GM confirms electric Corvette is coming

Ford may have a big week coming up with the Lightning, but General Motors is stealing some of its thunder. In a tweet on Monday morning, Chevrolet announced it will be releasing a “fully electric version” of its Corvette sports car. Yahoo Finance's Pras Subramanian breaks it down.

Video Transcript

- OK, so as we mentioned earlier, we gotta talk about this Corvette.

- Muscle.

- All right, we got the tweet from Mary Barra because, at the end of the day, we've seen some of these sportscar plays within the EV landscape, whether it's the Tesla Roadster, whether it's even the Mustang Mach-E that came-- that they came out with, that Ford had come out with. Now GM entering the chat, and there you're seeing, "That's it. That's the tweet." Electrified Corvette, CEO at GM Mary Barra says. What do you think?

PRAS SUBRAMANIAN: It's interesting the timing, right? It's like stealing thunder from Ford's big week, right? So Ford has the big launch tomorrow. So GM's like, hey, check out this new Corvette, all-electric. Oh, and by the way, there's no other sports cars in that, like, price range that are electric. You've gotta pay millions of for a Lotus Evija, Rimac Nevera, cars like that that are fully electric, high-end sports cars.

The Corvette's sort of kind of coming into this field on its own. Porsche has the 718. They're gonna go all-electric with that in 2025. That'll be the only real competitor in that price range, in my opinion, and not till 2025. The Corvette EV's coming out next year along with a hybrid version that'll be even more powerful, supposedly.

- OK, I read the press release, and it said electrified.

PRAS SUBRAMANIAN: Yeah.

- It didn't say fully electric. Is there-- are they--

PRAS SUBRAMANIAN: So Mark--

- --splitting hairs there?

PRAS SUBRAMANIAN: --so Mark Reuss went on LinkedIn, the GM president, and said, there's gonna be a fully electric version and an electrified version. And what he means by that is-- electrified means hybrid, so really high-power V8 with another motor to really amp up that performance going after the Ferraris and McLarens of the world. I mean, that car's gonna be for real.

- All right, making sense of some of the announcements here today for us, Pras Subramanian, Yahoo Finance's own autos reporter. We appreciate it.