Could the End of Elio Motors Be In Sight?
Just 2 months after Elio Motors CEO Paul Elio told the Louisiana House Commerce Committee that production of his 3 wheel automobile would begin in Shreveport by the end of 2017, the company has announced another round of delays and says production will not start until late 2018.
However, according their latest SEC filings, any time frame they give may be a pipe dream. The company has accumulated a deficit of over 123 million dollars as of September 30,2016. Elio stated this about their financial situation in the filing: 'These factors, among others, raise substantial doubt about our ability to continue as a going concern. If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether.'