Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Vance says India-Pakistan conflict ‘none of our business’...
Trump pushes tax hikes for wealthy as ‘big,...
Trump’s tax hike proposal is ‘déjà vu’ of...
Pope Francis-era deal with Chinese Communist Party again...
Trump says 80% tariff on China ‘seems right’...
Massachusetts suspect charged with attempting to assassinate a...
Pakistan says it has struck military targets inside...
Mexico sues Google for changing ‘Gulf of Mexico’...
Denmark PM says ‘you cannot spy against an...
Trump inks trade deal with UK, previews China...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Retiring Corvette ‘godfather’ on EVs, spinoff and a performance SUV

by admin August 7, 2024
August 7, 2024
Retiring Corvette ‘godfather’ on EVs, spinoff and a performance SUV

DETROIT — Tadge Juechter’s first “taste” of Corvette working at General Motors was to research whether there were enough Americans who could afford a new high-performance model of the famed sports car, known as the ZR1, back in 1985.

Nearly 40 years later, not only are there enough people to afford such a vehicle, but GM’s new 2025 Chevrolet Corvette ZR1 stands as something of a coup de grace for Juechter, who retired Wednesday after roughly 47 years with the Detroit automaker.

The so-called “godfather” of the modern Corvette retired roughly a week after helping to introduce the new 2025 Corvette ZR1 — the most powerful and fastest version of the car ever produced.

“One thing all the great Corvettes of recent years and decades have had in common is you. Your knowledge, your skills, your hard work, your passion,” GM President Mark Reuss told Juechter when revealing the vehicle. “Thank you for making Corvette the glorious American sports car it remains. Thank you for making our company better.”

Reuss announced last month that all 2025 Corvettes and beyond will feature a silhouette profile of Juechter’s head etched in window locations and the front tunnel reinforcement panel beneath every Corvette 

CNBC interviewed Juechter, 67, ahead of his retirement, touching on his career as well as the business of Corvette, including plans for an all-electric version and the potential of spinning off the brand and for an SUV.

GM has said an all-electric Corvette is coming, but it hasn’t given a time frame. Last year, the automaker introduced a hybrid version of the car called the E-Ray.

Juechter wasn’t inclined to disclose any details of an upcoming Corvette EV, but he believes the E-Ray proves GM can successfully electrify Corvette.

“Electrification can be a wonderful contributor to cars. I embrace efficiency. … We’re passionate about efficiency in everything that we do,” he said. “Efficiency makes a good sports car, too. So, I think electrification is just another technology, and we have to figure out how to play that technology in a way that resonates with our customers.

“E-Ray is the first step. We think long term, you know, decades long term. Yes, General Motors committed to 100% electrification, and it’s our job as engineers to figure out what’s the way to get there. We’re businesspeople, too. We have to bring our customers with us.”

Juechter said there’s been some “natural push back” to electrified Corvettes from the sports car’s fan base.

“We’re hoping maybe the E-Ray warms them to maybe this electrification thing’s not so bad,” he said.

Wall Street analysts have said GM could better leverage the Corvette brand by expanding models and, to an extent, sales. In late 2019, Morgan Stanley analyst Adam Jonas said a Corvette sub-brand could be worth between $7 billion and $12 billion.

That has raised questions around whether Corvette would be better spun off from parent GM.

But Juechter doesn’t necessarily believe that’s the way to go.

“I don’t know if we need to spin off. I mean, Corvette’s at the heart of Chevrolet. It’s a pure business play. If you’ve got this brand equity, you can just keep it at home or you can choose to try to monetize it and put it outside.

“General Motors historically hasn’t done that. We embrace our important franchises, and this is a really important franchise,” he said.

Regarding leveraging the brand for future products such as an SUV, which has been under consideration for several years, that’s a little different, Juechter said, declining to confirm that any such plans or considerations exist.

“How you leverage it. That’s a question for the future. You see the models we’re rolling out. We’re making the maximum of this mid-engine architecture. And, you know, I’ve made no secret I work on EVs, too, and trying to bring some of the performance spirit into the EV space. How that gets applied in the future and how it gets branded, that’s a story for another day,” he said.

The concept of a performance car brand producing a SUV or crossover would have been blasphemous years ago, but several brands such as Porsche, Lamborghini and even Ferrari have done so as consumer preference has moved away from the traditional car model.

Juechter has been a part of four separate generations of Corvette — from the fourth-generation ZR1 to the new mid-engine, eighth-generation of the sports car.

The first Corvette he purchased for himself was the sixth-generation 2006 Corvette Z06.

“It’s hard to pick a favorite. It’s like what’s your favorite child. Actually, it’s harder than who’s your favorite child. Anyway, I won’t get into parenting, but every one of these cars we pour our heart and soul into and they all have their specialness about them.

“I don’t know. I can’t pick one. If I’m forced to pick one, I say money talks. I bought that Z06. I put my own money down on that car. … That car was very special to me,” Juechter said.

Juechter said he wasn’t planning on purchasing the Corvette, but he saw a “fully decked out one” coming off the line at the Corvette plant in Bowling Green, Kentucky, and said that he had to have it.

He has since sold that car and last year purchased an eighth-generation Corvette Stingray convertible as a “retirement car,” given he won’t be getting any free Corvettes for testing.

“I’ve never been a convertible guy, but it’s my wife and my touring car — like cross-country touring car. I’m not going to track it. It’s going to be my daily driver,” he said. “If you just have a daily driver, a cruiser, a Stingray is pretty sweet.”

This post appeared first on NBC NEWS

previous post
Google loses antitrust case over search
next post
How sustainable diaper brand Kudos is taking on industry giants — with a Target rollout

You may also like

Sam Altman tells OpenAI staff there’s no plan...

October 1, 2024

CrowdStrike losses may be biggest test yet of...

July 25, 2024

Abercrombie expects a strong holiday quarter as growth...

November 27, 2024

Rite Aid files for second bankruptcy in two...

May 6, 2025

Trump Organization sues Capital One bank over account...

March 11, 2025

NFL season expected to spur record $35 billion...

September 4, 2024

Vince McMahon settles with SEC over hush money...

January 11, 2025

Trump and Japan tech conglomerate SoftBank announce $100...

December 17, 2024

NFL’s next big media rights payday is years...

September 6, 2024

TikTok and fast-food rivalry fuel Chili’s sales as...

August 17, 2024

Recent Posts

  • Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help
  • Trump pushes tax hikes for wealthy as ‘big, beautiful bill’ deadline looms
  • Trump’s tax hike proposal is ‘déjà vu’ of George H. W. Bush’s ‘read my lips’ moment, experts say
  • Pope Francis-era deal with Chinese Communist Party again under scrutiny as Pope Leo takes the reins
  • Trump says 80% tariff on China ‘seems right’ ahead of weekend talks with Beijing

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (713)
    • Investing (2,064)
    • Politics (2,563)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.