Cadillac fully debuted its all-electric Lyriq on Wednesday, saying that it will start at $59,990, making it a bit of a weird value proposition for buyers also considering a Tesla Model Y or Model X. Cadillac it would go into production early next year.

The car you are looking at is the production version of the Lyriq, as opposed to . The range and power numbers are in line with what Cadillac has already announced.

At launch, LYRIQ will be available with premier technologies and stirring performance capabilities enabled by the vehicle’s dedicated electric architecture. A 12-module, 100 kilowatt-hour battery pack and a rear-wheel-drive Ultium Platform deliver a Cadillac-estimated 340 horsepower and 440 Nm of torque — and a Cadillac-estimated over 300 miles of range with a full charge.

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LYRIQ also offers high-speed DC fast charging for public stations at 190 kW, enabling customers to add an estimated 76 miles of range in about 10 minutes2 of charging time. For home charging2, LYRIQ offers a segment-leading 19.2 kW charging module, which can add up to 52 miles of range per hour of charge3.

Super Cruise and the 22-inch wheels will be optional.Standard are things you’ve come to expect from EVs: One-pedal driving, a giant screen upfront, some kind of noise cancellation system, and a grille purely for aesthetics.

This is, in short, modern Cadillac, playing catch up to a rival that is years ahead of it, after Cadillac has already spent years playing catch up with its ICE cars that aren’t Escalade. These numbers are all basically competitive with the Model Y, though I’m a little puzzled why Cadillac thinks rear-wheel drive is good enough, when Model Y, of course, comes standard with all-wheel drive.

And the Lyriq is almost $10,000 more expensive, as GM EVs, like Tesla EVs, are no longer eligible for the $7,500 federal tax credit. Good luck, Cadillac!