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Posts Tagged ‘Elio 84 mpg car’

Elio Selling 100 Preproduction Models to Raise Cash

Company delays introduction of finished product until 2017.

by on Mar.15, 2016

Elio Motors is offering its three-wheeler for sale: sort of. It's selling 100 of the preproduction models to generate some cash.

The little three-wheeled car that could is actually coming to America’s roadways as expected in the fourth quarter of this year. Well, 100 of the preproduction models are anyway, although most of those won’t hit tarmac until next year.

Elio Motors announced in its most recent public filing that it plans to sell 100 of its preproduction models so it can generate cash for the company and get some real-world testing for the three-wheelers that are expected to get up to 84 mpg. The purchase price for these cars was not revealed.

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The company, which recently completed its first public stock offering raising more than $25 million, said during the Los Angeles Motor Show in November that it would begin deliveries of the car, which is going to be built in a former General Motors plant in Shreveport, Louisiana, in the fourth quarter of this year. (more…)

Elio Motors Launches National Ad Campaign

But production still many months away – if funding can be found.

by on Jan.27, 2016

Elio Motors takes another step toward reality with an ad campaign featuring two television commercials.

Expect to start seeing a flurry of ads from start-up automaker Elio Motors pitching the company’s unusual, three-wheeled model it plans to start selling for a base price of $6,800.

That is, of course, subject to a few caveats. For one thing, the Elio two-seater won’t go on sale until “late 2016,” the company says. And even that target date is a big if, company founder Paul Elio acknowledged during an interview at the L.A. Auto Show last November, noting that he has yet to come close to raising the capital needed to put the 84-mpg vehicle into production.

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It appears one of the goals of the new national ad campaign is to not just get more folks to place reservations on the Elio website, but also to use any new burst of interest to help convince potential lenders and investors to come onboard. (more…)