Is the 2024 Chevy Corvette E-Ray 3LZ Convertible Really Worth Over $120K?
The 2024 Chevrolet Corvette E-Ray will usher in a new era for the revered American sports car as its first electrified and all-wheel drive iteration. The E-Ray will be motivated by the traditional 6.2-liter V-8 found in the internal combustion Stingray but paired with an electric motor to crank out an impressive 655 horsepower, just 15 fewer ponies than the Z06. Additionally, an intelligent all-wheel drive system and EV mode will set the E-Ray apart from its predecessors. At the same time, established performance goodies like Brembo carbon ceramic brakes and magnetorheological dampers will help maximize its performance.
With its upgrades over the traditional C8 Corvette, the E-Ray will, unsurprisingly, carry a higher asking price. So, is it worth the cost of admission?
The 2024 Chevy Corvette E-Ray starts at $102,900
The 2024 Chevrolet Corvette E-Ray will be offered in three trim levels in either coupe or convertible body styles. The 1LZ Coupe will serve as the entry model with an MSRP of $102,900 and comes equipped with performance features like carbon ceramic brakes, adjustable dampers, and a head-up display. Chevy hasn’t released the full features list of the E-Ray as of this writing, but it should carry many of, if not all, the same standard features as the Stingray. The entry-level internal combustion Corvette is fitted with a performance exhaust, electronic rear limited-slip differential, leather upholstery, a 10-speaker Bose audio system, and an 8-inch touchscreen.
The Chevy Corvette Stingray could be considered the blue-collar hero of the sports car world. There’s simply no other option for a near-500 horsepower, mid-engine supercar with an MSRP of just $65,895. Of course, that means the E-Ray 1LZ commands a whopping $37,005 over a base Stingray. However, the E-Ray packs an additional 165 horsepower, its claimed 0-60 mph time is just 2.5 seconds, and just for good measure, it’s more fuel efficient and can drive solely on electric power up to 45 mph. So, many buyers will likely consider the huge uptick in price worth it.
The 3LZ Convertible tops the E-Ray range
On the other end of the Chevy Corvette E-Ray spectrum is the top-spec 3LZ Convertible, which will ride into the 2024 model year with a $120,850 MSRP. It will have all the kit of the base model with add-ons like a performance data recorder, heated and ventilated front seats, wireless charging, a 14-speaker Bose speaker system, sporty GT2 Nappa leather and carbon-fiber seats, a custom leather-wrapped interior with “sueded” microfiber trim, and carbon-fiber steering wheel trim and shifter paddles.
How does the E-Ray’s price compare to other electrified sports cars?
Few would describe the Chevy Corvette E-Ray’s pricing range of about $102,000 to $121,000 as chump change. Still, like the Stingray, it can be considered a performance bargain for the performance it provides compared to other electrified supercars.
According to AutoCar, the 2023 Porsche Taycan Turbo sports four doors and therefore is more practical and heavier than the E-Ray. Still, its 670 horsepower and 3-second 0-60 mph time are comparatively close to the Corvette. However, the Taycan Turbo in its base form rings in at over $30,000 more expensive than the most costly E-Ray.
The 2023 Audi GT e-tron RS is another four-door EV performer offering similar performance specs to the E-Ray — it has just 18 less horsepower but commands about $145,000.
Elsewhere, the upcoming Maserati GranTurismo Folgore is expected to start above $200,000, which could net buyers two E-Rays.
For something even remotely close to the E-Ray’s performance and price while remaining in the electrified space, buyers must consider the BMW i4 or Kia EV6 GT. Both electric models provide far less power, and likely driving verve, than the E-Ray. Additionally, it’s pretty safe to assume those considering an electrified, mid-engine American supercar aren’t exactly in the market for a BMW sedan or Kia crossover.