Who is Elio Motors?
Elio Motors is a vehicle manufacturer based out of the United States. They are a company that is looking to reinfuse the North American auto industry with levels of ingenuity not seen in ages.
The company has garnered the attention of auto enthusiasts over the past few years by teasing their long anticipate flagship product. With company successes resulting in Elio Motors raising significant funding to date, the company is now looking to host an STO, and raise the last needed funds to push their product into production.
What is the problem?
The average worker in North America lives a hectic lifestyle. This means working long hours, and unfortunately, extended periods of time in vehicles going to and from work. In the past decade, commuter travel times have risen to historically long durations. These long commutes lead to significant amounts of extra fuel being spent by each commuter.
These long commuter times are awful not only for those individuals forced to endure them, but for the environment as well. We have seen governments enact things like HOV (High Occupancy Vehicle) lanes in an attempt at reducing traffic congestion, and pollution. These however are not enough to mitigate the issues at hand.
A large source of the problem is the types of vehicle that manufacturers currently offer. There is a complete lack of affordable products aimed towards the average commuter. Whether a commuter chooses to use a small car, motorcycle, etc., they are continually forced to make sacrifices. These sacrifices come in the form of safety, purchase price, fuel efficiency, and more. The people of North America need a vehicle that is safe, affordable, efficient, and adaptable, all at the same time.
How will they solve it?
Elio Motors has recognized these problems noted, and in 2012 they set out to remedy the problem. Since that time, the company has produced a polished prototype vehicle that is ready for production. Dubbed as ‘The Ultimate Commuter Vehicle’, Elio motors has titled this flagship product the ‘E1C’.
Elio Motors embraces what it feels is missing in today’s commuter cars, and hits the mark for each with their offering.
- Fuel Efficiency
- E1C will have 49mpg City / 84mpg Hwy
- Fully equipped with today’s standard equipment such as airbags, ABS, crush-zones, etc.
- Made in the United States
- As this is a vehicle targeted towards a U.S market, the company has ensure 90% of the vehicle is sourced from the U.S. The production of this vehicle is expected to result in over 1500 U.S jobs.
- The average consumer cannot afford to purchase an expensive vehicle just for commuting. This is why the E1C comes in at a mere $7,450, making it accessible to a broad market.
While the company has raised money in the past, they are looking to do so once again. This time Elio Motors will be hosting an upcoming STO. The sale will be overseen by JonesTrading. After a mandatory lock-up period, the company has stated that trading on secondary markets will be available on the tZero platform. This isn’t surprising as the company has received investments and the full endorsement of tZero founder, Patrick Byrne.
During this sale, accredited investors located within the United States will be able to purchase security tokens known as the ElioCoin. These tokens represented a direct share within the company itself. Full details on the inner workings of the tokens has not yet been released. This information will be made available to those interested upon closing of their current private-sale.
Below are a few of those in charge at Elio Motors. These individuals are hoping see the E1C leave the production line by 2019.
Paul Elio – CEO
Tim Andrews – VP of Marketing
Michael Bolas – Director of Engineering
Spencer Lott – Corporate Controller
With interest and need at an all-time high for a product such as the E1C, the next crucial step for the company is the final execution. Elio Motors has had multiple rounds of funding completed in the past, getting them to the point that they are today. Upon completion of their upcoming STO, the company should be in the position to allow them to finally fulfill their more than 65,000 pre-orders for product.
As with any security token, the ElioCoin stands to benefit from the perks of blockchain. This means that potential investors will gain unprecedented liquidity and transparency of their holdings. With these benefits, the company should be able to meet their goal of raising $25,000,000 via an STO with relative ease.
To learn details about the project, please view our Elio Motors Token Listing page.