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Elio Momentum v27 – Tire, Audio Agreements Strengthen Elio Commitment to North American Content

American manufacturing is in recession.

Those aren’t our words. That’s a headline from an Oct. 18, 2015 story from Business Insider

And, that’s something that needs to change.

When Paul Elio first got the idea to launch Elio Motors, the country was in the throes of a recession. Credit markets were frozen, the United States was losing manufacturing jobs, and the stock market seemed to be in free fall.

Paul took action. He started Elio Motors.

It’s been a long road to go from idea to production and we are getting closer each day. But, a lot has changed since then. The stock market has come roaring back. Credit is flowing again. And, unemployment is down.

But, still…manufacturing is wallowing.

It’s one of the things Paul Elio hopes to change. When Elio Motors makes it to production, we expect a significant impact on manufacturing and overall employment. The company estimates upwards of 1,500 will be directly employed at Elio Motors’ Shreveport, Louisiana production facility. In addition, the Elio will use 90 percent North American content and create an additional 1,500 jobs from the supply base, Elio Motors corporate, as well as sales and service once full production is underway. Plus, approximately 18,000 indirect jobs nationwide are projected to be created or sustained.

In the Shreeveport, LA Manufacturing Plant
Last week at the Specialty Equipment Manufacturers Association convention in Las Vegas, Elio Motors took two big steps toward accomplishing its goal of using 90 percent North American content. The company announced an agreement with Continental Tire to supply our tires. And, we announced that our audio system will be supplied by MTX Audio.

 

Both of these items will be manufactured right here in the United States. Continental Tire will support Elio Motors from Sumter, South Carolina, while MTX Audio will assemble our audio system in Phoenix, Arizona.

 

Taken individually, you might overlook either one of these announcements. Everybody’s got to source tires and audio from somewhere, right? But, when you see them together, it shows Elio Motors is weaving together a blanket of supplier partners that will cover the entire country.

We won’t solve the country’s manufacturing challenges overnight. But, we are getting there and we will make a significant contribution before we’re through. Our team members and residents in Shreveport will feel the impact. So too will people in Sumter and Phoenix and many other cities and towns across the country.

We know there is enthusiasm for this project. It’s evidenced by the more than 47,000 people who have reserved a spot in line for an Elio and the almost 12,000 people who have provided non-binding expressions of interest of more than $45 million.

Those people believe in our vision. They believe that we will boost American manufacturing. And, we hope they are as proud as we are to see companies like Continental Tire and MTX Audio committing to build things in the United States.

There’s a lot of work to do. But, if we all stay the course, we’ll be improving those headlines soon.

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