Not long after Motors Liquidation Corp. (“Old GM’s” unwanted assets) transitioned the Shreveport, Louisiana plant to RACER Trust, the facility has acquired an interested buyer.
According to a report from The Detroit Free Press, RACER has agreed to sell the shuttered facility to Elio Motors, a start-up carmaker that plans to hire 1,500 new workers for the plant. If other reports are on point, it’s to produce a small, high-efficiency car, with a “$6,800” price tag by mid-2014. Elio Motors itself is actually based in Phoenix, Arizona.
Additionally, The State of Louisiana is giving a mild tax break to Elio, consisting a yearly payroll rebate of 13 percent for the first 10 years of plant operations. Estimates are that it could cost the state as much as $9 million annually if all 1,500 jobs, with salaries averaging $47,700 a year, are eligible for the rebate.
According to the Elio Motors website, the vehicle they plan to produce will resemble the green egg-shaped three-wheeler pictured above. It will be fittingly named “Elio”, and will be classified as a motorcycle by federal safety standards and could average as much as 60 miles per gallon. That’s a big jump from what used to be built in Shreveport, which were the Hummer H3, Chevrolet Colorado, and GMC Canyon.