May 2, 2016 -- Elio Motors, Inc. the startup vehicle manufacturer planning to launch an enclosed three-wheeled vehicle that will get up to 84 MPG with a targeted base price of $6,800, today announced more than 52,000 people have put down money for a place in line for highly fuel-efficient, low-cost three-wheeler.
"Our 50 percent reservation bonus has always been intended as a reward for early adopters and is a thank you for their early support," said Paul Elio, founder and CEO of Elio Motors. "The customer response has been phenomenal and we are thankful so many people have shown their support by making a reservation." To date, more than 85 percent of reservation holders have chosen the non-refundable option.
Any potential customers who want to take advantage of the 50 percent reservation bonus can do so by placing a non-refundable vehicle reservation on or before May 31. In addition, any current reservation holders who want to upgrade their reservation – for example, a $500 non-refundable reservation turned into a $1,000 reservation – also can take advantage of the 50 percent reservation bonus before the end of May.
Elio Motors, which is targeting a launch in 2017, has achieved several milestones so far this year. In addition to crossing the 50,000-reservation threshold, the company's shares began trading on the OTCQX market. In addition, the company has finalized engineering designs for the engine cradle, interior, body panels and chassis for its E-Series testing vehicles. Assembly of the E-Series vehicles will begin later this month.
"There are a lot of hurdles to clear when you build a vehicle from the ground up, but we keep accomplishing goals – both big and small every single day," Elio said. "Our progress the past several months has been remarkable and we look forward to keeping the ball rolling with the upcoming E-Series build and pre-production vehicle launch later this year."
About Elio Motors
Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheeled Elio is engineered to attain a highway mileage rating of up to 84 mpg, while providing the comfort of amenities such as power windows, power door lock and air conditioning, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio's first manufacturing site will be in Shreveport, Louisiana.