Paul Elio says, “It was 2008, gas prices were through the roof and wealth was pouring out of our country. Every night, I’d come home and watch the news and get angry about what was happening. I decided to do something about it.”
Paul thinks you shouldn’t have to be rich to own a car. In fact, he says transportation is the most important factor in getting out of poverty.
He also wants to create jobs here in the U.S. But what can one person do?
Launching a new car company requires a lot of money. “Everyone” says it can’t be done. That hasn’t stopped him.
In 2009, Paul launched Elio Motors to produce 3-wheeled cars that get 84 miles per gallon and cost just $7,300.
In February of 2016, Elio Motors completed a Regulation A+ Mini IPO. Today, the shares trade under the ticker ELIO and the company has a market capitalization of half a billion dollars.
Elio is taking reservations now for deliveries in 2017.
Read more on Forbes.
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