LOS ANGELES, Nov. 19, 2015 /PRNewswire/ -- Elio Motors today introduced its fifth generation prototype, the P5, at a news conference at the Los Angeles Auto Show. The company is targeting a launch date of late 2016 for its three-wheeled, enclosed vehicle that is expected to get up to 84 MPG and retail for a targeted base price of $6,800.
The P5 is the company's first prototype to feature the 0.9-liter, 3-cylinder engine designed specifically for Elio Motors by engine developer IAV.
"We are extremely proud to unveil the new Elio Motors prototype at the LA Auto Show today, among those who appreciate such a bold new approach to transportation," said Paul Elio, CEO of Elio Motors. "Adding our own specially designed engine is the heart of our vehicle prototype and is a significant step forward in our commitment to producing a low-cost, highly fuel-efficient vehicle. This puts our company one step closer to production and our ultimate goals of reducing our country's dependence on foreign oil, creating American manufacturing jobs and providing consumers with a low-cost alternative to traditional transportation choices."
As Elio Motors developed its revolutionary vehicle, the company quickly realized that no engine currently on the market had the combination of speed, power and efficiency that its customers would desire. With the new engine from IAV, the Elio is projected to go from 0-to-60 MPH in 9.6 seconds, have a top speed of more than 100 MPH and get up to 84 MPG on the highway.
Body Modifications Boost Aerodynamics, MPG
The front end of the P5 will be slightly longer and slightly more aerodynamic than its predecessor, the P4. The aerodynamic improvement will ultimately help with fuel efficiency. The longer front end looks more futuristic and stylish. The P5 also will feature side-exhaust that will replicate how the exhaust is likely to look in the final version.
During the past decade, automakers have put more emphasis on interior styling, amenities and functionality. Elio Motors has made several interior changes that will likely help differentiate the vehicle when it gets to production, including:
Elio Motors also upgraded the instrument panel for better aesthetics:
This Elio is generating interest from consumers, as more than 47,000 people have made a reservation for a place in line to purchase an Elio when they go to production. The company estimates upwards of 1,500 people will be directly employed at Elio Motors' Shreveport, Louisiana production facility. In addition, the Elio will use 90 percent North American content and create an additional 1,500 jobs from the supply base, Elio Motors corporate, as well as sales and service once full production is underway. Plus, approximately 18,000 indirect jobs nationwide are projected to be created or sustained.
"This project has a little something for everyone," Elio said. "Whether someone cares about the environment, the economy, our nation's manufacturing backbone, or they just want a unique and compelling vehicle to drive, Elio Motors will make a positive impact. 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. We look forward to keeping our momentum rolling."
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-wheeled 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 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. For more information, visit www.eliomotors.com or www.facebook.com/ElioMotors.
SOURCE Elio Motors