Louisiana Economic Development Update
Jan. 3, 2013
ELIO MOTORS ANNOUNCES VEHICLE MANUFACTURING FACILITY IN SHREVEPORT
Company plans to produce high-mileage vehicles at the former GM plant in Caddo Parish
Today, Gov. Bobby Jindal announced that Elio Motors plans to assemble new vehicles at the former General Motors Shreveport, La., plant. Elio Motors Inc. plans to create 1,500 new direct jobs by late 2015 paying an average annual salary of $47,700, plus benefits, as well as make a capital investment in excess of $100 million.
The company announced it will produce enclosed, three-wheeled vehicles capable of attaining a highway mileage rating of more than 80 mpg. Targeting a retail cost of $6,800, the company will position the Elio vehicle as a cost-effective alternative to four-wheeled autos. The Elio will be equipped with three airbags, power windows and air conditioning as standard features, and the company expects to achieve a five-star safety rating. Models will be available with automatic or manual transmission.