US automotive startup Elio Motors set an equity crowdfunding precedent after the Securities and Exchange Commission (SEC) last week qualified the automaker to launch a $25m stock sale under Regulation A+.
Elio Motors was founded in 2008 by Paul Elio, now CEO, and aims to begin production of its three-wheel P5 prototype by late 2016. Production is set to take place in America, with the P5 boasting up to 84 miles per gallon and means the P5 can achieve an impressive 672-mile range out of an 8 gallon…
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