Chevrolet confirms a hybrid and all-electric Corvette are on the way

• General Motors is working on hybrid and electric Corvette sports cars.
• The hybrid model will be available as early as next year, GM said.

A hybrid Chevrolet Corvette sports car is coming next year, followed by a fully electric model sometime after that, General Motors president Mark Reuss announced on Monday.

In a LinkedIn post announcing the new models, Reuss did not specify whether the "electrified" Corvette arriving in 2023 would be a conventional hybrid or a plug-in hybrid. Plug-in hybrids have larger batteries and can travel short distances without using any fuel.

Judging by a teaser video of a hybrid prototype spinning out on snow, at least one of the upcoming electrified Corvette variants may have all-wheel drive, which would be a first for the model. High-performance electric cars often have two or more motors driving all four wheels.

More details, along with the names of the new Corvette models, will come at a later date, Reuss said. GM intends to sell electric and electrified Corvettes alongside traditional, gas-powered versions.

Sports cars such as the Corvette may be excellent candidates for electric powertrains, which deliver instantaneous, forceful acceleration. Electric two-door sports cars aren't really a thing today, save for a few companies making extraordinarily expensive supercars.

The announcement comes as the global auto industry shifts course to better compete with Tesla, the dominant electric-vehicle maker, which has seen its valuation skyrocket to $1 trillion in the span of just a few short years. GM intends to phase out sales of fossil-fuel vehicles by 2035.