Competition Secured: Cadillac's Stunning New Electric SUV Will Start At Under $60,000

As Tesla's valuation continues to rocket toward $300 billion, the company is officially facing an onslaught of competition from legacy car manufacturers. 

The latest to jump into the fray is Cadillac, who has confirmed they will be offering their luxury electric SUV, the Lyriq, for less than $60,000 - a competitive price point that was widely expected to be much higher. When Cadillac revealed the SUV last week, they did not put a price point on the model. 

The Lyriq is going to boast more than 300 miles of range for both the rear-wheel and all-wheel-drive versions, according to electrek. The SUV, which is due out in 2022, will also offer 150 kW fast charging. 

Even the pro-Tesla lot over at electrek was forced to admit that the model "could be" a success given its price point. Editor Fred Lambert wrote earlier this week about the Lyriq, conceding that it will definitely act as competition to Tesla's Model Y (or whatever asinine new model the company is pumping by 2022):

I think that this is probably a great surprise for most people.

After the unveiling, it seemed like most people were expecting a price of over $70,000, but it now sounds like it will be closer to $50,000, making it competitive with the current versions of the Model Y, which starts at $50,000.

With that price, I think it could be successful.

According to General Motors, the Lyriq features:

  • Charging options that fit a variety of preferences for home, the workplace and on the road — including DC fast charging rates over 150 kilowatts and Level 2 charging rates up to 19 kW

  • Rear-wheel drive and performance all-wheel drive configurations

  • LYRIQ will offer the enhanced version of Super Cruise, the industry’s first truly hands-free driver assistance feature, available on more than 200,000 miles of enabled roads and recently updated to include lane change on demand

  • New technologies such as dual-plane augmented reality-enhanced head-up display and remote self-parking

  • The brand’s most seamless and adaptive technology interaction with the driver and passengers, including the latest Cadillac user experience, which is showcased in a 33-inch-diagonal advanced LED screen the spans the entire viewing area of the driver

“Led by LYRIQ, Cadillac will redefine American luxury over the next decade with a new portfolio of transformative EVs,” said Steve Carlisle, executive vice president and president, GM North America. “We will deliver experiences that engage the senses, anticipate desires and enable our customers to go on extraordinary journeys.”

Jamie Brewer, Cadillac LYRIQ chief engineer, said: “LYRIQ was conceived to make every journey exhilarating and leverages more than a century of innovation to drive the brand into a new era, while rewarding passengers with a more personal, connected and immersive experience. To do this we developed an architecture specifically for EVs.  It is not only an exceptional EV, but first and foremost a Cadillac.”

Here is Cadillac's reveal of the Lyriq: