BATON ROUGE, La. (AP) — 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.
The deal was announced Thursday for Elio to take over 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 when commercial production begins in mid-2014.
Phoenix-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.
An industrial developer is buying the entire facility in conjunction with Elio and hopes to lease portions of the site to other tenants. Details of the purchase price and arrangement weren't disclosed.