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Elio Motors Needs Just $64M More to Bring Trike to Life

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.

Key Takeaways:

  • 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.”

https://www.thetruthaboutcars.com/2017/05/elio-motors-needs-just-65m-bring-trike-life/