Elio Motors Finalizes Second Engineering Vehicle, Ships it to RedDOT in Seattle to Launch HVAC Testing
Vehicle manufacturer continues validation and engineering process, testing ABS in Michigan, HVAC in Washington on march toward production
PHOENIX, Sept. 19, 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 with a targeted base price of $7,300*, today announced it has shipped one of its E-Series testing and engineering vehicles to RedDOT Corporation in Seattle for heating, ventilation and air conditioning testing.
Soon after officially announcing RedDOT as its HVAC partner last week, Elio Motors loaded a recently completed E-Series vehicle onto a vehicle transport trailer and shipped it from its Pilot Operations Center in Livonia, Mich., to RedDOT in Seattle. This week, RedDOT will begin testing air-flow, defrost, refrigerant charge, air conditioning and heater performance tests at extreme temperatures ranging from 0 degrees F to 110 degrees.
Elio Motors is planning on building 23 vehicles, dubbed the E-Series, for engineering and testing purposes. The company is currently conducting Anti-Lock Brake system testing on an E-Series vehicle at Continental Automotive in Auburn Hills, Mich.
"The testing and validation process is giving our engineering team feedback on our designs that will help us make subtle changes to reach our safety, fuel efficiency, cost and performance targets," said Paul Elio, founder and CEO of Elio Motors. "Revolutionizing the transportation industry with a unique, disruptive vehicle requires hundreds, maybe even thousands of small, but crucial decisions and the E-Series testing and validation process will help get us there."
Over the past several months, Elio Motors' progress toward production has been accelerating. Among milestones that the company has achieved recently:
- Raising nearly $17 million through a Regulation A+ stock offering
- Publicly listing its stock on the OTCQX;
- Launching its innovative new ePlus mass personalization system, and
- Unveiling the first in a series of engineering vehicles (the E1-A) utilized for final testing and validation purposes.
"Every day, we're making progress on our march to production," Elio said. "The E-Series testing and validation process is one of the most important phases of our development and it's exciting for our team, our suppliers, reservation holders and our fans to see the momentum we're gaining."
About Elio Motors
Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheel Elio is engineered to attain a highway mileage rating of up to 84 mpg while providing the comfort of amenities such as power windows, power door lock, cruise control and air conditioning accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio's first manufacturing site will be in Shreveport, La.
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company's periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the Company on the date of this press release. Elio Motors assumes no obligation to update the information in this press release.
* MSRP for non-refundable reservations, up to 65,000 total reservations, and excludes destination/delivery charge, taxes, title, registration, and options/installation.
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SOURCE Elio Motors
Released September 19, 2016