal combustion engine (ICE) vehicles in favor of an all-electric lineup by the end of the decade.

"We've been on record saying, 'We'd enter this decade as an ICE brand and leave this decade as an EV brand,'" said Rory Harvey, vice president of global Cadillac, during a press briefing Tuesday. "Which means that we will not be selling ICE vehicles by 2030."

Competitive pricing

The Lyriq is a two-row SUV that will start at $59,900 and customers can reserve it starting in September.

The price is competitive with other all-electric luxury SUVs: The 2022 BMW iX starts at $80,000, the 2020 Mercedes-Benz EQC starts at $67,900, 2020 Jaguar I-Pace starts at $69,850 and the 2021 Tesla Model Y subcompact SUV starts at $39,990.

The Lyriq will be powered by GM's Ultium battery platform and be built at GM's Spring Hill Assembly plant in Tennessee.

On Friday, GM said it, along with its joint-venture battery partner LG Chem Ltd., will build a battery cell factory in Spring Hill to make batteries for the Lyriq. It will be GM's second battery plant in the U.S. The first is still under construction in Lordstown, Ohio.

Cadillac's cornerstone

The Lyriq will be the cornerstone on which Cadillac will build its future.

"Every new Cadillac that GM introduces from this point on will be a state-of-the art luxury electric vehicle," Harvey said.

To prepare for a transition to all EVs, Cadillac leaders are working closely with dealers on the kind of infrastructure dealers will need in their stores as well as software and other equipment by the first quarter 2022, Harvey said.

Cadillac has 878 dealers "at the moment," Harvey said. But about 200 have taken a buyout and are in a "transition program" to give up the franchise rather than make the investment to sell EVs, Harvey said.

"We have put all the elements of our marketing plan in place now too, so that we can put our foot on the accelerator" to move to an all-electric lineup. "I almost said gas pedal," Harvey joked. "But that wouldn't be appropriate."

'Best' fast charging

Customers can choose between Satin Steel Metallic or Stellar Black Metallic exterior colors, and Sky Cool Gray or Noir for the interior, said Andrew Smith, executive director of Cadillac Design.

Smith said the Satin Steel Metallic shows off the vehicle's crisp lines and the black "is a totally different appearance and can show you how sinister the vehicle can look."

The interior has intricate laser-etched patterns through wood over metal décor, which has never been done before, Smith said. The large, curved LED screen is the centerpiece and "all the components are incorporated artfully, blurring the lines of separation among technology, lighting and décor," he said.

The Lyriq also has a striking example of Cadillac’s next iteration of brand styling: A distinctive black crystal grille.

The Lyriq will offer a 300-mile range on a full charge. It has high-speed DC fast charging for public stations at 190 kW that allow a driver to add 76 miles of range in about 10 minutes of charging time.

For home charging, the Lyriq offers a 19.2 kW module, which can add up to 52 miles of range per hour of charge, "best in industry," said Jamie Brewer, Lyriq chief engineer.

Brewer said the launch Lyriq will be rear-wheel drive, but a performance all-wheel-drive variant will be available down the road. Harvey stopped short of saying there'll be a V-series for the Lyriq, but hinted it is possible Cadillac will do something with an electric V-series given the brand's heritage in the performance series.

 

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