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Why is it a hybrid and not a pure electric car

by SuperiorInvest

DETROIT – General Motors the future may be in pure electric vehicles, but it still needs its current models to pay the bills to invest in these new products.

That’s one of the reasons why the automaker revealed on Tuesday 2024 Chevrolet Corvette E-Ray – the first ever “electrified” or hybrid version of the famous sports car. It also features all-wheel drive, another first for the eighth-generation, or C8, Corvette.

The car — starting at about $104,000 when it goes on sale later this year — may surprise some customers because it’s a step toward full electrification, but it’s a unicorn in GM’s lineup. The Detroit automaker has discontinued all hybrids, including plug-in hybrids, to focus investment in purely electric vehicles.

So why make a hybrid Corvette? GM says there are several reasons, but generally speaking, the automaker was already developing the technology ahead of its more aggressive EV ambitions. It’s also a new market that should help the company test the waters of electrification for the iconic car.

“This is just a new opportunity for us as a company to showcase our engineering and our development of the entire C8 architecture,” said GM President Mark Reuss. CNBC’s Phil LeBeau. “General Motors and Chevrolet continue to increase the amount we deliver to Corvette customers.”

Reuss last year confirmed an the all-electric Corvette is comingbut GM has not announced the timing of the EV version.

It’s a Corvette

2024 Chevrolet Corvette E-Ray Hybrid Sports Car

GM

The C8 features an exclusive Corvette engine and architecture. Almost every GM vehicle shares platforms, engines and other features. For example, all GMs full-size trucks and SUVs they are on the same platform and have largely the same engines.

“There’s just incredible architecture underneath, and the architecture was planned and designed for multiple variants,” Reuss said.

The last GM vehicle to use modified Corvette architecture was the sixth-generation version with the short-lived Cadillac XLR, which was discontinued in 2009.

Spent capital

2024 Chevrolet Corvette E-Ray Hybrid Sports Car

GM

“It’s just part of our journey to what we’ve talked about before, that there are ‘electrified’ and then all-electric Corvettes, and we’re definitely on that path,” said Steve Majoros, Chevrolet vice president of marketing. media briefing. “But in the meantime, we have a lot of technology bandwidth that we can still unpack with the Corvette.

The hybrid system was specifically designed for the eighth-generation Corvette, according to Harlan Charles, Chevrolet Corvette product marketing manager. The battery system – a 1.9 kWh battery that is located between the seats – is recharged mainly through regenerative energy during coasting and braking, as well as during normal driving.

The system allows the Corvette to pull off quietly instead of making the sound of a roaring V8 engine, improving acceleration and potentially the vehicle’s fuel economy. GM declined to release mpg expectations that pro the regular C8 gets 19 mpg combined.

Corvette family?

Future all-electric Corvettes may change more than just the vehicle’s powertrain. Automotive newsCiting industry forecasters last year, GM was expected to introduce an all-electric SUV version of the Corvette around 2025.

A Corvette SUV has been speculated for years following the success of other sports car manufacturers such as Porsche, Maserati and others who have successfully expanded into such vehicles. Ford Motor he also found success using the naming, badging and features of his Mustang all-electric Mustang Mach-E.

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Ford has gone so far as to say that the Mach-E is the reason the automaker can continue produce V-8 versions car. GM could do something similar.

A GM spokesman declined to speculate on the Corvette expansion, citing that the company had seen the news and “will not engage in speculation.”

In late 2019, Morgan Stanley analyst Adam Jonas said a Corvette sub-brand could be worth $7 billion to $12 billion for the automaker.

No plug-ins

GM’s Reuss has made it clear that the company has no interest in plug-in hybrid electric vehicles since then discontinued the Chevrolet Volt in early 2019. He described such vehicles as too expensive to produce and as transitional as part of the push for all-electric cars and trucks.

“There’s no plug-in here,” Reuss said. “This is a truly performance-oriented electrified system.”

2024 Chevrolet Corvette E-Ray Hybrid Sports Car

GM

In addition to the company giving up on PHEVs, officials said the added weight of additional batteries and plug-in technology would reduce the vehicle’s performance. An all-electric Corvette would be heavier, but would benefit from the near-instant torque and additional driving dynamics of an EV to offset the weight increase.

“The mission of this vehicle was performance, performance, performance,” said Mike Kociba, Corvette’s chief development engineer. “Every kilogram or pound had to work its way from a mass perspective. … It hurt performance, plain and simple.”

– CNBC Phil LeBeau contributed to this report.

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