As Elio Motor’s little economical and affordable three wheeler cars are becoming more and more popular,’The Truth About Car’s has discovered that the company is in massive debt and needs $376 Million to even start production. The company has, even more, financial trouble ahead, with 65,350 pre-orders with 2017 Elio Motor’s projected growth is very much below their expected rate.
- After an assessment showing the company had $123 million in debt with only $101,000 in the bank as of September 2016, the future is now even more dire.
- Worse still, it only has 76 weeks to find the money if it has any hope of maintaining its self-imposed deadline.
- Currently, there are around 65,350 pre-orders with 2017 showing a much less impressive growth rate than 2016.
“Elio Motors’ U.S. Securities and Exchange Commission filing shows the company needs $376 million — $64 million more than the original previous $312 million estimate — to begin production.”