Elio to sell 100 pre-production three-wheelers to raise cash

March 12, 2016

Elio Motors has announced plans to begin building the its three-wheeled vehicle in the fourth quarter.

The first batch of vehicles was initially intended to be used for internal purposes, however the startup has since decided to sell 100 pre-production units to one or more fleet customers.

“This will help us generate additional revenue, it will allow us to evaluate vehicles under real-world driving conditions and it will allow our supplier team to refine our design,” said Elio Motors founder and chief executive Paul Elio.

The company promises to deliver a three-wheeler with a price tag of just $6,800 and an efficiency rating of 84 mpg. Having three wheels instead of four effectively enables the vehicle to skirt federal safety guidelines for cars, though it will still have three airbags and other safety provisions, such as anti-lock brakes.

The three-wheelers will be built at a former General Motors factory in Shreveport, Louisiana. The project continues to face delays, and Elio now suggests the first series production vehicles will not roll off the assembly line until sometime in 2017.

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