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Elio Motors to Buy Former GM Plant to Build Frugal Three-Wheeler

The constant expansion and (now) contraction of GM, has affected thousands of people around the US (and the world), whom may have had a stable job one day, and no job the next. This sad reality has rendered many former GM facilities useless, and they now lie unused and awaiting new ownership.
Elio Motors Three-Wheeler 1 photo
Such is the case with a former GM plant, located close to Shreveport, Louisiana. Now, a new automaker called Elio Motors (official site seems to be down at the moment) has stepped in to gain control of the factory, and convert it to produce a new breed of frugal three wheelers, which they call ‘the next big thing in transportations’. The company plans to sell its vehicles around the $6,800 mark.

The CEO of the company, Paul Elio, said that “There were three driving factors in the purchase of the plant: The business-friendly economic environment; the quality of the local experienced workforce; and our unwavering commitment to build Elio vehicles in America, with American workers.

There is also the money issue, and the newly-formed company filed with the Securities and Exchange Commission, in order to raise $10 million, yet they only managed to raise a very small part of it - $150,000.

 
 
 
 
 

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