PHOENIX, March 8, 2016 /PRNewswire/ -- Elio Motors, Inc. (OTCQX: ELIO), the start-up manufacturer launching a low-cost, highly fuel-efficient three wheeled vehicle, has engaged Liolios Group to lead a new strategic investor relations and financial communications program.
"We've now received more than 50,000 reservations and $21 million in deposits for our revolutionary, ultra-high mileage, targeted $6,800 base price two-person vehicle," said Elio Motors founder and CEO, Paul Elio. "We expect to convert these reservations into more than $315 million in sales. Last month, we were the first company to complete a capital raise under Regulation A+ — with nearly $17 million crowdfunded — and the first to have those shares trade on a public exchange."
"Given our new status as a publicly-traded company, we believe Elio Motors would benefit from an experienced team of professionals to help us navigate the capital markets and generate greater awareness of Elio Motors in the investment community," continued Elio. "Liolios Group brings a proven record of helping emerging growth companies like ours enhance shareholder value by delivering the right message to the right audience and establishing high-quality, long-term relationships with influential members of the financial community."
Liolios Group will work closely with Elio Motors management to develop a comprehensive capital markets strategy, including a potential uplisting to a broader exchange. Activities will include messaging and corporate positioning, strategic advisory and introductions to analysts, investors and other key influencers across the financial community. They will also schedule road shows and financial conferences for management to attend over the next several months.
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. The company's first manufacturing site will be in Shreveport, Louisiana. For more information, visit www.eliomotors.com.
Important Cautions Regarding Forward Looking Statements
Certain statements in this press release are "forward-looking statements." These statements involve risks and uncertainties, and the Company undertakes no obligation to update any forward-looking information. Risks and uncertainties that could cause the Company's anticipated sales of its vehicle to differ materially include, without limitation, delays in commencement of production, decreased consumer interest in the Company's products, downturn in general economic conditions, increased production costs and availability of raw materials, competition, and unfavorable market and regulatory conditions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. Readers are referred to the Company's periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The information contained in this press release is a statement of the Company's present intentions, beliefs or expectations and is based upon, among other things, the existing business environment, industry conditions, market conditions and prices, the economy in general and the Company's assumptions. The Company may change its intentions, beliefs or expectations at any time and without notice, based upon any changes in such factors, in its assumptions or otherwise, and it undertakes no obligation to revise or update publicly any forward-looking statements for any reason. The cautionary statements contained or referred to in this press release should be considered in connection with any subsequent written or oral forward-looking statements that the Company or persons acting on its behalf may issue.
SOURCE Elio Motors