Cadillac says it will ‘define the future of luxury transportation through its range of forthcoming EVs.’
Say this much for Cadillac: they ain’t thinking small.
The General Motors’ (GM) – Get General Motors Company Report premium brand recently announced new details for its 2023 Lyriq RWD and Global Cadillac Vice President Rory Harvey promised in a statement that “Cadillac will define the future of luxury transportation through its range of forthcoming EVs, and it all begins with LYRIQ.”
First Electric Offering
Lyriq is Cadillac’s first-all-electric offering and the company, which aims for an all-electric portfolio by 2030, said its luxury SUV/crossover has an EPA estimated 312 miles of range on a full charge.
The median range of a 2021 model year electric vehicle was 234 miles.
Lyriq is based on the Ultium platform, a modular setup that will underpin all kinds of vehicles in the GM family.
The Lyrig RWD has a starting price of $62,990, while the all-wheel-drive will cost an additional $2,000 and come with a second drive unit, which the carmaker says will be placed at the front of the vehicle to boost dynamics and performance.
Over 80% of electric vehicle owners charge at home, according to the U.S. Department of Energy.
Lyriq customers will have the option of receiving two years of unlimited charging credits at EVgo charging stations or a credit of up to $1,500 toward home charger installation through Qmerit.
“Looking forward to working with Cadillac to bring their customers seamless EV home charging solutions!”, Qmerit said in a tweet.
Every Lyriq comes with a portable dual-level cordset charger, enabling customers to charge their vehicles from both 120-volt and 240-volt outlets.
Taking on The Competition
Customers will be able to purchase faster 11.5 kilowatt or 19.2kW wall-mounted charging stations.
By installing a 240-volt outlet or wall charger, customers can reduce the time it takes to charge a depleted battery from 3 days to overnight, the company said.
Cadillac will start taking orders for Lyriq on May 19 with RWD deliveries expected to start this fall.
AWD deliveries will start in early 2023 and Cadillac said it expects to announce the EPA-estimated range closer to the start of production..
Lyriq will face some formidable competition in the luxury electric SUV space, including Tesla’s (TSLA) – Get Tesla Inc Report Model Y, which has a starting price of about $60,190; Tesla’s Model X, which starts at around $114,990; Ford’s (F) – Get Ford Motor Company Report Mustang Mach-E, starting at $43,895 and Volkswagen’s (VWAGY) – Get Volkswagen AG Report ID.4, which starts at about $41,230,
Separately, Cadillac will be heading down Electric Avenue without billionaire George Soros on board.
The iconic investor and short-seller sold all his GM shares, according to a filing with the Securities and Exchange Commission.
