GM has confirmed that pricing will start under $60,000.
Initially, most believed pricing was to begin in the $75,000 range.
The Cadillac Lyriq will be the first electric vehicle from GM built on the Ultium platform.
This is big news and possibly a shock to other manufacturers planning to launch luxury SUVs in the near future. Priced under $60,000, this means the all-new Cadillac Lyriq will compete with a far broader range of electric SUVs.
GM is certainly being aggressive with its future EV plans, as demonstrated by this announcement. Steve Carlisle, president of General Motors North America, said at the JP Morgan Auto Conference, that the EVs will replace the internal-combustion engine vehicles and be priced accordingly.
Automotive News (subscription required) reports the following: “We need to be in the same price zone,” said Carlisle. “This car will need to be priced similar to how the industry prices midsize lux SUVs today, maybe a slight premium at the outset. 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.”
The Cadillac Lyriq is XT5-sized and if it is to replace it or sold alongside it, it cannot be priced $15,000 or $25,000 more. The 2020 XT5 is priced from just over $44,000 in the US. With AWD, pricing jumps about $3,000. We can speculate that $55,000 for a RWD example would make sense however we’re still ways away from any official pricing information.
Production of the Lyriq is set to debut near the end of 2022.