Maker of high-mileage 3-wheel vehicles buys former GM plant
By Ben Klayman
DETROIT | Thu Jan 3, 2013 2:39pm EST
(Reuters) - Elio Motors has agreed to purchase a former General Motors Co (GM.N) assembly plant near Shreveport, Louisiana and will use it to build three-wheeled vehicles that it says will get more than 80 miles on a gallon of gasoline, the company said on Thursday.
Terms of the sale were not disclosed in a joint press release from Elio and Racer Trust, which owns properties GM disposed of in its bankruptcy. The deal is expected to close in the spring.
Elio said it expects to begin commercial vehicle production in mid-2014 with "significant hiring" at the plant to begin by the second quarter of that year and full employment of 1,500 people reached in late 2015. Louisiana state officials said in a separate release that Elio will begin renovating the plant early this year.
Elio said its car will achieve a highway mileage rating of more 80 miles per gallon. Louisiana officials said Elio is targeting a retail price of $6,800 for the car, which will be equipped with three airbags, power windows and air conditioning.
The rest: http://www.reuters.com/article/2013/01/03/us-trust-formergmplant-idUSBRE9020M420130103
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One step up from a motorcycle. Doesn't carry kids.
Great sticker price. I could see these catching on. They look sexier than walking or taking a bus.
