Engine, Investment, E-Series Highlight Major Milestones on Path to Production
What do Mercedes-Benz, BMW, Bentley, and Bugatti have in common with Elio? Besides their great looks and high quality, all of these manufacturers share the same engine developer, IAV. The difference is that Elio owners will get world-class design and performance without a six-figure price tag!
Building an innovative vehicle like the Elio is a bold step. It requires dedication, passion, blood, sweat, and even a few tears. But, it is a whole lot easier when you have the right partners. That’s why we’re fortunate to work with industry icon, IAV. The expertise that the IAV team brings to the table takes the uncertainty out of building our own engine from the ground up.
The engine, which we first showed in March, is part of a drumbeat of important milestones this year. The engine also was part of one of perhaps our biggest milestone of the year – the Los Angeles Auto Show debut of the P5 prototype.
Another major step at the LA Show was the announcement that we launched a public stock sale. Access to capital is one of our most important keys to success and current offering has allowed us to lay the groundwork for what will be an important milestone in early 2016. We now have the funds to build our E-Series of engineering and testing vehicles, which is a significant step prior to finalizing our tooling and production plans.
Something we’ve talked about a lot lately is the importance of access to capital. As most of you may know, we have received authorization from the Securities and Exchange Commission under Regulation A+ to launch a $25 million stock offer. You can make an investment here.
All of these efforts – the engine, the fundraising, and the E-series – were an important part of the vision that founder and CEO Paul Elio was talking about in aninterview at The Motley Fool earlier this year.
Currently, we are going through the process of determining the exact build schedule for the E-Series based on which tests we need to run. As we’ve stated many times in the past, the Elio is engineered to meet the highest safety standards. The upcoming testing is an important step in making this a reality. As we continue to finalize the build schedule and launch the production on the E-Series, we’ll keep you posted right here.