In 2020, then-presidential candidate Joe Biden announced via a campaign video his desire for an all-electric Corvette from automaker Chevrolet. Since then, President Biden has shown significant support for EVs, going as far as making available $2.8 billion in grants allocated for 20 companies to produce batteries for EVs in the U.S., CNBC reported back in October 2022.
Back then, talk of an EV Corvette was just that — chit-chat, but now, an electrified version of the vehicle could soon be sitting in the driveways of consumers willing to go the extra mile and dish out big bucks. Keep reading to find out when Chevrolet will be releasing its first-ever electric hybrid Corvette and what they'll be selling for down below!
Will Chevrolet produce an all-electric Corvette?
In one of Biden's 2020 Democratic presidential campaign videos, he admitted, “I like to drive, I used to think I was a pretty good driver." He also added that he has driven a classic Chevrolet Corvette from the 1960s and is looking forward to driving "an electric Corvette that can go 200 mph."
At the time, it wasn't clear whether Biden was aware of what Chevrolet had in store or if it would be producing a lineup of EVs in an effort to keep up with its competition.
Now, it's safe to say Biden's dreams have been fulfilled. Not only will Chevrolet bring to market an an electrified Corvette — Corvette E-Ray, but it also has a few other electric vehicles in the pipeline, all of which are releasing in 2023. An "electrified vehicle" is one that uses “a range of technologies that use electricity to propel a vehicle," according to Carnegie Mellon University.
The automaker also plans of launching its 2025 all-electric Corvette in 2024.
How much will the hybrid Corvette cost?
Chevy's 2024 hybrid Corvette will be available in late 2023. The price for the electrified Corvette starts at $102,900 (for the 1LZ Coupe model) and jumps to $108,400 for the 2LZ Coupe. The third model, the 3LZ Coupe, will sell for $113,850. These numbers reflect the base price for the vehicles and don't include any additional features or upgrades.
What features will the hybrid Corvette have?
When considering the "cheaper" Corvette of the three, these are the features it comes equipped with:
- Removable roof panel
- Head-up display
- Leather-wrapped steering wheel
- Magnetic selective ride control
- Carbon ceramic brakes
- Rear camera mirror
- Technology inspired by the C8.R race car
Chevrolet also notes on its website that its hybrid Corvette is built with an LT2 V8 engine with 495 horsepower. It also features "eight equal‑length intake runners of 210 mm to maximize torque and airflow."
Why does Joe Biden support an all-electric Corvette?
Aside from the fact that he loves the "small worships," as he still drives his 1967 Corvette, Biden believes the U.S. could take the lead in the global auto market. He says that the move to electric vehicles could help the U.S. become a global auto power.
In additional to that, Biden is also a big advocate of green energy.
Is Chevrolet releasing other types of EV vehicles?
If your sight isn't set on a hybrid or all-electric Corvette, you'll still be able to get an EV vehicle from Chevrolet in 2023. The company notes on its website that it will soon release the following lineup of EV vehicles, one of which you can buy now.
- EV Blazer (available starting Summer 2023)
- EV Equinox (available Fall 2023)
- All electric Silverado (available Fall 2023 and can be reserved now)
- All-electric 2023 Bolt EUV (available now)