Elio Motors shifts into high gear at Detroit’s NAIAS
Elio Motors definitely showed a bit of both.
We showed the automotive world our recently revealed P5 prototype and talked with global media, other automakers, and a variety of industry executives and engineers about our vision for transforming how people think about personal transportation. As always, the P5 was well received, stopping people in their tracks when they noticed the targeted price, fuel economy, or simply the eye-catching design. The P5 definitely shined brightly at the show.
- The success of our Regulation A+ stock offering – To date this offering has raised nearly $16 million, which is more than the $12.6 million needed to move to the next phase of development on the vehicle – building our E-Series prototypes.
- The closing of our current Regulation A+ offering on February 1 – Anyone interested in taking advantage of the Regulation A+ offering has untilFebruary 1, 2016 to purchase stock.
- That Elio stock will soon be traded on the OTCQX Exchange – Elio Motors has filed to trade its stock on the OTCQX exchange, the top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. Speaking of the Regulation A+ stock offering process, Paul said, “I believe we are the first company to go through the whole process of test-the-waters, take Reg A+ investments, and then list publicly.”
- The E-Series prototype build commencement – Now that funding is secure, work has begun on the E-Series prototypes, which will be used for a variety of testing and engineering purposes, allowing the company to move toward production.
- Commitment to using North American Content – Elio Motors announced that MTX Audio will assemble the Elio audio system in the United States.
That’s a lot to wedge into one 30-minute news conference… but we weren’t done there. Today, Elio Motors also reached out to television and radio reporters as well as Internet media on a Satellite Media Tour, the first day of Industry Preview Days. In total, Paul reached more than one million consumers with the Elio Motors message of affordability, fuel efficiency, and American jobs.
Of course, being in the spotlight is nothing new for Elio Motors or for Paul. When you’re doing something revolutionary or unusual or, to use a currently popular business term, “disruptive,” people take notice. This is how we tell the Elio Motors story and how we will continue to make sure that people who want to buy into the future of transportation will have the opportunity.