Paul Elio to give update on future of three-wheel vehicle

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Elio talks production at plant_69981333

The man that wants to build a three-wheel vehicle in Caddo Parish will give an update.

Paul Elio, CEO of Elio Motors, will provide the update later this morning at Wheless Auditorium, Regions Center on Texas Street in Shreveport.

Elio says the update is in response to inquiries from constituents in District 12 and by request of District 12 Commissioner Louis Johnson.

On Wednesday, Elio was in Utah to tout the vehicle.

Utah is also home to Overstock.com. Late last month, Overstock agreed to buy $2,500,000 of newly issued shares of Elio common stock at $2.75 per share in a private placement.  

During an update in May 2017, Elio said they were sticking to a deadline to begin constructing the vehicles in 2018.

Also last May, Elio Motors revealed in a filings with the U.S. Securities and Exchange Commission that $376 million was needed to begin production. 

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