If Elio Motors fails, Canadian EV start-up will honor deposits
As Elio Motors continues its fledgling future, another start-up is seeking the opportunity to capitalize — if the long-promised but undelivered three-wheel fails. Elio Motors’ website lists more than 62,000 reservations for the futuristic-looking 3-cylinder vehicle its founder Paul Elio claims will get as much as 84 mpg. But a recent report on the website Gas 2.0 details Elio Motors loss of more than $123 million in its filing with the Security Exchange Commission (SEC). In the filing, Elio further reports its future is in jeopardy without additional fundings. In reaction to the most recent post on TheWeeklyDriver.com (we’ve written more than a dozen articles on Elio Motors), A Canadian EV start-up, Electra Meccanica Vehicles Corp., sent us a comment:
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