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What happened to Elio? They never produced a viable prototype, and finally ran out of suckers. After 4+ years of laughable prototypes, and production being just ~15 months away, even the suckers are realizing that this company just doesnât have the right stuff.
Story Highlights. 1  An entrepreneur is trying to launch a three-wheel, $6,800 car. 2  Paul Elio says he has lined up $50M in financing and secured a former GM plant for production. 3  But many have tried to produce three wheel cars in the past and failed.