After unveiling the Cadillac Lyriq, GM’s first next-gen electric vehicle, last week, the automaker has now confirmed that the electric SUV is going to start at less than $60,000.

That’s a surprisingly low price for the premium SUV.

Last week, GM unveiled the Cadillac Lyriq electric SUV, the first electric vehicle using GM’s Ultium platform.

It hit a lot of the marks to make the EV community happy: great design, 300 miles of range, 150 kW fast charging, and more. The main concern was the price, which GM didn’t announce at the time.

Steve Carlisle, president of General Motors North America, confirmed that the Cadillac Lyriq will start at less than $60,000.

The executive said at the JP Morgan Auto Conference (via Automotive News):

We need to be in the same price zone. 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.

It would make the electric vehicle just a little more expensive than the Cadillac XT5. GM plans to bring the Cadillac Lyriq to market in 2022.

Electrek’s Take

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 succesful.

Now its main issue is that it’s coming out in 2022. I think it could be a success right now on the market, but two years from now, the market will have already evolved. The EV space is moving so fast right now.

What do you think? Let us know in the comment section below.

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