December 20, 2014 7:15 AM ET

Automobiles

Company Overview of Elio Motors, Inc.

Company Overview

Elio Motors, Inc. designs and manufactures passenger vehicles. The company intends to develop a three-wheel gasoline car which gives 70 miles per gallon. The company was founded in 2008 and is based in Phoenix, Arizona.

Phoenix, AZ 

United States

Founded in 2008

Key Executives for Elio Motors, Inc.

Founder
Compensation as of Fiscal Year 2014.

Elio Motors, Inc. Key Developments

Elio Motors, Inc. to Work with Comau to Sell Surplus Manufacturing Equipment

Elio Motors, Inc. announced that it will work with its manufacturing partner, Comau, to sell surplus manufacturing equipment from the former GM manufacturing facility in Shreveport, Louisiana, where the company will begin production of its enclosed, three-wheeled vehicle in 2015. The strategy allows Elio Motors to reuse the machinery it needs to manufacture its high-mileage vehicle, raise funds that will go toward production and recycle valuable machinery it does not need. Comau plans to contract approximately 30 people to assist in the disposition of surplus assets and has enthusiastically agreed to give preference to local contracting firms where possible.

Elio Motors to Launch Elio at 2014 International Consumer Electronics Show

Elio Motors is launching its three-wheeled, 84mpg Elio at the 2014 International Consumer Electronics Show in Las Vegas. The vehicle is to be produce at a former General Motors plant in Louisiana, is to arrive at United States dealerships in the first quarter of 2015 and will be priced from USD 6,800. The model features power windows and door locks, ABS and air conditioning. It is likely to be equipped with a 1.0-litre, three-cylinder engine that delivers 70bhp, coupled with a choice of a five-speed manual or automatic transmission.

Elio Motors, Inc. Plans to Produce Innovative Vehicle

Elio Motors, Inc. tires as original equipment on the innovative vehicle, which Elio expects to achieve up to 84 miles per gallon. Weighing about 1,200 pounds, the futuristic Elio runs on a three-cylinder, 55-horsepower, fuel-injected engine. The vehicle is expected to retail for approximately $6,800 and The company plans to produce it in Shreveport, Louisiana, using components primarily made in North America.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
February 28, 2014
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