Elio Motors P5 Prototype is Good for 84 MPG

The $25 million raise will be utilized to bring the vehicle into production by 2016.

The P5 is motivated by a 900cc triple-cylinder engine that IAV specifically developed for Elio Motors. It can reportedly sprint from 0-60 miles per hour (96 km/h) in 9.6 seconds and reach a top speed of more than 100 miles per hour (160 km/h).

According to Elio, the brand-new P5 has great fuel economy, featuring between 84 and 81.6 mpg.

Called the P5, the new three-wheel Elio is fractionally longer than the P4 concept before, but is said to have better aerodynamics.

“Our goal is to alter the course of American transportation, and with today’s breakthrough, we are one step closer to this revolution, not just for drivers, but for anyone who believes that a good idea has the power to change the world”, said Elio Motors founder Paul Elio. The aerodynamic improvement will ultimately help with fuel efficiency. The P5 also will feature side-exhaust that will replicate how the exhaust is likely to look in the final version. The rear seat has been lowered an inch for more headroom and the seats have more foam for comfort.

During the past decade, automakers have put more emphasis on interior styling, amenities and functionality.

Visual assets for StartEngine and Elio Motors can be downloaded here. Elio has already targeted a former GM plant in Shreveport, La. for manufacturing and has stated the company expects to create 1,500 jobs at the facility and another 1,500 jobs at supplier companies. Plus, approximately 18,000 indirect jobs nationwide are projected to be created or sustained. The engine design is by Elio itself.

Now Elio says it is focused on launching the auto first in the U.S. before it considers other markets. The P5 build is another important step in our march toward production and is the culmination of several important strategic initiatives we have completed or launched in the past several months.

That’s why the Elio comes with three airbags, proper seat belts, ABS brakes and a full roll-cage – despite not needing any of them to comply with USA legislation. Elio, one of the very first issuers to leverage the Testing the Waters aspect of Reg A+, received substantial investor interest.