The ultra-frugal three-wheeler costs $7,300, up from the previous $6,800 sticker.

Elio Motors has announced a starting price of $7,300 MSRP for holders of non-refundable reservations which represent more than 85 percent of all 56,000+ orders received in total by the company. Those who have a refundable reservation can make the switch to a non-refundable one and lock in the base price for the high-MPG vehicle which originally was supposed to cost about $6,800.

It is important to mention the new $7,300 base price is applicable for up to 65,000 cars, so at the moment of writing there is still room for around 9,000 more people to lock in the starting price of the 84-mpg vehicle. Elio Motors has a $300 incentive (lowering the price to $7,000) for both current and future customers willing to sign a binding agreement to buy the car, but keep in mind this one too is available only for non-refundable deposits until 65,000 total reservations.

We checked the company’s website and discovered there are exactly 56,411 total reservations at this point. It means that in order to take advantage of the locked-in price, you’ll have to be among the remaining 8,589 people to make a non-refundable deposit, and sign the aforementioned binding agreement to get the $300 discount.

Production of the car is scheduled to begin in 2017 at a factory in Shreveport, Louisiana where Elio Motors will directly employ up to 1,500 people, with a further 1,500 from the supply base and around 18,000 indirect jobs across the country. The company has established an annual production target of 250,000 units, and to get there, it has applied for an Advanced Technology Vehicles Manufacturing (ATVM) loan program worth $185 million from the U.S. Department of Energy (DOE).

Source: Elio Motors

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