Mercedes-Benz just announced the pricing of its all-electric luxury sedan, the EQS, and not surprisingly, it starts north of $100,000. What is surprising, though, is that the starting price is cheaper than a gas-powered S-Class.

When it arrives at dealerships this fall, the EQS will start at $102,310. By comparison, the 2022 Mercedes-Benz S-Class starts at $111,350. This is a rare case of an electric vehicle selling cheaper than its gas equivalent.

Mercedes is offering three trim levels: Premium, Exclusive, and Pinnacle. Each trim comes in two versions, depending on the size of the infotainment screen: the 450+ sedan with a 12.8-inch portrait touchscreen; or the 580 4MATIC (yes, I know, these brand names are inscrutable) with the 56-inch Hyperscreen. Both versions of each trim come with Mercedes’ MBUX voice-activated assistant as standard.

Here is a glance at the features that come with each trim level:

As we’ve noted previously, Mercedes is interested in testing out whether customers are willing to pay more for added features, even after buying the vehicle. The company is offering various add-ons, like an increased steering angle for the rear wheels, which customers can pay to unlock and then receive as an over-the-air software update. It’s easy to see how the initial cost can rise steadily as owners decide they want more unique features.

Still, it’s clear that Mercedes is trying to make a statement by pricing the EQS cheaper than the S-Class. The company has said it wants to shift to EV-only sales by 2030. To get there, it will need to price its vehicles in a way that will make its wealthy customers think twice about replacing their old S-Class with just another gas-powered vehicle.