Cadillac announced May 22 what had been expected for its EV future: An all-electric Cadillac Escalade IQ, to be unveiled later in 2023 for a likely production start in 2024.

This will be the third all-electric model line under the  "IQ" nomenclature, in addition to the LYRIQ and CELESTIQ electric vehicle model lines unveiled in 2021 and 2022, respectively. The LYRIQ, Cadillac's first EV model to be delivered to customers earlier this year, is a compact crossover, and the CELESTIQ an extended luxury sedan.

The Escalade, which debuted in 1998,  has been the top-selling U.S. luxury SUV brand over the last two decades.

The Escalade IQ will likely share the power and range of the GMC Hummer SUV, which has up to 830 horsepower and 280 miles range on a single charge, according to a report in Car & Driver.