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Enclosed roadster maker Elio Motors to begin operations at former GM plant

elioroadster_608x300

January 14, 2014
Filed under News, Top Stories

News release

Elio Motors has taken the next step in its plan to manufacture its 3-wheel vehicles and bring 1,500 jobs back to the facility just southwest of Shreveport. The Caddo Parish Industrial Development Board (IDB) completed its purchase of the former General Motors Shreveport Assembly and Stamping Plant, allowing Elio Motors to progress in their manufacturing timeline.

Elio Motors will rent approximately 1.5 million square feet of the 4.1 million square foot building from Industrial Realty Group, who leases the building from the IDB. IRG will seek a tenant or tenants for the 2.6 million remaining square feet of the building, which may include suppliers for Elio Motors.

“This has been an extremely exciting week not just for me personally, but for the entire Elio Motors team. We’ve had an incredible amount of momentum which has led us to a new plant that will be the foundation for building the new vehicle,” said Paul Elio, CEO and founder of Elio Motors. “Plus, we also raised over $7 million to help us move forward. My dream has been to build a new kind of safe, reliable, fuel-efficient vehicle here in the United States, and Caddo Parish was the ideal location. Acquiring this plant and all of the equipment in a fully operational state will allow Elio Motors to thrive right off the bat once commercial vehicle production begins in 2015. This deal would not have been possible without the support and confidence shown by RACER Trust. I am very grateful to the Caddo Parish community for their support in addition to IRG and the State of Louisiana, and I look forward to a prosperous future for our company and the people with whom we will grow and flourish.”

“This is a great day for Elio Motors and all those who ultimately will benefit from this venture, especially the local residents who will have tremendous new job opportunities,” said Stuart Lichter, President and Chairman of IRG, a national leader in industrial redevelopment. “It’s rare to find an industrial building in such excellent condition, and the location could not be better. The possibilities here are endless, including the great opportunity to bring in other companies, perhaps even suppliers, to the site. The future for us here is very bright.”

“I’m very pleased for Elio Motors, IRG and the people of Northwest Louisiana,” said Elliott P. Laws, administrative trustee of RACER Trust. “One of RACER’s key missions is to find new users who will create jobs and invest in the wellbeing of communities that were hurt by the General Motors bankruptcy. We wish Elio Motors and IRG nothing but success and will look forward to the start of production and seeing the first Elios on the streets.”

Mr. Elio said he expects his company to begin commercial vehicle production in first quarter 2015, with significant hiring at the Caddo Parish facility to begin by the fourth quarter of 2014 and full employment to be reached in late 2015.

Though the Elio’s design is unique, the vehicles will be manufactured using over 90 percent North American content and as many existing and proven parts as possible. The company has been accepting pre-orders on its website and touring the country to showcase the prototype.

The former GM Shreveport Assembly and Stamping Plant was built in 1981 and most recently expanded in 2002. The property also includes a 1.5 million-square-foot paint shop; an on-site powerhouse and wastewater treatment facility; a rail spur; and 530 acres of land.

GM production at the Shreveport Assembly and Stamping Plant ceased on August 28, 2012. GM produced more than 4.8 million vehicles, mostly light-duty pickup trucks, at the facility, which was among the properties the former General Motors Corp. relinquished as part of its 2009 bankruptcy proceedings. The “new” General Motors had continued operations at the Shreveport plant under a lease with the RACER Trust.

Comments

16 Responses to “Enclosed roadster maker Elio Motors to begin operations at former GM plant”

  1. Marty Lesser on January 14th, 2014 3:38 pm

    Wonderful! I wish Elio much success! If I may make a suggestion. Install a rear back up/ rear view camera with object warning sensor since there is no rear window.

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  2. Ken Hoffmann on January 14th, 2014 5:29 pm

    What are your requirements for distribution rights/dealerships, specifically in California?

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  3. Martin Heriford on January 14th, 2014 11:59 pm

    Wish your product were coming along a little quicker, promises/projections are lagging a little, this will be a great product when it gets to market.

    Baited Breath,

    Martin

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  4. Werner Baeckelandt on January 15th, 2014 12:29 pm

    I am 77 years old and would love to be a salesman for this wonderful vehicle that i invested over 6 months ago. I can’t wait to be able to show my “friends” who were very skeptical of my investment into the future. May God bless this venture for all the success it deserves. Best to all of you who have been working so hard to meet the goals set before you.

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  5. Carroll R Whittle on January 15th, 2014 4:40 pm

    I made my deposit in July 2013 and I am no. 1432 on the $1000 reservation list..I just hope I live long enough to get my red elio..Im 68 years old but I stiil go to the gym three times a week so maybe I will still be here when production starts…been saving towards mine since last year..got $5700 saved already…Elio will be the best thing that’s happened in this country in the last fifty years….I wont give up unless I kick the bucket…..

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  6. Rick Austerman on January 15th, 2014 8:55 pm

    I would like to see a side by side for long trips

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  7. Brad Thrower on January 17th, 2014 1:00 am

    Love it so far. But i would like to see a diesel engine made available , that would push fuel economy over 100 mpg. Also have not heard anybody speak of a warranty .

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    Carroll R Whittle Reply:

    3 years…36000 ,mile warranty..bumper to bumper…..

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  8. Ken Szush on January 17th, 2014 7:45 am

    Can’t wait for mine..#830. First trip is to the dragon’s tail. Then south to Key West. Call it a bucket list I guess I just want to hit the road and not look back. This car will get the miles put on it. Just wish it would be built sooner. Keep the fait! Life rocks let’s roll.

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  9. Jim Nimocks on January 17th, 2014 11:54 am

    Sat in the prototype in Orlando last month. Adequate room for two adults in tandem. Invested shortly thereafter. My reservation deposit is still being “processed”‘ but I am hopefull to be in the 5000’s. Real excitement building around this thing. Maybe a “rallye” in the East Coast some day?

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  10. KJordan on January 17th, 2014 11:57 am

    Big congratulations to Paul Elio and his team for having the courage and drive to get this far with his unique concept. Having explored the eliomotors.com website, I was excited to learn of the low entry price, $6,800, product content, and of the creative way to pay for the vehicle. This type of customer focused solution is exactly why Elio Motors might have staying power. Best wishes, Mr. Elio!

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  11. Ken Kelly on January 17th, 2014 1:16 pm

    Simple, efficient, safe, cool looking, and way smarter than the so-called “SmartCar” at half the price. I’ve driven motor cycles since I was 15 (46 years ago) and this would be the next best thing without the wind noise and limited weather use. GIT – R – DUN !!!!

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  12. Carl Holyfield on January 25th, 2014 10:08 pm

    I WANT ONE Soon.

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  13. Carl Holyfield on January 25th, 2014 10:09 pm

    I WAnt one soon Loaded with all opt.

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  14. Carroll R Whittle on February 23rd, 2014 9:35 pm

    love it,,gonna get one….done my deposit#1432

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  15. Bill on April 18th, 2014 5:30 am

    It’s mid April and Elio hasn’t leased any space yet at the plant. Nobody will be producing parts for it until Elio definitely has a production site and is getting the line set-up for production. Since Elio has always been trying to get his venture financed by tax payer dollars I bet he’s holding off on signing a lease until all the testing is done then ask Caddo and Louisiana to provide loans to get started or he’ll go elsewhere.

    Toyota needs another assembly plant for producing their pick-up line so the Caddo plant would be ideal for them and the region’s economy more than this shady operator’s puddle jumper.

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