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Startup Elio Motors to Buy GM Plant for Building 60 mpg Car

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Elio_MotorsElio Motors in Shreveport, Louisiana wants to by a former General Motors plant in order to manufacture and sell their low-cost, high MPH car.

One green automaker, Bright Automotive, has already gone under in Shreveport while waiting for Federal funding. Bright Automotive had hoped to build a green, high MPG van, but could not hold on before Department of Energy (DOE) funding was available. On the east coast, Fisker Automotive in Delaware has received great criticism for failing to deliver jobs they promised upon buying a former General Motors (GM) plant.

The cost of the Elio will be approximately $6,800, making it the cheapest car in all of America. However, the electric car only has three weeks of power instead of four. It does come with a three year warranty and does include safety features the comparable cars do not. The Elio has a reinforced roll-cage frame, anti-lock brakes, three airbags, and will most likely receive a 5-star safety rating. There is a discrepancy between the website claims of 60 mpg and 672 to a tank of fuel, while the video claims 84 MPG.

While Elio had hoped to raise $10 million from investors, they have raised only $150,000 to date. In order to get the GM plant in Shreveport to a point Elio can really be a player in the green automobile industry, the company will have to get more money from somewhere.

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