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.
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.
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.
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.
