BASF Chosen by Elio Motors as Supplier for Paints, Coatings and Finishes
World-Class Coatings Supplier Returns to site of former GM Shreveport Assembly Plant
PHOENIX, Dec. 12, 2016 /PRNewswire/ -- Elio Motors, Inc. (OTCQX: ELIO), the startup vehicle manufacturer planning to launch a three-wheel vehicle that will get up to 84 mpg with a set base price of $7,300*, today announced that it has named BASF Coatings as its official supplier of paints, coatings and finishes.
Elio Motors will provide vehicles in seven eye-catching colors – Licorice, Red Hot, Marshmallow, Sour Apple, Rocket Silver, Creamsicle and True Blue.
"BASF is a world-class organization, pre-eminent paint supplier and another excellent addition to our supplier team," said Paul Elio, founder and CEO of Elio Motors. "We are creating a head-turning, fun-to-drive vehicle and our color palette is an important element in this strategy. Having BASF's coatings expertise will help us provide visually stunning vehicles that will stand out from the crowd."
BASF previously operated in Elio Motors' Shreveport facility for nearly 30 years, supporting General Motors production of vehicles such as the Hummer H3 and Chevy Colorado.
"We are thrilled to be returning to Shreveport and to be a part of the Elio Motors team," said John Van Antwerp, BASF North America Global Key Account Manager. "As a leading innovator in automotive coatings and finishes, we are looking forward to helping Elio Motors launch a truly game changing vehicle."
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 air conditioning and cruise control, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio's first manufacturing site will be in Shreveport, Louisiana.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has nearly 17,500 employees in North America, and had sales of $17.4 billion in 2015. For more information about BASF's North American operations, visit www.basf.us.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
Forward Looking Statements
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 only and applies only until non-refundable and refundable reservations total 65,000. Total current reservations can be seen at: www.eliomotors.com. MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/basf-chosen-by-elio-motors-as-supplier-for-paints-coatings-and-finishes-300376600.html
SOURCE Elio Motors, Inc.
Released December 12, 2016