It used the MOS 6502 CPU, which was also used for the Apple I, Apple II, the Commodores and Atari and Nintendo (NES, SNES) game consoles!
https://www.youtube.com/watch?v=fWqBmmPQP40
https://www.youtube.com/watch?v=fWqBmmPQP40
Elite was very slow on the C64 because of the CPU speed. Line drawing and hidden surface removal were expensive.