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2023 Cadillac Lyriq. Photo: GM

GM plans to start taking orders in September for the 2023 Cadillac Lyriq, a striking electric SUV coming early next year at a starting price of $59,900.

Why it matters: The production version of the Lyriq, which debuted Wednesday, marks the beginning of the luxury brand's phaseout of gasoline-powered vehicles by 2030.

The big picture: The Lyriq, which looks remarkably similar to a show car unveiled last year, features GM's new modular Ultium battery system.

  • Ultium will also power upcoming electric models like the GMC Hummer pickup and SUV, Chevrolet Silverado pickup and Cruise Origin robotaxi.
  • GM plans to launch 30 EVs globally by the end of 2025, two-thirds of which will be available in North America.
  • The company has committed $27 billion to develop electric and autonomous vehicles in the next five years, including construction of two giant battery factories in Ohio and Tennessee.

Details: The rear-wheel-drive Lyriq will launch with a 100 kilowatt-hour battery pack that will deliver an estimated 340 horsepower and more than 300 miles of driving range with a full charge, Cadillac said.

  • Officials said all-wheel-drive performance versions will come later.
  • The $59,900 price tag is substantially lower than other luxury EVs, including the $71,000 Jaguar iPace, $66,995 Audi e-Tron and $79,990 Tesla Model X. Tesla's smaller Model Y starts at $39,990.

Charging alternatives include fast charging at public stations (adding up to 76 miles of range in 10 minutes) and a 19.2 kW home charger (adding 52 miles of range per hour).

Yes, but: The Lyriq lacks at least one convenience found in a Tesla, the leading purveyor of electric cars.

  • Tesla has its own proprietary high-speed Supercharger network. Just plug in and the car is recognized, so payment is automatically billed to the owner.
  • While the Caddy can be charged at a variety of non-Tesla public charging networks such as EVGo, Chargepoint or Electrify America, owners need to pre-register with each network and maintain an assortment of swipe cards, RFID fobs or phone apps for payment purposes.

What to watch: Cadillac officials say they intend to bring Tesla-like automated payment through a new Plug and Charge protocol already in use across EV charging networks in Europe.

  • It's a mundane but important convenience: the technology identifies an EV to a charging network, which then validates the car and provides automated billing information to begin charging.

What's next: A new ad campaign featuring the 2023 Cadillac Lyriq debuts April 25, during the Oscars broadcast.

Editor's note: This story has been corrected to reflect that the Lyriq has an estimated 340 horsepower, not 240.

Go deeper

Elon Musk: Autopilot feature wasn't enabled in fatal Texas crash

Photo: Patrick T. Fallon/Bloomberg via Getty Images

Tesla CEO Elon Musk tweeted on Monday that "data logs recovered so far" show the car's Autopilot feature was not enabled — and it did not have access to "full self-driving mode" — in the deadly crash in Texas involving the company's electric vehicle.

Background: Local investigators said they believed the car was operating without anyone in the driver's seat. At the time of death, one man was in the passenger seat, while another was in the rear seat, KPRC 2 reports.

Updated 1 hour ago - Politics & Policy

Prosecutor to seek hate crime charges, death penalty in Atlanta shootings

In Hopkinton, Mass., the Rally & Run To Stop Asian Hate is held to show solidarity in the wake of deadly Atlanta shootings and to mourn the loss of eight lives including six Asian women. Photo: Jonathan Wiggs/The Boston Globe via Getty Images

Prosecutors unveiled murder charges against the white man accused of shooting and killing eight people, six of whom were Asian women, at Atlanta-area spas, AP reports.

Driving the news: A prosecutor filed notice that she plans to seek hate crime charges and the death penalty in the case. Two separate grand juries have now indicted the suspect on murder charges.

America's pandemic coin crunch returns

Illustration: Sarah Grillo/Axios

An early pandemic problem that plagued businesses is back: not enough change to go around.

Why it matters: The pandemic broke America's coin flow. It has repercussions for millions that rely on it for daily transactions.