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Elio Motors Unveils Updated Test Vehicle
Elio Motors Inc. this week took the wraps off an updated version of the 84-mpg three-wheel vehicle it plans to launch next year.
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Elio Motors Inc. this week took the wraps off an updated version of the 84-mpg three-wheel vehicle it plans to launch next year.
Code-named E1A, the prototype is the first of 23 test vehicles the company plans to produce this summer to validate the car’s safety, aerodynamics and durability. Once testing has been completed, Elio plans to build 100 pre-production vehicles at its Shreveport, La., manufacturing facility, which it purchased from General Motors Co. in 2013.
The Phoenix, Ariz.-based start-up company says it has received more than 55,000 reservations for the tiny car, which it plans to price at $6,800. Earlier this year Elio Motors raised about $17 million to build the E1A test vehicle through a crowd-funded stock sale.
Formed in 2009, Elio Motors originally hoped to launch the three-wheeler in 2014. But the company has struggled to get the project off the ground. In March it said it had a $54 million deficit and expected to generate a “significant” loss this year.
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