Calgary Tribune - GM announces it will make electric Corvette

NYSE - LSE
CMSC 0.95% 20.04 $
NGG 2.67% 85.1 $
RYCEF 0.59% 16.94 $
RBGPF 0% 70.49 $
CMSD 0.87% 20.035 $
VOD 4.41% 16.34 $
RIO 3.73% 84.78 $
BCC 5.23% 78.94 $
BCE 2.86% 21.145 $
GSK 4.85% 51.185 $
RELX 4.28% 41.16 $
BTI 2.94% 62.745 $
AZN 2.93% 189.43 $
JRI 1.65% 11.55 $
BP -4.9% 45.365 $
GM announces it will make electric Corvette
GM announces it will make electric Corvette / Photo: Michael M. Santiago - GETTY IMAGES NORTH AMERICA/AFP

GM announces it will make electric Corvette

US car maker General Motors announced Monday that it is developing an electric version of its Chevrolet Corvette.

Text size:

"We will offer an electrified Corvette as early as next year," said the Detroit-based auto manufacturer in a statement. "Details and names to come at a later date."

"Yes, in addition to the amazing new Chevrolet Corvette Z06 and other gas-powered variants coming, we will offer an electrified and a fully electric" Corvette in the future, Mark Reuss, GM president said on the professional site LinkedIn.

The announcement comes as traditional automakers are in a race to produce more electric vehicles to compete with Tesla.

GM has set a goal of overtaking Tesla in electric vehicle sales, and to achieve that, it plans to invest $35 billion in electric and autonomous vehicles by 2025.

Although very popular with major manufacturers, electric vehicles currently only represent a small percentage of total car sales worldwide.

In the electric sector, GM collaborates with Japanese car maker Honda. At the beginning of April, they announced that they would co-develop a new line of electric vehicles at "affordable" prices, with production due to begin in 2027.

C.Wilson--CT