Shreveport, LA (PRWEB) January 16, 2015

Elio Motors, which is launching a $ 6,800 vehicle in an effort to rise up to eighty four MPG, today announced that it’s now targeting manufacturing first 1/2 of 2016 and will not enter manufacturing segment in late 2015.

the company is pursuing various financing strategies, the sale of surplus gear from the Shreveport facility and a couple of private financing options. As quickly as one of these choices comes thru, Elio Motors will be capable of pinpoint a selected date for the car launch.

it is very important emphasize that Elio Motors has an extraordinary asset of surplus equipment positioned within the Shreveport plant. at the moment Elio has $ 17 million of its surplus gear listed on the market (, which represents less than 15% of the excess belongings listed. This is only one doable choice that insures our capital desires shall be met for the next stage.

Elio Motors has additionally retained company fuel Securities, a big apple-based FINRA registered dealer seller to act as financial guide and placement agent in its fundraising efforts.

“we are at the moment working on a couple of financial methods, and are assured funding might be secured,” stated Paul Elio, CEO of Elio Motors. “it’s too untimely to provide an expected 2016 manufacturing date presently. however, whichever financing strategy has the shortest route to completion would be the person who sets up the remainder of the timeline.”

Elio Motors continues to make important development in its mission to change the best way americans take into consideration commuting. The design of the enclosed three-wheeled vehicle is sort of complete and the company has secured a global-type manufacturing facility in Shreveport the place common Motors in the past constructed the Hummer H3 and Chevy Colorado. The automobile has developed an enthusiastic grass-roots following and nearly forty,000 individuals have made reservations for a spot in line to purchase one after they go to production. The automobile was lately named by readers as the object they might most prefer to take residence from the consumer Electronics convey, beating out new merchandise from tech giants reminiscent of Samsung and HP (

“Our group continues to push forward relentlessly day by day and we are making significant development as we push toward our final goal of manufacturing,” Elio stated. “We recognize that our consumers anxiously watch for a firm manufacturing launch date for the first 1/2 of 2016 and we hope to stable the essential funding to make this occur quicker than later. I, our team and our Board of administrators are committed to bringing a global-class vehicle to market and no person needs this to occur more quickly than the Elio Motors group.”

When the Elio goes to market, it will create 1,500 jobs on the firm. as well as, the Elio will use 90 percent North American content, growing another 1,500 jobs at its supplier accomplice corporations. These manufacturing jobs will in turn create approximately 18,000 indirect jobs across the united states of america.

Elio Motors sees more than one markets for its automobile, together with consumers who nonetheless want the occasional performance of a decide-up truck, sport utility vehicle or minivan, but are on the lookout for an affordable, gas efficient automobile for their solo using. the company sees the Elio as an “and” vehicle – buy a larger automobile for those instances whilst you want the functionality, but use the Elio for solo commuter journeys. as an instance, 76.three % of all commuters force solo to work each morning consistent with the U.S. Census Bureau.

About Elio Motors

based through automobile enthusiast Paul Elio in 2008, Elio Motors Inc. represents a innovative solution to manufacturing an ultra-high-mileage vehicle. The three-wheeled Elio is engineered to attain a highway mileage score of up to eighty four mpg while providing the alleviation of facilities corresponding to energy windows, energy door lock and air-con, accompanied through the security of a couple of air baggage and an aerodynamic, enclosed car physique. Elio’s first manufacturing website will probably be in Shreveport, La. For extra information, seek advice from or