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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 Offers Online Ordering Option

Three-wheeled carmaker following example of cell phone industry.

by on Mar.25, 2016

Future owners of the Elio three-wheeled car can use ePlus to add options to the vehicle.

Startup vehicle manufacturer Elio Motors Inc., which plans to launch a three-wheeled vehicle getting up to 84 miles per gallon, unveiled plans for ePlus that will allow customers interested in owning one of the firm’s edgy vehicles a way to personalize it to suit their individual taste.

“The current options system is broken at many levels,” said Elio Motors founder and CEO Paul Elio.

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“Traditionally if a customer wants one particular option, they have to accept three or four other options as part of the package, and that seriously limits customer choice and drives up cost to the customer. Much of the technology forced on customers, such as navigation or media equipment becomes antiquated in six months or less,” he said. (more…)

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…)

Elio Opens Stock Offering to Public

Start-up falls short in initial fundraising effort.

by on Dec.03, 2015

The latest Elio prototype made its debut at the LA Auto Show just last month.

Willing to risk some cash to help bring a radical new automotive concept to market? Does Paul Elio have a deal for you.

The founder and CEO of start-up Elio Motors has announced that his newly public company is opening up its first stock offering to the general public in a bid to raise $25 million. That would allow it to take the next in a series of steps that could bring to market a 2-seat car capable of getting 84 miles per gallon and costing just $6,800.

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Elio Motors revealed the latest prototype, dubbed the P5, at the Los Angeles Auto Show last month and said it hopes to stick with its plan to begin production at an old GM plant in Shreveport, Louisiana by late next year.


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…)

Elio Three-Wheeler Takes Next Step toward Reality

Maker using Pep Boys to service vehicles.

by on May.02, 2014

Elio Motors announced three guys named Manny, Moe and Jack, aka the Pep Boys, will handle the servicing of its three-wheelers.

Elio Motors’ three-wheeled car took another step toward fruition with the announcement that three guys named Manny, Moe and Jack will handle the servicing needs for future owners.

The yet-to-be-built car’s service needs will be handled by Pep Boys and its 800 locations in 35 states and Puerto Rico. Pep Boys’ locations will service approximately 90% of all Elio Motors’ customers. The company is evaluating service options in remaining markets.

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“Providing a convenient and professional service experience is one of the most important elements in creating an overall positive customer ownership experience, so this is a crucial step on our development,” said Paul Elio, CEO of Elio Motors. (more…)

Three-Wheel, 84 MPG Elio Moves Closer to Production

Start-up maker partners with Comau at Shreveport assembly plant.

by on Feb.11, 2014

Elio will sell the tadpole-shaped 3-wheeler for $6,800.

The quirky little 3-wheeled Elio, a low-cost, high-mileage vehicle named for its founder, has moved a step closer to production.

The start-up maker has contracted with Italy’s Comau to pull together the manufacturing operations at an old GM plant in Shreveport, Louisiana.  Though running a bit behind its original schedule, Elio Motors promises to have the new model in production by the fourth quarter of this year, with dealers set to start delivering the first vehicles by the beginning of 2015.

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“Comau technology is used by car manufacturers all over the world and Elio Motors is fortunate to have their expertise and experience as part of our team,” said Paul Elio, Founder and CEO of Elio Motors.

Elio describes the new car as “the next big thing in transportation.” It features two wheels up front and one in the back, and despite a promised starting price of just $6,800, it will offer three airbags, with the company aiming to earn a five-star federal crash rating.


Start-Up Automaker Takes Over Old GM Plant

Elio promising an affordable 3-wheeler by 2014.

by on Jan.04, 2013

Elio plans to sell the tadpole-shaped 3-wheeler for just $6,800. It promises up to 84 mpg.

A small start-up that hopes to begin producing a new high-mileage automobile in mid-2014 has taken over an abandoned General Motors plant near Shreveport, Louisiana.

Elio Motors plans to use about a third of the 1.8 million square foot facility, one of 89 properties GM shuttered in the wake of its 2009 bankruptcy.  The company hopes to begin hiring the first of 1,500 new workers about a year from now, though it is unclear whether it will seek out the employees who previously staffed the GM facility.

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“We go into production 18 months from now, and so we will begin hiring around 12 months from now,” said Elio CEO Paul Elio.

The plans call for the production of a significantly different vehicle than what GM had previously built in Shreveport, which included a small Hummer SUV and, just before the factory’s closure, the midsize Chevrolet Colorado and GMC Canyon pickups.  Elio is developing a tadpole-shaped 3-wheeler that promises to deliver high mileage for a low price tag.