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Elio Motors Locks In Price for Its Ultra High Mileage/Ultra Low-Cost Vehicle at Historic Level
Elio Motors Locks In Price for Its Ultra High Mileage/Ultra Low-Cost Vehicle at Historic Level.
About this update from Elio Motors Inc
[{"type":"text","content":"\n\n\n\nElio Motors Locks In Price for Its Ultra High Mileage/Ultra Low-Cost Vehicle at Historic Level\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nElio Motors Locks In Price for Its Ultra High Mileage/Ultra Low-Cost Vehicle at Historic Level\nNew American Transportation Company Prices Vehicle Less than 1968 VW Beetle (adjusted for inflation); $7,300* Base Price Set\nPR Newswire\nPHOENIX, Aug. 12, 2016\n\n\n\nPHOENIX, Aug. 12, 2016 /PRNewswire/ -- Elio Motors (OTCQX:ELIO), the start-up vehicle manufacturer planning to launch a three-wheel vehicle that will get up to 84 mpg, today announced it is establishing a vehicle purchase base price of $7,300* for its non-refundable reservation holders until the company reaches 65,000 total reservations.\n\n\nElio Motors aims to disrupt the American transportation industry with its low-cost, highly fuel efficient vehicle, much like Volkswagen did with the Beetle in 1968. The Beetle's $1,699 sticker price from 1968 is $11,767.92 in 2016 dollars. \n\n\"Volkswagen entered the market in 1968 with an extraordinary vehicle at an incredible price and shook up the industry,\" said Elio Motors Founder and CEO, Paul Elio. \"We are on the path to launching an extraordinary vehicle, as well, but are setting an even more aggressive and affordable price, and doing so in a way that will create American jobs, reduce our dependence on foreign oil, be better for the environment and strengthen American manufacturing.\"\n\nEstablishing a base price will allow the company's non-refundable reservation holders to lock in their purchase price until the company reaches 65,000 total reservations. It also allows Elio Motors to accept binding purchase commitments from non-refundable reservation holders. \n\nRevised guidelines recently published by the Department of Energy (DOE) in June 2016 now specify that start-up companies need to further demonstrate market acceptance through firm sales commitments. \"We have developed more than $350 million in pre-production sales with over 56,000 reservations, with the vast majority being non-refundable,\" sa...