Valley-based auto company moving into old GM plant - CBS 5 - KPHO

Valley-based auto company moving into old GM plant

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A startup car company called Elio Motors is moving into the former General Motors plant in Shreveport, where it would build three-wheeled, low-price vehicles.

Gov. Bobby Jindal announced Thursday that Elio is buying part of the plant to assemble its unusual-looking car. The company says the two-seat vehicle averages 65 miles per gallon of gas and will sell for $6,800.

Phoenix, Ariz.-based Elio says it will hire 1,500 workers by late 2015, reviving a plant that once built pickup trucks and the commercial Hummer.

The plant has been closed since late August. GM had handed it over to a trust that took over dozens of GM-owned facilities after the company declared bankruptcy.

The company has been taking reservations for the vehicle, called the Elio. First delivery is projected for mid-2014.

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