Check out Cadillac’s new OPTIQ EV, the LYRIQ’s cheaper sibling

Cadillac is adding a smaller, cheaper electric SUV to its lineup. The new OPTIQ EV is slated to sit below the Cadillac LYRIQ as the brand’s new entry-level EV.

GM’s luxury brand confirmed that a fourth EV will join its growing lineup Friday. The Cadillac OPTIQ is the brand’s new entry-level EV, slated to sit below the LYRIQ SUV.

Cadillac said that the “OPTIQ’s spirited driving dynamics are designed to appeal to global luxury customers.”

Although no other details were mentioned, the new EV will have a starting price under the LYRIQ’s $58,590.

The new entry-level OPTIQ EV is expected to go on sale as early as next year. It will likely be sold in global markets, including North America, Europe, and China.

The Cadillac OPTIQ will follow the LYRIQ, the $340K Celestiq, and the recently revealed ESCALADE IQ. The ESCALADE IQ is the all-electric version of Cadillac’s full-size SUV. It will be available next year, starting at $130,000.

Cadillac unveils new entry-level OPTIQ EV

We knew GM’s luxury brand was planning to release a cheaper electric SUV after filing for the name Cadillac OPTIQ with China’s MIIT in July.

In August, leaked images from China’s MIIT revealed the compact electric SUV in full. The report indicated the new EV will have 143 kW front and 68 kW rear electric motors. Its battery packs will also be supplied through a CATL and SAIC joint venture. At least in China.

At 4,822 mm (190″) long, 1,912 mm (75″) wide, and 1,643 mm (65″) tall, the Cadillac OPTIQ EV will compete directly with the Tesla Model Y ((4,750 mm long, 1,912 mm wide, 1,624 mm tall).

Cadillac is transitioning its lineup away from gas-powered vehicles by 2030. The new entry-level EV will play a key role in the luxury brand’s transition as it aims to compete with leaders like Tesla.

The brand says additional details, including features and pricing, will be released next year.

Electrek’s Take

Cadillac’s new entry-level EV looks sleek from the first images. The OPTIQ EV is a smaller, cheaper sibling to the $59K LYRIQ.

Tesla’s Model Y currently starts at $43,990 with up to 260 miles range in the US. For Cadillac to compete, starting prices should be around $45K. However, GM has disappointed buyers by dropping the entry-level Blazer EV and pushing back production of the Equinox, Silverado, and GMC Sierra Denali EVs.

GM has struggled to ramp up production of its luxury brand EVs so far. Cadillac delivered 5,334 LYRIQs through September, with 3,018 in the third quarter.

The luxury brand recently expanded into Europe, Australia, and New Zealand as it looks to grow the brand.