TROY, Mich. – Elio Motors will move into a former GM plant in Shreveport, La., to produce its three-wheeled vehicles, a move that’s expected to bring 1,500 jobs back to the facility.
The Caddo Parish Industrial Development Board (IDB) completed its purchase of the former General Motors Shreveport Assembly and Stamping Plant, of which Elio Motors will rent about 1.5 million sq. ft.
Landlord Industrial Realty Group, which leases the 4.1 million sq. ft. building from the IDB, will seek a tenant or tenants for the 2.6 million remaining sq. ft. 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. “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.”
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.
Plans call for the vehicles to be manufactured using more than 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 sq. ft. paint shop; an onsite powerhouse and wastewater treatment facility; a rail spur; and 530 acres of land.
GM production at the Shreveport Assembly and Stamping Plant ceased Aug. 28, 2012.
Posted by Holly Wagner