Barring dealership markups, the 2024 Chevrolet Corvette E-Ray is something of a supercar bargain at just over $100,000. Specifically, the hybrid 'Vette starts at $102,900, not including destination charges. Production hasn't started yet, but when it does, the first E-Ray is already sold for a whopping $1.15 million.
The first retail production electrified Corvette was hammered as sold for the seven-figure sum last weekend at the Barrett-Jackson Palm Beach auction. The winning bidder didn't buy the blue car at the event, however. That was a pre-production model, possibly the same blue E-Ray we've seen in Chevrolet's press photos. Once production begins, the buyer will configure the car however they like. And being the first, it will of course have the coveted 001 VIN plate. As for all that cash, all the proceeds from this auction go to DonorsChoose, a charity dedicated to helping teachers and public schools.
Gallery: 2024 Chevrolet Corvette E-Ray
"General Motors and Chevrolet are proud to join DonorsChoose on its mission of combatting inequality in school funding by providing underserved communities with the resources needed for a quality education," said Steve Majoros, chief marketing officer at Chevrolet. "The Corvette E-Ray is a special product for Chevrolet, and we are honored that the proceeds from the sale of VIN 001 will aid this organization in supporting students and teachers around the nation."
Having debuted in January, the E-Ray represents numerous firsts for Chevrolet's enduring sports car. This is the first Corvette to feature a hybrid powertrain, fusing the Stingray's naturally aspirated 6.2-liter V8 with a single electric motor. The combined power output is 665 horsepower, a bit less than the hyperactive Z06 but thanks to all-wheel-drive – another Corvette first – it's faster to 60 mph. It reaches that milestone in 2.5 seconds, officially making it the quickest production Corvette of all time. And with a 160-hp motor capable of turning just the front wheels for short spurts, this is also the first front-wheel-drive 'Vette.
Corvette Chief Engineer Tadge Juechter was on-site for the million-dollar auction, which was won by NASCAR stalwart and owner of Hendrick Motorsports Rick Hendrick. The E-Ray is the latest edition in a long line of VIN 001 cars Hendrick has purchased through Barrett-Jackson, but for those not keen on having the first model, look for other 2024 Corvette E-Rays to reach dealerships later this year.