May 17, 2022

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General Motors says it will produce an electric Chevrolet Corvette

General Motors says it will produce an electric Chevrolet Corvette

2020 Chevrolet Corvette

GM

Detroit – general motors General Motors President Mark Royce said Monday that the company will produce an electric Chevrolet Corvette next year, followed by an all-electric version of the popular sports car.

Royce said the automaker would continue to produce conventional models with internal combustion engines alongside electrified models. He declined to say when the all-electric Corvette would launch or whether the “electrified” model would be a conventional hybrid or a plug-in hybrid electric vehicle.

Royce told CNBC’s Phil Liebo during an interview on “Squawk Box”. “This is in addition to the outstanding performance that Chevrolet and Corvette have been known for for many years with our internal combustion engines.”

GM’s emphasis on an electrified Corvette comes amid mounting pressure from Wall Street for legacy automakers to better compete against the electric car maker. Tesla. It also comes a day ahead of GM competitor Crostown, Ford Motor, It is set to host an event for its electric F-150 Lightning pickup truck, which has received a lot of interest from investors and the media.

Rumors of an electric Corvette have been circulating for years, including President Joe Biden mentioning it last year during an advertising campaign.

General Motors has announced plans to sell exclusively electric vehicles by 2035. The company is working to launch 30 new electric vehicles globally by 2025 through 35 billion dollars Invest in electricity and independent by then.