Elio Motors: Another Zap or Aptera?

A startup named Elio Motors (website) has announced plans to buy GM's closed Shreveport LA plant, with intent to produce their 3 wheeled vehicle. The Elio prototype is a 2-seater enclosed tricycle with fairly anonymous styling, with two wheels up front and one in back. A very aggressive price of $6800 has been announced.

I am skeptical of Elio's ability to sell these in any volume. The trike has some major limitations including practicality, possibly compromised snow handling, and virtually no crash requirements. Vehicles like the Elio, and the Zap and Aptera designs are legally considered motorcycles as far as the Feds are concerned, which means that in many states (example: Ohio), drivers may have to get motorcycle certifications and even wear a helmet, until laws are updated. Unlike passenger cars, the Elio will not be required to have stability control.

I am also skeptical that they can produce a quality, safe, and refined vehicle for only $6800. Many high-volume motorcycles are priced in this range, which lack the additional equipment (airbags, etc.) that Elio is promising. A better comparison would be a very small car, such as the Tata Nano. A European spec Nano was speculated (if it ever arrived) to cost $6,000-$8000. The cheapest U.S. legal cars I am aware of are the Nissan Versa and Chevrolet Spark, both of which can be purchased for around $12,000.

At best, I see Elio selling a few thousand cars to people who want an enclosed motorcycle, or like driving something very different.