Elio Motors brought its P5 to the 2016 Detroit Auto Show, where the main announcement was related to the current stock offering that exceeds the $12.6 million goal needed to fund engineering and testing prototype vehicles.
Additionally, Elio Motors added MTX Audio to their supplier network, with the firm's founder and CEO, Paul Elio, stating during the press conference.
"As an example to our commitment to American-made content, I'm here to announce today that MTX, our audio supplier is devoted to assembling our audio in the U.S."
The Elio P5 displayed at NAIAS is basically the same prototype as the one shown in Los Angeles a couple of months ago. The three-wheeler previews a future production car that will launch afterwards this year and will be built in Shreveport, Louisiana, with a targeted price of $6,800.
Elio's vehicle is an evolution of the P4, with a longer and more aerodynamic front end, side-exhaust and a modestly revised interior with an upgraded instrument panel, a more robust iPad holder and new brushed trim.
Power comes from a 3-cylidner 0.9-liter engine that allows the P5 to reach 60mph (96km/h) from a standstill in 9.6sec and to go up to a top speed of more than 100mph (160km/h), while returning 84mpg (2.8L/100km) on the highway.