Would-Be Carmakers Tap the Wisdom, and Dollars, of Crowds
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A prototype of the three-wheeled, gasoline-powered vehicle that Elio Motors wants to build. The company’s founder says it would get 84 miles per gallon and have a $7,300 starting price. CreditPaul Sancya/Associated Press
AFTER Ford Motor came close to bankruptcy in the late 1970s, the company decided to bet the store on what was then a radical new design: what would come to be known as the Ford Taurus.
To develop, manufacture and market the car, Ford earmarked $3 billion — about $8 billion in today’s dollars — in hope of turning the company around.
These days, various entrepreneurs are betting they can build radically new vehicles using a tiny fraction of the investment Ford required. Their business models call for production of vehicles that range from three-wheeled cars priced below $10,000 to luxury vehicles meant to sell for six figures…
Would-Be Carmakers Tap the Wisdom, and Dollars, of Crowds
