Chevrolet unveiled the first electric Corvette in January in the form of the 2024 Corvette E-Ray.
It will go on sale this year, but the rights to the first copy, the car with a VIN ending in 001, have already been sold.
The rights went under the hammer at the Barrett-Jackson auction, which took place over the weekend in West Palm Beach, Florida, and the final price paid was $1.1 million. That’s more than ten times the car’s asking price of $104,295.
All proceeds from the sale will be donated by Chevy to DonorsChoose, a charity that allows individuals to donate directly to public school classroom projects.
2024 Chevrolet Corvette E-Ray
Likewise, the rights to the first 2023 Corvette Z06 were auctioned for $3.6 million last year, and before that the rights to the first generation C8 Corvette were sold for $3 million. In both cases, the buyer was Rick Hendrick, president and CEO of Hendrick Automotive Group. The identity of the most recent buyer has not been released.
The Corvette E-Ray shares the same wide body design as the Corvette Z06, but has a very different powertrain. The car combines the Corvette Stingray’s 6.2-liter V-8 with a single electric motor that makes a combined 655 hp. The engine was mounted on the front axle, making it the first all-wheel drive Corvette.
While the Z06 has a peak output of 15 hp, the E-Ray is 0.4 seconds faster, sprinting from 0-60 mph in just 2.5 seconds. It also does the quarter mile in 10.5 seconds, a tenth faster than the Z06.
A convertible body is also available, starting at $111,295. It is possible that the rights to the first E-Ray convertible will also go under the hammer.
