General Motors’ VP of global product development Jim Queen has spilled the beans on one of GM’s most crucial future models. In an interview with Motor Trend, Queen said the next-generation C7 Corvette will retain a naturally aspirated V8 engine but will develop up to 700hp in flagship form. Also, rumors of an AWD version are said to be false.

The major focus of the project will be to increase the efficiency of the drivetrain. “We're working hard to get that power onto the pavement,” Queen said, adding that weight and weight distribution are the keys. Most of GM's upcoming large RWD cars are moving to its new Zeta architecture, however, the new Corvette and its Cadillac XLR sibling will be based on a unique platform.

Update: Ok, so it looks like Mr Queen didn't say the next-generation Corvette would have 700hp, but this figure was guesstimated by the writer and added to the story. It would be nice if Motor Trend could ask its writers to clearly distinguish between the actual interview and pure speculation. Thanks to the lads over at Autoblog for tipping us off about this.