GM’s Chevy Corvette Will Go Electric In 2023 In EV Push

GM (GM) is continuing its push toward electification and will introduce one of its most popular vehicles in an electric version next year – the Chevy Corvette.

GM President Mark Reuss made the announcement Monday on CNBC’s “Squawk Box,” saying the company will remain true to the iconic muscle car's roots by continuing to produce internal combustion engine-powered Corvettes alongside its electric models.

“We will have an electrified Corvette next year, so it’s coming very quick," Reuss said. "This is in addition to all of the great performance that Chevrolet and Corvette have been known for, for many, many years with our internal combustion engines.”

It was unclear exactly when an all-electric version of the Corvette would be released, but Reuss indicated that some form of an electric Corvette would be launched in 2023 without disclosing whether it would be fully electric or a hybrid configuration.

The Corvette will be based on GM's new Ultium EV platform, Reuss wrote in a LinkedIn post. He teased “details and names to come at a later date.”

GM has announced that it plans to sell all electric vehicles by 2035 and release 30 new EVs by 2025 through an investment of $35 billion in electric and autonomous technologies.

The news of the electric Chevy Corvette comes on the heels of Ford’s official production launch of the 2022 F-150 Lightning pickup truck that is slated for Tuesday. GM’s Chevy Silverado EV pickup truck isn’t set to debut until 2024.

As of Monday at 10:44 a.m. ET, shares of GM were trading at $39.04, down 80 cents, or 2%.