(CTN News) – The new Chevy Corvette, which will be manufactured by General Motors, will be the most powerful version of the American sports vehicle that has ever been made, and it is not even close to getting there.

The automaker from Detroit announced on Thursday that the 2025 Chevrolet Corvette ZR1 will be powered by a twin-turbocharged, 5.5-liter, V8 engine that is capable of producing more than 1,000 horsepower.

The Chevy Corvette will also be able to produce 828 foot-pounds of torque, a first for the vehicle. Putting it in the same class as supercars that can cost hundreds of thousands of dollars.

During an event for the media, Tadge Juechter, who has served as Chevy Corvette’s executive chief engineer since 2006, stated that the vehicle “pulls like a goods train.” We anticipate that this automobile will be, by a significant margin, the quickest automobile that we have ever constructed.

For the 2019 model year, General Motors’ ZR1 was the company’s final example of the most powerful Chevy Corvette. It was equipped with a 6.2-liter V8 supercharged engine that was capable of producing 755 horsepower and 715 foot-pounds of torque.

It was stated by Juechter that the new ZR1 will “comfortably” have a top speed that is higher than the previous peak speed of the Chevy Corvette, which was 212 miles per hour.

Chevy Corvette ZR1 pricing information has been released by General Motors.

Which will include an additional “ZTK” performance package, will be made available closer to the time when the vehicle will begin production the following year. The starting price of the 2019 Corvette ZR1 was $121,000.

The ZR1 is the latest addition to what General Motors refers to as the “Corvette family.” This family includes the “everyman’s sports car” Chevy Corvette Stingray, which begins at approximately $70,000; the hybrid E-Ray; and the Z06 track vehicle, which costs approximately $112,000 more than the ZR1.

“We are pleased with the way things are progressing. According to Brad Franz, who is the director of marketing for Chevrolet automobiles and crossover vehicles, this is the next stage in that overall strategy.

GM has already stated that it will be releasing an all-electric Chevy Corvette, but it has not provided a date for its release. There has also been discussion for a number of years regarding the possibility of a Corvette SUV. The decision to comment on either vehicle was made by Franz.

Analysts on Wall Street have suggested that General Motors may improve their leverage of the Corvette brand by increasing the number of models and, to some extent, sales. At the end of 2019, an analyst at Morgan Stanley named Adam Jonas stated that a Corvette sub-brand could be valued anywhere from $7 billion to $12 billion for the company.

Chevrolet Corvette sold 34,500 units in the last two years.

During the year 2019, the automobile manufacturer reimagined the legendary sports car by relocating the engine from the front to the middle of the vehicle in order to improve both its performance and its handling.

A few of the models, like the ZR1, are low-volume automobiles that are intended to generate excitement about the brand and encourage drivers to purchase less expensive Corvettes.

The ZR1 reigns supreme in terms of range. The halo car is what it is. It will attract a great deal of attention to the automobile and will really assist in the sale of the other versions, according to Juechter. It is an integral component of the continuous business strategy to ensure that the product remains relevant over a relatively extended period of time.

The average transaction price of a Chevy Corvette has increased to almost $106,000 thanks to the contributions of other performance models.

Franz stated that it is anticipated that the price point would continue to increase as a result of the debut of ZR1 and the subsequent expansion in sales of the track-focused Z06, whose typical purchaser has a household income of $311,000.

It is anticipated that more sales of the hybrid Chevy Corvette, which begins at approximately $105,000, will also contribute to sales of the Corvette. Franz made the statement that General Motors intends to boost production of the E-Ray to 10% of overall production capacity, which is an increase from the existing levels of 2% to 3%.

Additionally, the performance trickle-down effect has been essential in maintaining two shifts at the single facility in Bowling Green, Kentucky, that is responsible for the production of Corvettes since the year 2019.

SOURCE: CNBC