It’s been some time since Elio Motors started asking the public to invest in their company so as to bankroll the production of their three-wheel, fuel efficient car. It seems like last negotiations are jeopardized and the company wishes to keep it under wraps until something permanent is finalized.
While the company has suffered from a delay in production of their breakthrough vehicle, it hasn’t stopped making further additions and refinements so as to make it perfect before it finally goes into production, sometime next year.
The latest version of this vehicle was showcased in CES 2015 and it revealed an added hatchback trunk for added storage. On top of that, the car also features a tablet-based infotainment system in its interior which deals with connectivity, navigation, entertainment, music and an optional control for a rearview camera.
Last month, Elio Motors also unveiled the 0.9-liter three-cylinder engine prototype that officially made the company the first vehicle manufacturer to produce its own internal combustion engine.
Apparently, Nash Motors did it first in 1951. After it is released, the three-wheeled vehicle will be priced at a mere $6800 and will come in seven different colors. Meanwhile, the company has been looking for investors to produce up to $30 million so that the company can finally bankroll the production of their wonder car.
The public offering is a constituent of the overall fundraising strategies of Elio Motors. It includes the selling the surplus equipment from the earlier GM Truck Plant in Caddo Parish, LA. This is where the company intends to start producing their breakthrough cars. It has been three years since Elio Motors unveiled the concept of this car and hopefully they will be able to begin production in 2016.
The car has remarkable fuel efficiency ratings of 84 miles per gallon which relates to a consumption of only 2.8 liters for 100 kilometers. After CES, the company has accepted 39,000 reservations for its car. The consumers have shelled out from $100-$1000 in the process.
Right now, financing is still the biggest issue that CEO Paul Elio has to deal with in order to get the production finally going. In the meantime, he was asked about production but Paul Elio confessed that it is still too early to decide a perfect production date.
Earlier, Paul Elio declared that they are honored to be a part of the brightest minds in science and technology. He believes that their vehicle is the future of ultra-high mileage, low cost commuter transportation, which can make a certain impact on both US manufacturing and environment.