By Susmita Baral |
Elio Motors has purchased a former General Motors assembly plant near Shreveport, Louisiana. Elio—which produces fuel efficient three wheeled cars that can go at 84 mpg on a highway—will begin production at this new facility in mid-2014 and is speculated to hire 1,500 employees by 2015.
For those unaware, the Elio retails for a mere $6,800 and features three airbags, power windows and air conditioning, two seats, a central driving position, front wheel drive, 60 mpg average, and a three-year 36,000-mile warranty. What’s more, a preliminary test gives the vehicle a 5-star safety rating.
Elio, founded in 2008, will build its three-wheeled vehicles in the 1.8 million-square-foot factory that was built in 1981 and most recently expanded in 2002. The property also includes a paint shop, powerhouse and wastewater treatment facility, rail spur and 530 acres of land.
Elio said it expects to use about 1 million of the more than 3 million square feet available for its manufacturing operations.
Industrial developer Stuart Lichter, who has acquired other former GM sites, will buy the 530-acre Shreveport site in conjunction with Elio and lease portions to other tenants, state officials said. Lichter is president of Los Angeles-based Industrial Realty Group.
Elio will receive an incentive package from Louisiana Economic Development, Louisiana officials said. The Caddo Parish Commission also is negotiating potential incentives.