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Friday, 06/16/2017 8:27:20 PM

Friday, June 16, 2017 8:27:20 PM

Post# of 1854
(Credit: Elio Motors )
Car Manufacturer News
Elio Motors Needs A Quick $25 Million

By

Steven Symes
Published on Jun 16, 2017

Comment

Remember Elio Motors, the company that was going to revolutionize how we get around with a weird three-wheeled “car”? It’s in serious trouble. The good news is with a quick $25 million, it can make things right.
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One of the many problems Elio faces is the fact hit hasn’t paid its RACER Trust bill since October of last year, according to KSLA-12, a news station in Louisiana. That was for a $23 million loan, or money to set up shop in an old GM plant. Add to that amount $1.7 million in back payments, plus an 18 percent interest rate that just keeps racking up the tab.

http://www.insidercarnews.com/elio-motors-needs-a-quick-25-million/