Elio Motors Finally Gets Funding to Mass Produce Three-Wheeled Car in 2016

While reports last week appear gloomy for Elio Motors in terms of funding support for its breakthrough three-wheel vehicle that offers an extremely remarkable 84 miles per gallon fuel efficiency rating, it seems that the company has finally come through in raising the needed $240 million to mass produce its incredible car.

Digital Trends disclosed that following the successful supplier summit in Michigan recently, Elio Motors subsequently announced that it will build a fifth-generation prototype of the car which it shall call as the P5 soon before mass production begins in 2016.

In January, Elio Motors founder Paul Elio revealed that his company has already raised $65 million of the required $240 million initial capital to manufacture the breakthrough three-wheeler.

He has since been opening the company to partnerships and other investors in the hope of finally making the three-wheel car a reality. A prototype of the Elio P4 has been showcased in recent motor shows and according to Paul Elio, the vehicle will come out with a retail price of $6,800, which would make it safe, incredibly fuel-efficient, and very affordable to the masses.

Elio also said that he wanted to raise funds for the company to ensure that the mass production of the vehicle starts no later than 2016. It seems like Elio and his company have meet their initial target for funding support so production goals for the car will be on schedule, including the possible launching of a production version of the three-wheel vehicle in the middle of next year, which is to be the P5.

Strategic initiatives

In his latest statement, Paul Elio said that the company’s strategic initiatives really paid off as they really buckled down to work with the end in view of meeting the production targets for the car.

He added that the completion of the P5’s engine prototype, the company’s buy-in offer to accredited investors, and its recent supplier summit, are just part of their strategic initiatives to ensure that Elio Motors will achieve progress every day.

Elio also said that the company is just fortunate to be able to work with some of the most well-respected and notable auto supplier companies in the world, which were also given their voices in the development of the P5.

The P5 is based on the P4 prototype but it shall have add-on features and amenities including power windows, power door locks and air conditioning.

Positive impact in the US

Elio Motors

Even when he and his company were still in the middle of implementing their strategic initiatives to gain funding support, Paul Elio was already thinking big, confident that his company and its first product would have noticeable impact on national petroleum use in the US.


  1. Where did this ‘windfall’ ($230 Million) of funding come from? NOT from the sale of ‘surplus equipment (so far only $56,778.05 in sales reported); NOT from previous SEC filings (less than 02% of $70 million offered); NOT from CURRENT SEC filing (only $150,000 disclosed)?

  2. Elio motors is a privately held company and is not required to disclose their financials.

    I’m sure it’s tough for an Elio detractor to see some forward progress in the project. After all, when the Elio vehicle is a success, what will you have to complain about?

    It’s likely, you’ll find something.

    1. or someone sick of Paul missing EVERY deadline he set, and not falling for another one. Remember in 2013 he said he was not looking for investors and had the funding, but then he didn’t………..looking for funding and loans even though he had enough investors? No, someone sick and tired of him misrepresenting himself.

  3. Elio had applied for a $180 million “Advanced Technology Vehicle Manufacturing” (ATVM) loan through the United States Dept. of Energy. Last I heard, they had passed the first of 3 phases. They may have completed the process and got the loan. :)

    1. The “First Phase”, was just ‘submitting the paperwork request’….. Big Deal! Haven’t heard of the last two “Due Diligence” (proving that they can demonstrate “at least 75mpg”), and “Setting the ‘terms’ of the Loan”….. because, they have not “QUALIFIED” yet!

  4. I just want them to get it up & running before my fifteen year-old Toyota completely dies.

  5. Folks, this is a Ponzi scheme. Unlike an Elon Musk who has the funding BEFORE the project ever gets off the ground, this is yet another ‘game-changing” transportation wet dream that will end with a lot of tears and post-mortems. These attempts at revolution nearly 100% of the time come to a sudden and painful end because they are underfunded. Note that the website mentions nothing about the delays – no real news, just press releases. And, pently of opportunity to get All-In with no possibility of a refund to your deposit. My friends, if it smells like pooh-pooh, it probably IS pooh.

    1. Elon Musk has a car company funded solely by the US taxpayer that has never come close to running in the black. He didn’t ask me if I wanted to invest in his $70,000 electric car.

      1. Way to distort things. The only reason Tesla doesn’t operate in the black is they keep spending money on expansion, infrastructure, and future projects.

  6. Truth, optimism and love for a company that is trying to make this country a better place for ALL of us to live is hard for some people to comprehend. Paul Elio is welcome at my table anytime.

  7. What funding did they get? If they got the $240 million they would have shouted it from the rooftops, but I haven’t heard anything from Elio or any other media.

  8. Scott Baldwin what is your relationship to Elio? It obvious you’re cheerleading for them where ever you can- on message boards, FB etc. Since youre so positive about the car coming to market tell us why we should find you credible?

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