In order to produce the 25 vehicle prototypes, Elio Motors has made a formal public stock offering to make its shares available to interested public to generate $25 million.
After receiving qualification from the Securities and Exchange Commission of its offering statement under Regulation A+, the company launched its formal stock offering in November last year.
Thus far, Elio Motors has already developed five prototypes which it named as P1, P2, P3, P4, and P5. It’s no use making the nomenclature of prototypes complicated, the company probably deduced.
The company has put on display all its prototypes in various motor shows, with the latest being the P5, which was showcased during the LA Auto Show late in November.
The independent American carmaker is positioning its groundbreaking three-wheel vehicle as a car for everyone. It also promises the next big thing in transportation with its innovative vehicle, which is set to go into mass production next year at its manufacturing facility located in Caddo Parish in Louisiana, using a portion of the former GM Shreveport Operations plant.
The company is still accepting reservations on its website with the assurance to early bird buyers that they will get their unit within the first year of production, ahead of the rest.