L.A. Auto Show-goers are getting a first look at the production version of the unusual 3-wheel hyper-miler planned by Detroit start-up Elio Motors.
The company is finally testing a version of the two-seater — which is expected to get around 84 miles per gallon – using its own, unique engine. And it plans to launch production at an old General Motors plant in Shreveport, Louisiana, by the fourth quarter of 2016. But there is a catch.
Founder and CEO Paul Elio told TheDetroitBureau.com his company has so far locked down only $75 million in funding, a quarter of what it needs to start its assembly line. It thinks it has commitments to bring that up to $100 million, but must yet find the rest of the funding.