To be technically correct, Elixir is compiled into "Erlang Abstract Format, which is a standard representation of an Erlang AST using Erlang terms." [1] From there it compiles down to bytecode using Erlang tool chain.
So saying that Elixir is transpiled to Erlang is incorrect: it compiles to Erlang AST.
Hah, sorry, also posted a similar response in parallel but on parent! I had to google though, I couldn't remember if maybe Elixir used Core Erlang, I'm still a little fuzzy on where that's used and if any important relation to Erlang Abstract Form