Elio Motors: So long, farewell to your three-wheel hype
The fate of the much-hyped, low-cost, high gas mileage, three-wheel vehicle manufactured by Elio Motors may end before it starts. A report on the website Gas 2.0 details the company’s massive spending, substantial debt, and severe concerns it will continue. Elio Motors, which has touted its predicted 84 mpg futuristic vehicles for several years, has missed many deadlines for the vehicle’s debut. It has produced five three-wheel prototypes, but its prediction of creating 1,500 jobs at its Louisiana plant has never materialized. In a partial description of the company’s Securities Exchange Commission (SEC) filing on the Gas 2.0 site, Paul Elio, the company’s founder and president, reports an accumulated debt of $123,212,422 as of Sept. 30, 2016. In the company’s
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