The landmark Chevrolet Corvette E-Ray hybrid has been sold for more than 10 times its listing price of $104,295 at $1.1 million at the Barret-Jackson Palm Beach auction. The fastest Chevy on record, it wasn’t purchased at a premium just for the bragging rights—all proceeds were allocated to the Donors Choose charity, which assists with the purchase of public-school supplies.
The buyer, Rick Hendrick is a NASCAR team owner and notorious excessive bidder at various charity auctions. His car collection boasts another high-ticket item—the first mid-engine Corvette Z06 which he acquired last year for a cool $3.6 million.
Hendrick’s newest addition, the Corvette E-Ray shares its widebody styling with the Z06. A gas-electric hybrid, the vehicle isn’t powered solely by the conventional howling V8. The E-Ray showcases a 655 hp all-wheel-drive hybrid powertrain that bears an electric motor handling the front wheels and an additional motor supporting its 6.2-liter V8.
The vehicle can accelerate from 0 to 60 mph in 2.5 seconds and boasts a “stealth mode” which allows the E-Ray to function in a fully electric manner for short distances. It covers a quarter mile in 10.5 seconds, distinguishing it as the fastest Corvette ever made.
Unable to charge from a plug, the sports car’s 1.9 kilowatt-hour battery pack permits it to run under 45 mpg in the all-electric stealth mode when completely charged by its regenerative braking system, and the surplus of energy produced by the engine.
According to Chevrolet, the hybrid technology is chiefly intended for performance.
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