Detroit Bureau on Twitter

Posts Tagged ‘Elio selling cars’

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.

News Now!

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…)