Cadillac has announced the pricing for its first electric SUV. The Lyriq will be sold starting at $68,898 CAD, including shipping. The news was revealed today as the production version of the model was shown for the first time.
Construction of the Lyriq EV is scheduled to begin in the first quarter of 2022 at the General Motors (GM) plant in Spring Hill, Tennessee.
Rory Harvey, vice president of Global Cadillac, said the Lyriq's price range is “very, very competitive” with other luxury electric vehicles.
Steve Carlisle, president of GM North America, said last August that the Lyriq and other electric vehicles would need to be priced similarly to gasoline models if Cadillac was going to attain its goal of replacing its lineup with EVs by 2030.
GM has committed $27 billion to the development of electric and self-driving vehicles. It plans to introduce 30 all-electric models worldwide by 2025, of which about 20 will be offered in North America. The automotive giant is aiming for a fully electrified lineup by 2035, and Cadillac is at the centre of that transformation.
" We will be leaving this decade as an EV brand, as things stand today, which means that we will not be selling ICE vehicles by 2030," Rory Harvey said today at a press briefing.
Cadillac will debut a new ad featuring the Lyriq during the Oscars broadcast on Sunday, April 25.
The production version of the Lyriq shown today is nearly identical to the concept Cadillac unveiled last August. Explained Andrew Smith, Cadillac's general manager of design, “Everybody knows that Cadillac is great at doing show cars. What we really wanted to do here was basically to deliver the show car … and that's every small detail.”
Compared to the study unveiled last year, the Lyriq features slightly smaller wheels and differently designed doors. The standard version also has five seats instead of four and two cup holders instead of one.
The Lyriq, powered by GM's proprietary Ultium batteries, will offer a range of about 500 km and produce an output of 340 hp.