WASHINGTON: US car maker General Motors announced Monday that it is developing an electric version of its Chevrolet 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.

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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.