GM announces it will make electric Corvette

"We will offer an electrified Corvette as early as next year," said the Detroit-based auto manufacturer in a statement. "Details and names to come at a later date."

"Yes, in addition to the amazing new Chevrolet Corvette Z06 and other gas-powered variants coming, we will offer an electrified and a fully electric" Corvette in the future, Mark Reuss, GM president said on the professional site LinkedIn.

The announcement comes as traditional automakers are in a race to produce more electric vehicles to compete with Tesla.

GM has set a goal of overtaking Tesla in electric vehicle sales, and to achieve that, it plans to invest $35 billion in electric and autonomous vehicles by 2025.

Although very popular with major manufacturers, electric vehicles currently only represent a small percentage of total car sales worldwide.

In the electric sector, GM collaborates with Japanese car maker Honda. At the beginning of April, they announced that they would co-develop a new line of electric vehicles at "affordable" prices, with production due to begin in 2027.