General Motors Company has no plans of getting rid of the Chevrolet Corvette, says Tom Stephen, GM’s vice chairman of global product development. However, to meet government requirements on fuel-economy standards, GM may consider offering a hybrid powertrain for the Corvette.

“We will only do a hybrid if that is what is required to maintain the vehicle,” Stephens told Automotive News. “I think we have a pretty good plan right now that probably will not require a hybrid in the near term.”

New requirements set by the Obama administration require vehicles to average 35.5 mpg in the 2016 model year.

Stephens said that to boost fuel-economy, GM plans to reduce the weight of the Corvette, offer low resistance tires and an engine with direct injection, variable valve timing and cylinder deactivation.

Currently the base 430-hp 2010 Chevrolet Corvette gets an estimated fuel-economy of 16/24 mpg (city/highway).

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- By: Omar Rana