Type Private Industry Automobile CEO Paul Elio (2009–) | Traded as OTCQX: ELIO Founder Paul Elio Number of locations 3 | |
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Key people Paul Elio, founder and CEOJames Holden, Board MemberDavid C. Schembri, Board MemberKenneth L. Way, Board MemberStuart Lichter, Board MemberHari Iyer, Board Member Stock price ELIO (OTCMKTS) US$ 7.76 +0.04 (+0.46%)8 Mar, 4:00 PM GMT-5 - Disclaimer Founded 2009, Arizona, United States Profiles |
Elio motors the other breakthrough car company
Elio Motors is an automobile company founded by Paul Elio in 2009. The three-wheeled Elio P4 is engineered to attain a highway mileage rating of up to 84 mpg with regular features such as power windows, a power door lock, cruise control, and air conditioning, all in an aerodynamic, enclosed vehicle body. The vehicle is also equipped with a safety system that includes multiple air bags, anti-lock brakes, traction control, steel unibody frame, and crumple zones. Elio's first manufacturing site will be Shreveport, Louisiana.
Contents
- Elio motors the other breakthrough car company
- Elio motors completes first e series vehicle
- Specifications
- Production
- Criticism and Controversies
- References
Elio motors completes first e series vehicle
Specifications
Elio Motors plans to manufacture a three-wheeled vehicle (two wheels in front, one in back) with a $7,450 (for the first 65,000 reservations) base price. It is projected to achieve up to 84 mpg-US (2.8 l/100 km) on the highway and up to 49 in the city. As of January 2017 there are five prototypes and three validation vehicles (codename E1-A, E1-C, and E1-D) to test for safety, aerodynamics, and durability. Even though the E1-C is not used for testing, it is significantly closer to a production model than P5, with updated interior and a cosmetically-evolved engine. It was also produced using 80% soft-tooling. The testing phase is concluded, and the company is going to build 100 pre-production fleet vehicles at its Shreveport, Louisiana, manufacturing facility in 2017.
The vehicle will be equipped with standard features such as AC/Heat (manufactured by RedDOT), AM/FM stereo, power windows/door lock, cruise control, three airbags, a reinforced steel roll cage, side intrusion beams, stability control, and disc brakes with ABS. Continental AG has created a tire specifically for the Elio. The Elio is designed to meet motorcycle standards because as a three-wheeler it is within the U.S. government's motorcycle classification. The company has lobbied, in most states, to alter regulations that would otherwise require drivers to wear a helmet and, in many states, to remove the requirement for operators to have a motorcycle endorsement on their driver license.
The design specification includes a target curb weight of 1,350 lb (610 kg); three-wheel anti-lock disc brakes; an inline 0.9 liter three cylinder (designed especially for Elio by IAV), 55 horsepower (41 kW) engine; and front-wheel drive, with a top speed of 107 mph (172 km/h) and an acceleration of 0 to 60 mph (0 to 97 km/h) in approximately 10.8 seconds. The vehicle has an overall length of 160.5 inches (4.08m) and an overall height of 54.2 inches. The front track is 66.8 inches with a wheelbase of 110 inches. The trunk space is 27 x 14 x 10 inches, enough for an airline carry-on bag or a golf bag with the rear seat down (47+ inches).
Production
Elio Motors is based in Phoenix, Arizona and is preparing to manufacture its vehicles in Shreveport, Louisiana, using a portion of the former General Motors 3.2 million-square-foot plant. It is estimated by the company that upwards of 1,500 will be directly employed at Shreveport facility plus an additional 1,500 at the supply base. In addition, Elio Motors is targeting 90% North American parts for its vehicle.
100 pre-production fleet vehicles were scheduled to be produced in December 2016, however, CEO Paul Elio recently stated targeted production of the fleet vehicles had been postponed until late 2017. As of February 20, 2017, production on the first 100 has not started. The anticipated official service provider for Elio Motors is Pep Boys which can provide a nationwide network for vehicle service with more than 800 service centers and 7,500 service bays in 35 states. The company started accepting customer reservations on its website in January 2013 and has received 65,112 as of March 8, 2017.
Criticism and Controversies
Elio Motors has delayed the release date, which was originally in 2014. The first new date was 2015, then 2016, then 2017. In December 2016, the date was announced to have moved to 2018. This date has made automotive analysts question the company's ability to deliver this car on time. In an effort to secure a Department of Energy loan, Elio is offering advance reservations where the buyer can reserve a spot in line to possibly purchase a vehicle for a base price of $7,300, (rather than the originally targeted price of $6,800).
According to KTBS news, the car company had a $123 million in debt with $101,317 in the bank as of Sept. 30, 2016.