We still have to wait a bit for the Cadillac Lyriq EV to arrive, but now we’re hearing a bit more about how much it will cost. GM North American president Steve Carlisle recently hinted at the starting price for the 2023 Lyriq.

“This car will need to be priced similar to how the industry prices mid-size luxe 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,”¬†Carlisle stated at the JP Morgan Auto Conference, which was reported by Automotive News.

So that means we can expect the Lyriq to probably start in the high $50s. That also means that the Lyriq will be priced about the same as the Cadillac XT5, which tops out in the mid-$50k range.

The Cadillac Lyriq will have a driving range around 300 miles and will be available in rear- or all-wheel drive versions. The Lyriq is the first of five EVs for the Cadillac brand. One of them will also be a smaller electric crossover, which will rival the Tesla Model Y.