Here's How Much the Cadillac Lyriq EV Crossover Could Cost
Just days ago Cadillac took the wraps off its first EV -- a luxury crossover called the Lyriq -- set to enter production in the near future. The sleek crossover sported an evolution of Cadillac's current design language adapted to a zero-emissions powertrain, and featured plenty of futuristic design details on the outside as well as inside, including a 33-inch diagonal LED infotainment screen stretching across a large portion of the dash. When it enters production, the Lyriq will be powered by General Motors' new Ultium drivetrain, pairing a battery storing approximately 100 kWh of juice, thanks to a newly developed nickel-cobalt-manganese-aluminum composition, with electric motors for the rear or all four wheels depending on buyer preference. Along with near 50:50 weight distribution, this battery and motor setup is expected to give the Lyriq a range of over 300 miles when it goes on sale.
The Lyriq is expected to usher in a new age for the brand -- something we don't get to say very often -- offering an entirely new platform, drivetrain, interior tech suite and exterior design. The near-production prototype shown by Cadillac appeared futuristic, like a prop from a sci-fi film, and also sparked some fears that it could be an expensive halo model created mostly for wealthy early adopters and brand image, while not targeting repeat Cadillac buyers.
To the contrary, the Lyriq will be priced quite modestly for an luxury EV crossover with over 300 miles of range and a futuristic interior. GM North America president Steve Carlisle revealed at a JP Morgan Auto Conference this week that the Lyriq will start below $60,000, according to Automotive News.
"This car will need to be priced similar to how the industry prices midsize lux SUVs today, maybe a slight premium at the outset," Carlisle said. "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."
We expect Carlisle's comments to refer to a base, rear-wheel drive version of the model, and before the application of a $7,500 federal tax credit. But even without all-wheel drive box checked this quoted starting point would sit well below segment rivals from Team Germany.
By comparison, the Audi e-tron SUV starts at $66,995 while offering a range of 204 miles, and that's thanks to a recent and quite substantial $8,800 price cut for the 2021 model year. The delayed Mercedes-Benz EQC, meanwhile, was quoted a starting price of $67,900 in November of last year, before it encountered some production issues and is now scheduled to land here in 2021. Jaguar's I-Pace, sized a segment below its rivals, starts at $70,900, once again before the application of a $7,500 federal credit.
What some of these prices in this segment point to is the fact that buyers may not be willing to pay as much of a premium for a luxury EV over a gasoline model as they did five years ago.
But if there is one downside, it's that the Lyriq won't be on the market for quite some time; the model is scheduled to enter production in late 2022. It should have a few more rivals by that time.
