General Motors (GM) moved one step closer to expanding its fleet of electric vehicles on Wednesday with its rollout of the Cadillac Lyriq – an all-electric SUV that will compete alongside Tesla’s Model X.

The 2023 Lyriq features a 12-module, 100 kWh battery pack, and Ultium Platform to deliver an estimated 340 horsepower and 440 Nm of torque.

At full charge, the SUV is estimated to have over a 300-mile driving range, GM said. Tesla's Model X has a 340-mile driving range and 1,020 peak horsepower.

The EV will also offer fast DC-charging capabilities with about 76 miles of range added in about 10 minutes, according to the automaker. At-home charging would allow for up to 52 miles of range in about an hour of change, GM said.

Other features of the Lyriq include Regen on Demand and One-Pedal Driving technologies, which utilize regenerative braking to slow the vehicle to maximize efficiency.

A 33-inch LED display is integrated into the SUV that illuminates in one billion colors, and the Active Noise Cancellation system keeps the vehicle quiet within.

Hands-free driving is provided through GM’s Super Cruise, and the exterior of the Lyriq has slim-line LED headlamps with choreographed lighting sequence.

“Lyriq represents a clean-sheet design that sets the standard for the future of Cadillac,” said Andrew Smith, executive director of Cadillac Design, said in a statement. “The objective I gave my team was to design the Lyriq with the level of detail that they would a show car. The customer should feel like they’re driving in the future.”

The 2023 Lyriq SUV is available in Satin Steel Metallic or Stellar Black Metallic with a Sky Cool Gray or Noir interior.

Customers can begin placing reservations for the 2023 Cadillac Lyriq in September 2021. Initial availability of the SUV will start in the first half of 2022, GM said.

The SUV will have a starting price of $59,990. The Model X has a base price of $89,990.

General Motors has made a commitment to deliver 1 million electric vehicles globally by 2025. It also plans to introduce 30 EVs worldwide by the end of 2025, with more than two-thirds of those vehicles to be available in North America under the Cadillac, GMC, and Chevy brands.

Production will be at GM’s assembly plant in Spring Hill, Tennessee, in the first quarter of 2022.

Shares of GM were trading at $56.92 as of 1:58 p.m. ET, up $1.15, or 2.07%.

Perhaps the starkest example of Cadillac’s next iteration of brand styling is its distinctive black crystal grille. The exterior lighting is a major technological breakthrough, allowing Cadillac to finally deliver on the promise of truly vertical lamps. General Motors