2023 Cadillac Escalade-V with 682-hp V-8 priced at nearly $180,000

Cadillac plans to launch a high-performance variant of the popular Escalade SUV this summer that starts at nearly $180,000. It will become the most expensive Cadillac, or about $60,000 more than the highest-priced 2022 Escalade trim, the Sport Platinum.

The 2023 Escalade-V, the first-ever Cadillac V-Series SUV, will be built in small volumes, Cadillac said.

The SUV packs a supercharged, hand-built 6.2-litre V-8 engine with a 10-speed automatic transmission — a combination that produces 682 hp and 653 pound-foot of torque.

The V-Series branding means that the full-size SUV will be capable of zipping from 0 to 60 mph in 4.4 seconds. But the Escalade-V is meant for everyday use, not the track use for which Cadillac V-Series Blackwing models are known.

"From a racetrack standpoint, I think most people understand that as a full-size SUV with a centre of gravity that's so high, they're not really designed for true performance and true track experiences."

Cadillac has prioritized Escalade output during the chip shortage, making it the brand's top-selling U.S. nameplate in 2021 and the first quarter.

Cadillac is launching the Escalade-V as it prepares to ramp up an electric vehicle portfolio. Cadillac began limited production of the Lyriq electric midsize crossover in March, and the brand plans to go all-electric by 2030.

Dealers will sell the Escalade-V through traditional allocations. Cadillac will not open a reservation system for the SUV.

The V-Series will also be available on the longer Escalade ESV. Cadillac has not released pricing for the Escalade ESV V-Series, but the traditional ESV starts at about $4,000 more than the Escalade.

The traditional Escalade will receive minor updates, such as additional colours, for the 2023 model year, Schiavone said.

Greg Layson of Automotive News Canada contributed to this report.