More than 1500 new jobs will be heading to Shreveport.
Thursday Elio Motors announced at a news conference that the former General Motors plant will be its new home.
The company will produce enclosed, three-wheeled vehicles capable of attaining a highway mileage rating of more than 80 mpg and targeting a retail cost of $6,800.
The Elio will be equipped with three airbags, power windows and air conditioning as standard features, and the company expects it to achieve a five-star safety rating. Models will be available with automatic or manual transmission.
The manufacturing facility will occupy approximately 1 million square feet of the more than 3 million-square-foot former GM site.
Meanwhile, Greg Dupuis with Governor Jindal's office says Elio Motors is expected to pay employees an average annual salary of $47,700, plus benefits.