General Motors cut price of Cadillac Lyriq in China after Volkswagen’s discount last week

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US carmaker General Motors on Monday cut the starting price for the Cadillac Lyriq in China by almost 14%, joining Volkswagen in a new round of electric vehicle price cuts. 

The Lyriq, a luxury crossover based on GM’s Ultium EV architecture, is now priced from 379,700 yuan ($52,466) from 439,700 yuan ($60,784) previously, according to GM’s China website.GM also offered an additional discount equivalent to almost $2,500 for Lyriq buyers who put down a deposit in China before the end of August.

Volkswagen’s joint venture with state-owned automaker FAW on Friday announced discounts of between 8% and almost 27% on its ID-series of electric vehicles. Its other joint-venture with state-owned automaker SAIC offered a limited time discount on the ID.3 hatchback, another VW EV, by the equivalent of just over $5,100, putting its starting price below the Qin EV from BYD.