Cadillac's Escalade IQ EV debuts with 450-mile range, $130K price tag

Cadillac’s "big and bold" electric SUV — the Escalade IQ — is finally here.

Riding on its own bespoke platform powered by General Motors' (GM) Ultium EV powertrain and batteries, the $130,000 Escalade IQ looks distinctly different than the traditional Escalade.

Looks can be deceiving, though. It may appear less tall, with its more sloping cabin and angular 'D' pillar by the rear hatch, but the Escalade IQ is just as imposing as its gas-powered brother.

The Escalade IQ also houses a number of technical innovations. For instance: a full-dash length curved LED touchscreen measuring 55 inches diagonally. Also, GM’s latest Supercruise self-driving tech and a massive 200 kWh Ultium powertrain are good for an estimated 450 miles of range and 750 horsepower.

"[The Escalade] has always been a technological bed for us," GM President Mark Reuss said in an interview with Yahoo Finance. Reuss has been dubbed the "architect" of Cadillac’s electric transformation, which the company began in earnest five years ago with a goal of full electrification by 2030.

For GM, the Escalade is the straw that stirs the drink when it comes to electrification.

Cadillac already has the LYRIQ compact SUV EV on sale at the moment. But the Escalade will be the nameplate that really shows the world that Cadillac is becoming a true electric brand. The Escalade franchise, after all, has sold over 1 million vehicles — and that's where Cadillac customers expect GM to showcase its technological innovations.

"You saw the first OLED curved screen in the last Escalade," Reuss said, noting that Cadillac is taking the tech and interior design up a notch in the new IQ. Reuss also predicted loyal Escalade buyers will be keen to purchase an electrified version too, as long as it meets some conditions, such as luxury appointments and a long cruising range.

"We have a lot of demand for an Escalade or an SUV that is luxury, that’s an EV. We know that," Reuss said. "So the demand is here. We're gonna be first in again with Escalade and the EV, and it’s important for us to be first," Reuss said.

Being first is important, as there is no real competitor in the market yet for a full-size, three-row electric SUV. When Escalade IQ rolls off the Factory Zero assembly line in Detroit next year, the only real options will be the much smaller Rivian R1S; the Tesla Model X, which also has a smaller footprint than the Escalade IQ; and the Mercedes EQS SUV, again with a smaller footprint.

Kia’s upcoming EV9 will be a competitor in the size category but not the luxury one, and Land Rover’s Range Rover EV is still a few years away.

Part of the appeal of the Escalade IQ for both new buyers and Escalade loyalists is the 450-mile range. Along with curing that dreaded range anxiety with that larger battery, the Escalade IQ is capable of a 100-mile reach in only 10 minutes of charging. (Using a 350kW DC fast charger.)

Speaking of fast, when the Escalade IQ does begin production at Factory Zero in Detroit, Reuss anticipates that the ramp-up in production won’t take as long as the LYRIQ’s production. That's because battery production at GM’s plants in Spring Hill, Tennessee, and Lordstown, Ohio, will be happening concurrently.

"This will have a different ramp than LYRIQ did just because we're already starting production of the Silverado pickup truck in Factory Zero — they both carry the 12 mod [battery] packs. We've got some experience on it," he said.

But a possible hiccup is the ongoing negotiations with the UAW over a new contract with GM and its big three rivals Ford and Stellantis. Without a new contract, the UAW may implement a work stoppage on September 14 when the current labor pact ends.

Reuss wouldn't comment on the status of those negotiations, but he said GM is negotiating for a deal "that works for everybody in good faith."

With the excitement seen at the launch of the Escalade IQ, it seems both GM and its UAW partners will be keen to make a deal — and get to work on one of the most anticipated vehicles in Cadillac’s 120-year history.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

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