DETROIT — The 2023 Cadillac Lyriq, the midsize crossover that will begin the brand's march toward a fully electric lineup, will start at half the price of a 2022 GMC Hummer pickup, Cadillac says.
The Lyriq will have a base price of $59,990 including shipping, Cadillac said Wednesday as it revealed the production version. General Motors plans to begin building it in the first quarter of 2022 at Spring Hill Assembly in Tennessee.
Rory Harvey, vice president of global Cadillac, said the Lyriq pricing structure is "very, very competitive" with luxury EV peers.
Prices for the Lyriq and other electric vehicles have to be similar to gasoline-powered models to replace the current lineup with EVs by 2030, GM North America President Steve Carlisle said in August, hinting at the Lyriq's price tag. The Hummer will cost $112,595 in its first model year, with less-expensive versions slated to follow.
GM has pledged $27 billion toward electric and autonomous vehicle development and plans to have 30 EVs available globally through 2025. The automaker is aiming for an all-electric light-vehicle lineup by 2035, and Cadillac is the lead brand for the EV changeover.