General Motors will invest AU$1.2 billion (US$854 million) to develop a new sixth-generation small-block V8.

It will likely replace the current range of LT V8s that first debuted in 2013.

Work on the investment has already begun, with GM stating it has already begun retooling its Flint Engine Operations factory for the new V8, saying: “Work at the facility will begin immediately.”

GM has remained quiet on any specific details around the new engine itself or a release date, stating: “Product details, timing, performance and features related to GM’s next-gen V-8 engine are not being released at this time.”

The AU$1.2 billion dollar investment in the new small-block forms a large chunk of a total AU$1.29 billion (US$918 million) dollar investment in four of its manufacturing sites, with the remaining AU$90.1 million (US$64 million) delegated to the company’s EV development.

“Today we are announcing significant investments to strengthen our industry-leading lineup of full-size pickups and SUVs by preparing four U.S. facilities to build GM’s sixth generation Small Block V-8 engine,” said Gerald Johnson, GM executive vice president of Global Manufacturing and Sustainability.

As for the reasoning behind continuing with ICE V8 engines, GM states that the focus of the new small-block at this stage is more on practicality than performance, stating it will: “strengthen its industry-leading full-size truck and SUV business.”

GM continued its commitment to ICE vehicles by stating that the announcement “highlights the company’s commitment to continue providing customers a strong portfolio of ICE vehicles well into the future while continuing to accelerate its transformation to an all-electric future.”

The news of the new-gen small-block comes at the same time GM unveiled the new C8 Corvette E-Ray, the first hybrid ‘Vette in history that uses the 369kW 6.2-litre LT2 V8 and a 119kW electric motor to make a combined 448kW total output.