General Motors is close to launching a new Chevrolet Corvette, which will be partially electric-powered and partially gas-powered, according to a top company official Monday.
In a statement posted on LinkedIn, President Mark Reuss stated that the automaker will begin selling the hybrid Corvette “as soon as next year.” Reuss also stated that GM will sell a fully-electric Corvette in the near future.
An electrified vehicle is generally a hybrid gas-electric or plug-in rechargeable vehicle. However, more information on the vehicles will be available in the future. As gas prices in the United States have risen to over $4 per gallon, electric vehicles are gaining popularity. In addition, electric Corvette fans are increasingly looking for them.
GM has been producing gas-guzzling trucks and cars for the majority of its existence. The company plans to release more than 30 electric vehicles in the next three-years and to be carbon neutral by 2040.
GM hopes to increase sales with the Corvette, one of many electric cars. GM already sells the electric-powered Bolt, a compact hatchback that is made in Michigan. In January, GM announced that it would sell an Electric Chevrolet Silverado pickup-truck.
The pickup will be available for purchase in fall 2023 at a starting price around $40,000 and can travel 400 miles on a single charge. It can also be custom-designed to have power outlets that can charge a second vehicle. The fully electric truck is part GM’s $35 billion plan to invest in electric and autonomous vehicles over three years.
For decades, the Corvette has been a beloved vehicle of General Motors. Last August, President Biden talked about how he had spoken with Mary Barra, General Motors CEO, about wanting to test drive an electrified Corvette when it’s built.
GM hopes that the new Corvette and its overall push into electric vehicles will help boost lagging sales. GM has sold more vehicles to Americans than any other automaker for nearly a century. Last year, Toyota sold 114,000 more cars that its competitor.
Earlier this month, GM announced with Honda that they are co-developing affordable electric vehicles using GM’s next generation Ultium battery technology. A compact Chevrolet Equinox SUV will be available for purchase at around $30,000. It is expected to be available in North America by next year.
In January, GM announced that it would spend almost $7B to convert a factory into electric pickup trucks and build a new battery plant. To meet the growing demand for electric vehicles, GM is currently building two battery plants in Ohio.