What makes Cadillac’s debut LYRIQ EV stand out?

It can be hard to get your hands on a car these days, especially if it's an electric vehicle. Many EVs aren't always available to buy immediately off the lot, and some are even pre-order only, but there are dozens of options to choose from. You can add another to that list - the Cadillac LYRIQ electric SUV crossover.

While this is not the first EV for the parent company, automaker General Motors, it is GM's first electric Cadillac model.

Unfortunately for car buyers, the 2023 models are all pre-ordered but you can get on the list for the 2024 models and wait patiently for the car to be available to you. What is there to look forward to? Let’s find out.

How much does the LYRIQ EV cost?

The Cadillac LYRIQ comes in two models: the rear-wheel-drive (RWD) model and the all-wheel-drive (AWD) model. The RWD model has a starting cost of $62,990, while the AWD model starts at $64,990. But, these costs can vary based on any added internal and external features you may choose.

Right now, you can't go pick up a LYRIQ EV at your local Cadillac dealership - you must preorder the vehicle. To preorder the LYRIQ, all you need to do is reserve one from a local dealer and pay a $100 deposit. Unfortunately, all the 2023 model pre-orders are full, so you would be putting yourself on the waitlist for when the 2024 models become available.

Does the Cadillac LYRIQ qualify for the federal EV incentive?

The Cadillac LYRIQ is one of about a dozen electric vehicle models that qualify for the full federal EV incentive. This means you can get a $7,500 tax credit when you purchase a LYRIQ EV.

But just because the car qualifies doesn’t mean you automatically get the incentive. You also have to meet certain income requirements, and you can only claim up to what you owe in taxes. So, if you only owe $4,000, you can’t get the full $7,500.

You may also be eligible for state EV incentives that can lower the cost of going electric even more!

How long does it take to charge the LYRIQ?

The time it takes to charge an EV depends on the type of charger being used, so it could take anywhere from a few days to 30 minutes to charge your LYRIQ EV from 0% to 100%.

The LYRIQ comes with a dual-level charge cord that can be used on a standard 4-prong appliance outlet or a 3-prong outlet. Cadillac doesn't list how long charge times will be with just the cord, but normally you can expect less than 6 miles per hour of charging for a charger like this.

That means it would take over 3 days to completely charge an empty battery, assuming the cord provided by Cadillac works similarly to other charging cords.

Most EV owners opt to install a Level 2 charging station. You can install a Level 2 station that works with the included charging cord that will charge the car up to 21 miles per hour of charging - an ideal situation for overnight charging.

Cadillac also offers more powerful at-home charging stations that can provide up to 37 miles of range per hour for the AWD LYRIQ and 52 miles of range per hour of charging for the RWD model. It would take just 6 hours to completely replenish the battery of your RWD LYRIQ with this Level 2 charger.

When you're on the go, you can charge your LYRIQ with public fast-charging stations. Fast charging locations can charge the LYRIQ up to 76 miles of range in as little as 10 minutes.

To learn more about charging options, you can read more here about electric charging stations and more specifically about the most popular at-home charging option, level 2 chargers here.

What other unique features does the LYRIQ have?

Some exciting features to note about the LYRIQ RWD model are the 340 horsepower rating with 325 pound-feet of torque. The AWD model information is still not available for the torque, but GM estimates that it has a 500 horsepower rating.

The LYRIQ is a spacious SUV option with many modern features including a built-in Cadillac smart system with wireless Apple CarPlay, Android auto features, and Google compatibility to keep you connected no matter what type of phone you have. Additionally, you can expect driver-assist features like automatic emergency braking and available Super Cruise, a touted hands-free assistance technology.

The LYRIQ also includes a state-of-the-art AKG speaker system and a 33-inch diagonal advanced LED display touch screen. To be honest, that seems a bit distracting, but all modern cars seem to be headed in this direction.

The car was also designed to impress, with dramatic lighting and a full-glass roof with an added shade for convenience. From style to safety, the LYRIQ gives you all the standard features and comfort you want from a luxury car. Plus, you get a great EV mileage range.

How does the LYRIQ compare to other electric vehicle options?

The LYRIQ is best compared to other middle-range high-end EVs. It's not quite as expensive as cars like the Tesla Model X or the Porsche Taycan, which can run you well over $100,000. The LYRIQ's starting cost of $62,900 falls more in line with cars like the Audi e-tron and Jaguar I-Pace, which cost $65,900 and $69,900 respectively.

But, the lower price doesn't mean you have to sacrifice quality. The LYRIQ offers more mileage than most of its competitors at 312 miles per charge. That is more than the Porsche's 225 miles, or the Jaguar's 222 miles. The Tesla Model X does offer a slightly higher range of 330 miles per charge, but it will cost you almost double what you would spend on the LYRIQ.

Truly though, you can't go wrong with 312 miles at a lower price compared to higher prices and lower ranges offered by other luxury brands. Luckily, if you're not looking for a luxury price range, there are many affordable EVs to choose from. They might not come with a sleek design or a stellar mileage range, but they will get you to and from work in one piece. Some great options are the Chevy Bolt starting at $31,500 or even the Tesla Model 3 which starts at $39,890.

Is a Cadillac LYRIQ right for you?

If your preferred car brand is a Cadillac, go ahead and put your name on the list for the next available models. It is always tough to judge an EV that is not yet on the road, but from what Cadillac is promising, it can be a great choice for a luxury electric car.

For a luxury EV model, the price range is hard to beat at $62,990 to $64,990. The same is true for the EPA-estimated mileage range of 312 miles, which is better than some of its top competitors. Although the upfront cost of the LYRIQ might be hard to rationalize, keep in mind that you will never need to pay for gas again.

No matter where you charge your EV, at home or at a public charging station, you can save hundreds of dollars a year on gas. To save even more on costs, you can install solar panels to charge your EV during the day, potentially making your car, and everything else in your home, free to run!