LOS ANGELES — General Motors’ 755-horsepower Corvette ZR1 supercar will have a starting price of $119,995, with the convertible version from $123,995, its global product development chief, Mark Reuss, said on Tuesday.

The Corvette competes with Italian luxury sportscar Ferrari in the elite, high-performance sports car segment, and is the opposite end of the automotive spectrum from the electric and self-driving cars GM is expected to highlight at an investor conference on Thursday.

Reuss revealed the price at an event ahead of the LA Auto Show.

Reporting by Joseph White