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Factory near Toronto could soon start making an electric vehicle that will cost only $4K

An automotive company near Toronto has released plans to begin working on a small, three-wheel electric vehicle.      

Frank Stronach, the owner of Magna International, has his sights set on a three wheel electric vehicle that can reach a maximum of 32 kilometres an hour and travel up to 100 kilometres on a single charge.

The trunk is big enough for a single piece of luggage, and it's projected to cost only $4,000.

The proposed building site is only five minutes from Magna's headquarters in Aurora, Ont., where Stronach initially grew his automotive business into a multi-billion dollar company. 

The ELVY Sarit (Safe Affordable Reliable Innovative Transport) looks a bit like a golf cart, with a single seat, and could launch the GTA into the competitive market of electric vehicles.

Stronach still needs provincial approval to begin his latest project as the proposed land is currently slated to be residential. However, the town gave their approval to use the land in a meeting on March 23rd.




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