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July 30, 2015 1:12 AM ET

Automobiles

Company Overview of Elio Motors, Inc.

Company Overview

Elio Motors, Inc. designs and manufactures passenger vehicles. The company intends to develop a three-wheel gasoline car which gives 70 miles per gallon. The company was founded in 2008 and is based in Phoenix, Arizona.

Phoenix, AZ 

United States

Founded in 2008

Key Executives for Elio Motors, Inc.

Founder, Chief Executive Officer and Director
Compensation as of Fiscal Year 2015.

Elio Motors, Inc. Key Developments

Elio Motors Unveils Engine Prototype

Elio Motors, Inc. announced it has unveiled its new 0.9 liter, 3-cylinder engine prototype, completing one of the company's most important stages of development. With a goal of up to 84 MPG and a projected top speed of more than 100 MPH, the enclosed, three-wheeled Elio requires an engine with a unique blend of power and efficiency that simply doesn't exist on the market . Elio Motors, which plans to sell the vehicle for $6,800 when it launches in the first half of 2016, turned to world-class engine developer IAV to create a new technology that would meet the company's needs.

Elio Motors, Inc. Names Dave Schembri to Board of Directors

Elio Motors, Inc. named Dave Schembri to its Board of Directors, providing additional expertise in manufacturing, marketing and operations that will help the company launch its revolutionary $6,800 vehicle that will get up to 84 MPG. Schembri is currently the CEO of the Active Aero Group. The majority of his career was realized in various executive positions at Mercedes-Benz and Volkswagen. At Mercedes Benz, Dave served as both the Vice President of Sales and the Vice President of Marketing. During his tenure, Schembri was responsible for several successful product launches while the company recorded 11 consecutive record years in new vehicle sales. Most notably, Schembri previously was the President of smart USA. He was responsible for the successful launch of smart USA (a division of Mercedes-Benz), which included establishing and maintaining a retail network, customer relations, advertising, marketing, PR, and all sales, service, and parts functions.

Elio Motors to Debut New 0.9 Liter, 3-Cylinder Engine Prototype

On Feb. 6, 2015, Elio Motors will debut the new 0.9 liter, 3-cylinder engine prototype with an official first start at a private event for investors, suppliers and media. The event will be held at the Plymouth, Mich., offices of IAV. In order to provide its customers with high fuel efficiency and still provide the performance consistent with passenger vehicles, the Elio Motors engine must operate efficiently at two different loads lower loads representative of highway cruising, and more demanding loads associated with the fast starts of city driving. The IAV team started with a three cylinder architecture and developed several Elio-specific components, including the cylinder block, cylinder heads, CAM cover, front cover, oil pan, crankshaft, camshaft, valvetrain, pistons, connecting rods, bearings and water pump. This allowed the engine development team the flexibility to keep the design simple, efficient and easy to manufacture while enabling all of the major fuel economy related attributes combustion system, friction and pumping energy to be enhanced. In addition to providing ultra-high fuel efficiency, the vehicle will go from 0-60 in 9.6 seconds and will have a top speed of more than 100 miles per hour. Elio and its manufacturing partner Comau will build the vehicle at a manufacturing facility in Shreveport where General Motors previously built the Hummer H3 and Chevy Colorado.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
July 8, 2015
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Private Placement
March 5, 2015
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