2023 Cadillac Lyriq Offers 300 Miles Of Range For $59,990

In a surprise move, Cadillac priced its new 2023 Lyriq electric SUV at just under $60,000. (Cadillac)

Cadillac's first all-electric vehicle, the 2023 Lyriq SUV, will arrive at dealerships in the first half of 2022 with a price tag that starts at $59,990. The new rear-wheel-drive EV sports a range of over 300 miles and an interior dominated by a 33-inch-diagonal advanced display screen. In other words, Cadillac is finally ready to be a force to be reckoned with in the EV space.

This means the pool of luxury electric SUVs is growing. It already includes models such as the Audi E-tron, Polestar 2, Tesla Model Y, and Volvo XC40 Recharge.

The Lyriq's design will be familiar to anyone who saw the concept version that General Motors unveiled in 2020. The front end emphasizes the black crystal grille that hides several sensors used in the car's advanced safety technology. And speaking of safety tech, the range of available amenities includes GM's Super Cruise hands-free driving capability. Lyriq's designers and engineers also came up with a unique "lighting choreography" for the LEDs in the grille. This sequence is on display each time the EV starts up.

2023 Cadillac Lyriq Offers 300 Miles Of Range For $59,990

The 2023 Cadillac Lyriq has a 33-inch panel over a combined instrumentation and touchscreen infotainment system display. (Cadillac)

The Lyriq uses GM's Ultium platform, a flexible system that the automaker can adapt to many different vehicle types. In the Lyriq, that means a powertrain with a 100 kilowatt-hour (kWh) battery pack made up of 12 modules; there’s also an electric motor with a power output of 340 horsepower. For recharging, the Lyriq will have a powerful 19.2-kilowatt (kW) onboard charger (included with the initial First Release trim models, optional on other versions). This charger adds over 50 miles of range per hour using a standard Level 2 home outlet. Using a 190 kW DC fast-charging system, the Lyriq will recoup 76 miles of range in just 10 minutes.

According to CNET, the price for the Lyriq was originally going to be closer to $75,000, but GM isn't saying exactly why it lowered the price. While many EVs on dealer lots today qualify for a federal electric vehicle tax credit of up to $7,500, the credit for GM plug-ins ended in early 2020. Each automaker’s credits phase out after reaching certain sales thresholds. Tesla has also run out of credits for its buyers.

While there's no official word from GM about why the automaker chose to price the Lyriq at this particular level, it is notable that GM President Mark Reuss said last month that the federal government should expand the tax credit to include more GM vehicles. That way, Reuss said, "customers of first movers like GM are not penalized."

GM will start taking reservations for the Lyriq in September 2021.