Elio Motors is something of a brash company.
Gary S. Vasilash
Editor-in-Chief, AutoBeat Group
Phoenix-based Elio Motors Inc. says it will use an existing engine from an unnamed carmaker in its long-overdue three-wheel car rather than adapt a 20-year-old 3-cylinder engine as the company had previously planned.
Struggling three-wheel-car startup Elio Motors Inc. has sold $2.5 million of newly issued common stock shares to online retailer Overstock.com.
Startup Elio Motors Inc. is scrambling to launch an initial public offering so it can raise $100 million needed to launch production of its three-wheeler in 2019.
Cash-strapped Elio Motors Inc.is pushing back the planned launch of its tiny three-wheel vehicle from late this year until sometime in 2018, the company says in a Facebook post.
Elio Motors Inc. continues to tweak the three-wheel vehicle it plans to launch late next year.