GM reveals new Chevy Corvette E-Ray hybrid sports car, starting at over $104,000

DETROIT – General Motors’ first-ever “electrified” Corvette will be available later this year starting at more than $104,000, the automaker said Tuesday.

The vehicle also will be all-wheel drive, another first for the quintessential American sports car.

The carmaker said the E-Ray, which GM first confirmed to CNBC last year, will be the quickest production Corvette ever. It will achieve 0-60 mph in 2.5 seconds and a quarter mile in 10.5 seconds – similar to some supercars and the current Corvette Z06 track car.

“It’s a testament to innovation that this car has represented throughout its 70-year legacy and certainly represents the future of what this car is capable to deliver going forward,” Scott Bell, vice president of Chevrolet, said during a briefing.

An all-electric Corvette is expected at some point, but GM has not announced timing for the EV version. The Detroit automaker has said it plans to exclusively offer all-electric vehicles by 2035.

The E-Ray’s hybrid system features an electric motor on the front axle that provides 160 additional horsepower and 125 pound-feet of…