GM says it will produce electric Chevrolet Corvettes

DETROIT – General Motors will produce an electrified Chevrolet Corvette next year, followed by a fully electric version of the iconic sports car, GM President Mark Reuss said Monday.

Reuss said the automaker will continue to manufacture traditional models with internal combustion engines along with the electrified models. He declined to say when the all-electric Corvette would be released, or whether the “electrified” model would be a traditional hybrid or plug-in hybrid electric vehicle.

“We want an electrified Corvette next year so it’s coming very quickly,” Reuss told CNBC’s Phil LeBeau during an interview on “Squawk Box.” “This is in addition to all the amazing performance that Chevrolet and Corvette have been known for for many, many years with our internal combustion engines.”

GM’s confirmation of the electrified Corvettes comes amid mounting pressure from Wall Street to get older carmakers to compete better with EV industry leader Tesla. It also comes a day before GM’s rival across town, Ford Motor, is scheduled to host an event for its electric F-150 Lightning pickup, which has garnered significant attention from investors and the media.

Rumors of an electric Corvette have been swirling for years, including mentions of President Joe Biden, a Corvette owner.

GM has announced plans to sell exclusively electric vehicles by 2035. The company is in the process of releasing 30 new electric cars globally by 2025 through a $ 35 billion investment in electric and autonomous vehicles by that time.

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