Fresh off of making its public debut at the 2018 Geneva Motor Show, the Jaguar I-Pace now has a price to go with the name and the face. Jag’s new electric crossover has now been priced at $69,500 in the U.S., and that’s before local and federal government incentives. Proving that it’s more than just a fancy Jaguar with an all-electric powertrain, the I-Pace can now be had at a price tag that’s $10,000 cheaper than the model Jaguar used as its benchmark: the Tesla Model X.

For a brand that’s entering a segment dominated by one make and model, establishing a more affordable price tag is a good way to get people’s attention. That’s essentially what Jaguar did with the I-Pace SUV. Now, those who only had eyes for the Tesla Model X will now have to make some important decisions. Is it still worth it to buy a base Model X for $79,500 when there’s a newer option that sells for $10,000 less? That now becomes a legitimate question to ask because the “newer option” offers more than just a cheaper price tag.

Take performance, for example. The I-Pace gets its juices going courtesy of a 90 kWh battery. It can do 240 miles on a single charge, and while that figure has not yet been properly rated, it’s already a hair above the Model X’s own 237-mile range claim. The traditional power numbers also lean towards the new Jag. It has a total of 394 horsepower and 512 pound-foot of torque at its disposal. The Model X 75D? 328 horses and 387 pound-foot of torque. The I-Pace also beats the Model X in acceleration, hitting 60 mph from an idle position in just 4.5 seconds. That’s 0.4 seconds quicker than the Tesla.

Give Jaguar credit for this one other thing. The company recognized the Model X as the car-to-beat in this segment. There are certainly no arguments there because Tesla has cornered the premium all-electric vehicle market all to itself. Jaguar knew this, so it’s trying to beat Tesla in its own game. Turns out, that strategy also includes outfitting the I-Pace with the technology that will make it the first Jaguar to receive over-the-air software updates. That’s on top of having its own lineup of connected apps that are similar to what you can get with a Model X.

Don’t think for one second that Jaguar is going at this without any intentions of unseating the incumbent. The British automaker is betting big on the I-Pace to become a significant threat to the Model X’s current monopoly. By the looks of thing, it’s pushing all the right buttons to the point that Tesla should be concerned about the looming threat that’s coming. If for nothing else, that threat is packing serious claws.

References

Read our full review on the 2019 Jaguar I-Pace.

Read our full review on the 2016 Jaguar I-Pace Concept.

Read our full review on the 2018 Tesla Model X.

Read more Jaguar news.

Read more Geneva Motor Show news.