The competition in the EV market seems to be heating up, with automakers adding to the lineup of available electric vehicles one after the other. A new and highly sought-after entrant in the luxury electric SUV market is the 2023 Cadillac Lyriq, but how does it fare against its existing luxury EV competition? Here are four reasons to buy the Lyriq over the Jaguar I-Pace.

1. You get to save some money with the Cadillac Lyriq

Cadillac asserts that you can get the 2023 Lyriq for a starting price of $62,990, giving you access to the RWD model. Delivery for this option starts as early as fall 2022. That said, you can also add an additional $2,000 to acquire the AWD variant, although delivery is expected to begin a little later. Notably, the Cadillac EV is only available in one trim, something it shares with its Jaguar counterpart.

For this starting price, buyers can get unlimited charging credits for use at EVgo charging stations for the first two years of ownership. Alternatively, they could forego the charging credits in favor of $1,500 worth of credit to facilitate home charger installation.

If you decide to go with the Jaguar I-pace, you’ll have to part with at least $71,300, according to the Jaguar website. Notably, the only available trim for the Jaguar, the HSE, comes with an AWD drivetrain. The other two trims that were available with previous model years of the I-Pace, namely the S and SE, have been removed from the lineup, and the cost of the HSE lowered.

Nevertheless, even if you were to compare only the AWD variants, the Lyriq still saves you over $6,000 in initial costs.

2. The Lyriq offers more driving range than the Jaguar I-pace

The Cadillac Lyriq’s Ultium battery technology gives the vehicle the edge in range compared to the Jaguar I-Pace. It also helps that the car has a larger battery than its Jaguar counterpart. After all, according to Edmunds, the Cadillac’s battery capacity is 100 kWh while the I-Pace’s battery capacity maxes out at 90 kWh.

Ultimately this means the Lyriq offers an EPA-estimated range of about 312 miles putting it slightly ahead of the Kia EV6. Comparatively, the Jaguar I-pace luxury car offers only 234 miles of EPA-estimated range. One reason for the difference in range is the drivetrain, as the 312-mile range only applies to the RWD Cadillac.

If other EVs are anything to go by, the extra motor in the AWD variant will almost certainly mean a reduction in range. However, just how much reduction remains to be seen.

3. With the Cadillac Lyriq, you get more cargo space

While it loses out in width, the Cadillac Lyriq is both longer and taller than the Jaguar I-Pace, which seems to give it the advantage in terms of cargo space. Consequently, it provides 28.0 cu. ft. of storage with upright back seats. In comparison, the Jaguar I-pace offers 4.8 cu. ft. less storage room than the Cadillac luxury SUV.

The same theme is repeated with the seats folded, as the Lyriq’s maximum cargo space is 60.8 cu. ft. while the same for the Jaguar is 55.1 cu. ft.

4. More horsepower

Another reason to buy the Cadillac Lyriq is the extra horsepower. At first glance, the Jaguar SUV seems to provide more power at 394 horsepower and a whopping 512 lb-ft of torque. This is compared to the Lyriq’s 340 horsepower and 325 lb-ft torque. Nevertheless, these figures don’t account for the AWD Lyriq, which should produce about 500 horsepower.

Notably, there should also be an increase in torque, although it’s currently unclear whether it will offer more than the Jaguar or not.