The Chevy Corvette E-Ray hybrid sports activities automotive begins at $104,000

DETROIT- General Motors’ The first-ever “electrified” Corvette will be available later this year starting at more than $104,000, the automaker said Tuesday.

The vehicle will also have all-wheel drive, another first for the quintessential American sports car.

The automaker said the E-Ray, which GM first confirmed to CNBC last year, will be the fastest production Corvette ever. It will do 0-60mph in 2.5 seconds and a quarter mile in 10.5 seconds – similar to some supercars and the current Corvette Z06 racer.

2024 Chevrolet Corvette E-Ray hybrid sports car

GM

“It’s a testament to the innovation this car has represented throughout its 70-year legacy and certainly represents the future of what this car can deliver going forward,” Chevrolet vice president Scott Bell said during a briefing.

An all-electric Corvette is expected at some point, but GM hasn’t announced a timing for the EV version. The Detroit automaker has announced that it will only offer fully electric vehicles by 2035.

The E-Ray’s hybrid system features an electric motor on the front axle that delivers 160 additional horsepower and 125 pound-feet of torque. It offers a faster start than a conventional internal combustion engine.

2024 Chevrolet Corvette E-Ray hybrid sports car

GM

Overall, GM said the E-Ray produces a combined power output of 655 horsepower from both the electric motor and the small-block V-8. It will be available as a coupe and convertible.

The E-Ray is expected to be the only hybrid in GM’s lineup when it arrives in dealer showrooms. GM phased out hybrid and plug-in hybrid electric vehicles, or PHEVs, over the years to focus solely on all-electric cars and trucks.

Officials said the E-Ray was developed prior to such plans, in conjunction with development of the eighth-generation Corvette, or C8, which debuted in July 2019. The car was the first Corvette to feature a mid-engine design instead of the engine in the front of the vehicle.

2024 Chevrolet Corvette E-Ray hybrid sports car

GM

The hybrid system was developed specifically for the eighth-generation Corvette, according to Harlan Charles, Chevrolet Corvette’s product marketing manager. The battery system is mainly charged using regenerative energy from coasting and braking as well as during normal driving.

GM chose a hybrid Corvette over a PHEV because it offered better overall performance for the car.

“The mission of this vehicle was performance, performance, performance,” said Mike Kociba, senior Corvette development engineer. “Every kilogram or pound had to be earned en masse. … It hurt performance, plain and simple.”

Read more about electric vehicles from CNBC Pro

The E-Ray coupe starts at $104,295, followed by the convertible version at $111,295. Price is just under $106,695 for the Corvette Z06. Prices include mandatory destination and delivery fees.

GM unveiled the E-Ray on its 70th anniversary as the Detroit automaker unveiled the original Corvette concept car at the Motorama auto show in New York City.

The E-Ray is expected to be one of eight new or facelifted models for Chevrolet in 2023. Others include all-electric versions of the Silverado pickup and Equinox and Blazer crossovers, as well as the gas-powered Colorado and Trax.

GM announces electrified Corvette

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