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Posts Tagged ‘Elio car’

Elio Motors Looks to Raise $100 Million with New Offering

Production date of three-wheeler pushed back to 2019.

by on Aug.07, 2017

The Elio will get 84 mpg when the three-wheeler hits the streets.

Paul Elio is still determined to make his three-wheeled dream a reality. Elio Motors, the much-ballyhooed company created to make it happen, is looking to raise as much as $100 million in a new public offering.

The Elio is a three-wheeled, two-seat car that was expected to get 84 mpg. The car was initially featured a target price of $6,800, but that’s risen since its introduction several years ago to $7,450. The car is produced in a former General Motors plant in Shreveport, Louisiana.

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In addition to asking for the $100 million, the company revealed in the filing that production vehicles will be unlikely to hit the road until 2019, which is a year later than the last estimate. More than 62,000 people have paid for reservations for the vehicles. (more…)

Elio Bringing Three-Wheeler to LA Auto Show

Car set to hit U.S. roads next year.

by on Nov.10, 2015

Elio Motors' new three-wheeler is coming to the L.A. Auto Show and is expected to hit the road in 2016.

Elio Motors, a six-year-old start-up preparing to put a three-wheeled passenger car on the road next year, plans to show off a prototype at the Los Angeles Auto Show next week.

Founded in 2008 by Paul Elio, who was concerned about the damage to the U.S. economy due to America’s dependence on foreign oil at the time, the Phoenix-based company has gradually matured with support from a broad crosssection of widely recognized automotive suppliers, such IAV, an engineering company that has done powertrain development for major automakers, ranging from Audi and General Motors to Peugeot.

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The heart of the Elio three-wheeler, which is longer, heavier and more sophisticated in terms of both and design and safety equipment, than the three-wheel motorcycles sold for recreation across the U.S., is a new, small, lightweight engine that will get up to 84 miles per gallon in normal city driving and cost only $6,800. (more…)