Not Good News.

[Elio Amazed]

So what happened with the 100 cars that were suppose to be built?

Any answer to that question is going to be mostly deduction and speculation, because EM has never addressed the issue.
My take on it is that EM wisely hired Roush and Roush found what EM had done thus far to be so seriously lacking...
That they completely and radically re-did the entire frame. From a welded tubular frame to a stamped frame.
And they changed from a molded composite body to a sheet metal body.

As you can imagine, a lot of everything else except engine and interior then also had to be re-engineered and re-planned for...
In order for the rest of the Elio to fit the new frame and ever be truly capable of being efficiently mass-produced.
EM only raised $17M of the expected $25M and I think that even some of that had to go to StartEngine among others.

Bottom line IMO is that EM found out almost overnight that their perception of the vehicle they had at that point...
And their estimate of how much it would actually cost to build the 25 (pre-fleet) engineering prototypes was so off that... Well...
Consider it that they blind sided themselves by having to have their vehicle re-engineered by a world-class firm...

We do know by way of the SEC filings that the ~$17M (and much more!) got eaten up in an amazingly short amount of time.
I believe that even some of that got siphoned off for unrelated legitimate expenses, but that's just my speculation.

This topic has been discussed a lot here. There are old threads available if you use the search function to find them.

What really happened would have to come from the mouth of EM.
And what's left of EM has not been talking much lately.