Rethinking The Corvette’s Next Chapter
The electric vehicle market had strong momentum at the start of this decade, with Ford even expanding the Mustang lineup with an EV spin-off called the Mustang Mach-E. Reports also suggest that Chevrolet once considered expanding the Corvette lineup with two new all-electric models, an SUV and a two-door sports car. But apparently, the automaker may have already shelved those plans.
According to GM Authority, plans for the SUV, internally codenamed V224, and the two-door EV, codenamed V284, have been put on hold. A fastback spin-off was also reportedly in the works, though the publication is less certain about its existence. These vehicles were initially expected to launch between 2025 and 2026, but with this year nearing its end, none have materialized so far.
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Meeting a Tougher Market
The report also didn’t offer an explanation for why GM reportedly shelved the potential expansion. But given the slowing demand for EVs, especially in the U.S., these models could face less favorable market conditions. The Corvette SUV may be worth looking at, as this type of vehicle continues to see sustained demand. If the SUV version takes off, it could potentially generate revenue to support the Corvette lineup and further expansion plans. Lamborghini demonstrates this lineup dynamic with the Urus, which continues to be its best-selling model over its traditional supercar offerings. However, an all-electric powertrain could introduce additional uncertainties.
In fact, in the third quarter of this year, GM’s EV sales declined 62% compared to the same period last year. Sure, Q3 2025 saw a huge spike in sales as buyers rushed their EV purchases before the $7,500 federal EV tax credit expired, but slowing EV sales have also affected other brands. Ford even ended production of the all-electric F-150 Lightning, while Ram dropped plans for an all-electric 1500 in favor of a range-extended version.
What’s more interesting is that Corvette sales are up. The American sports car sold 6,585 units in Q3 2026, a 28.5% increase over the 5,123 units sold during the same period last year. This could tell the automaker that the current formula is working, and that now may not be the right time to commit resources to developing new models.
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GM Isn’t Giving Up on Electrification
However, these reports have not been confirmed by GM itself. One of the automaker’s latest electrification developments involves preparing its Lansing Delta Township Assembly plant for future hybrid production, which could help it capitalize on growing demand for hybrids in the U.S. The Corvette remains its sole hybrid offering with the Grand Sport X and the more extreme ZR1X, the latter capable of generating 1,250 horsepower.
To be fair, reports of the expansion plan date back to 2022, so jumping on the EV bandwagon may have been worth the risk at the time. Times are changing, and seeing the expansion plan reportedly shelved isn’t much of a surprise. However, Corvette chief engineer Tony Roma recently said that the nameplate will eventually go fully electric, but don’t expect it anytime soon.
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