Caddo Parish Commission To Review Elio Motors Request for Investment Funding
The Caddo Parish Commission will consider Elio Motors’ request for investment dollars to help the company manufacture its three-wheeled car at the old General Motors plant here in Shreveport.
Commission Attorney Charles Grubb tells KEEL News that doesn’t mean there’s financial instability at Elio.
“They’re a start-up company, and there’s an awful lot of cost involved in starting up a car company,” Grubb says. “And so they’re looking for assistance to the extent that they can get it from government. And the state has provided some assistance, and they’re looking for assistance from us, too.”
Grubb isn’t saying exactly how much Elio is asking for, but he says it takes tens of millions of dollars to get a car company going. What the company has requested from the parish is relatively insignificant. He says he’ll be talking with Commissioners later this week and deciding what they can and can’t support.
“But what they will decide, of course, will be in an open meeting through the adoption of an ordinance or resolution,” Grubb says. “They might decide to do nothing, I just don’t know right now.” He says he’s hoping to get an answer for the Elio folks within the next month.
Meantime, Elio Motors has announce that it will be unveiling a prototype of the new car this weekend. You’ll be able to take a look from 10 a.m. until 5 p.m. Saturday. We don’t know where yet, so check the Elio website for details.