By 2018, nearly all funds had been depleted, with nearly US$50 million in outstanding debt, and a projected US$376 million required to reach production. This is a different car though and its time is here. Sign in to your free account to enjoy all that MarketBeat has to offer. I wouldnt buy stock in this company for the long term is all Im saying. Remember Elio? Some guy (I think a politician down there) claims they sold it all. http://insideevs.com/monthly-plug-in-sales-scorecard/. While I can appreciate the ingenuity behind this and hope that many people use it, I dont find myself in the target user group. Since 2009, not much more than a promise has ever materialized from Elio Motors or its founder, Paul Elio, despite assurances that somethinganythingwas just around the corner. greater longevity of engine life due to cleaner fuel The. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. Up until this year, fuel efficiency was. I like the 3-wheel premise and while I wouldnt buy it in orange, I would definitely pick this car up as a very cost-effective, fuel-efficient commuter vehicle. Until then Elio is making money on that money sitting in an account. Herein lies the problem. Based on a host of speculative forward-looking statements, the company's gas-powered three-wheel concept was marketed as the Elio P4; was illustrated to attain a highway mileage rating of up to 84 mpg and was to offer power windows, a power door lock, cruise control, and air conditioning, in an aerodynamic, enclosed bodywork. When a bigger car or a pick up truck hits into it in an accident, whos going to have minor scrapes on the fender, and whose car is going to be totaled with the driver getting severe injuries or death? Paul Elios first car business had collapsed. Dead end, over 10 years in the making and nothing at all to show. The safety issue isnt a big concern, as it is a far safer alternative to a motorcycle! One word of warning, do not paint it yellow. But it has not identified a viable path toward raising the hundreds of millions of dollars it says it needs to get there. On the highway, the amount of front facing surface (total of width by height) determines the amount of air the car has to push out of the way to travel. On a side note, the end of October will be the Elio 10th anniversary. These statements involve risks and uncertainties, which are described in more detail in the Companys periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Elio promised a hard-hit Louisiana city 1,500 new auto jobs. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. Technology, performance and design delivered to your inbox. Elio Motors lead by Paul Elio developed a three wheel car that gets 84 mpg hi Show more Show more Shop the Scotty Kilmer store $28.98 Spring $29.98 Spring $28.98 Spring $29.98 Spring Don't. You paint that bad boy black and its like having your own Batmobile! Please help update this article to reflect recent events or newly available information. Elio Motors was fined $545,000 for violating state licensing laws and in order to appeal the ruling the company had to move $76,500 into a trust account; Elio appealed the fine to the Louisiana . Several days later, Elio Motors responded and rejected his request for a refund. Get daily stock ideas from top-performing Wall Street analysts. Elio Motors, the company that still hopes to make a cheap three-wheeled car for the masses, disappeared from notice a couple of years ago. It may not display this or other websites correctly. You will be reported to the proper authorities for false advertising. This week has been a tough one for automakers in general, with Ford, GM and Toyota all announcing monthly declines in new car sales - the first time that's happened since 2009. For more info see the elioowners.com website. ELIO News Today | Why did Elio Motors stock go up today? You could put a little bat logo peel-off sticker on the hood! Say. We are sure that you have a lot of questions that we will work to answer over the coming weeks and months. OTCMKTS:ELIO Elio Motors - ELIO News Today $0.01 0.00 (0.00%) (As of 02/28/2023 12:00 AM ET) Compare Today's Range $0.0125 $0.0125 50-Day Range $0.01 $0.03 52-Week Range $0.01 $0.75 Volume 3 shs Average Volume 314 shs Market Capitalization $369,750.00 P/E Ratio N/A Dividend Yield N/A The result? Which is true, no clue. Elio Motors raises price for reservation holders to $7,300. Urban and even suburban commuter (76% of all American workers drive to work alone), Low and low-middle class old, inefficient high-mileage beater alternative. They would drive it to cities all over America and try to get locals to support it but it was just a scam to get citizens money. I like his business acumen. Smarts problem was being the baby of a european market where his vehcile prices are the norm. I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. It offered a lot of promise. 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Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. Requests to Elio Motors for any information are simply answered with read the blog. Alas, it's been steadily dropping since. Identify stocks that meet your criteria using seven unique stock screeners. 2023 Elio Motors Inc. All rights reserved. My enthusiasm is genuine and I am definitely not alone the Elio already has 65,000 paid reservations. Hundreds of institutional investors are looking to invest in the electric vehicle market. All Rights Reserved. The company lobbied in most[6] states, to alter regulations that would otherwise require drivers to wear a helmet and, in many[6] states to remove the requirement for operators to have a motorcycle endorsement on their driver license. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly thereafter, the company wrote on its Facebook page in 2021,its most recent post. After several check-ins over the years, he emailed Elio Motors one more time in April 2021 to see whether there was "any chance" production would begin sometime soon. Considered, but if they sold these with All rights reserved. General Elio Discussion. 40 talking about this. The year 2018 arrived and Elio Motors was still alive and breathing, though by now it might have been company officials that were looking a bit green around the gills (that was the last green joke, I promise) In April, Elio announced that in order to raise much needed funds, it was starting its own cryptocurrency called ElioCoins. 100% hydrocarbons simple doesnt make sense any more. I dont see a city estimate for MPG. The Elio-E model has a targeted base at $14,900 making it the most affordable entry level electric vehicle on the market. Would be nice to market a version for delivery services like grubhub, pizza hut or eatstreet. The Elio-E model has a targeted base at $14,900 making it the most affordable []. Answer: I have a friend who put down $1000 several months (maybe a year) ago. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. ", "This Startup Will Buy An Old GM Plant In Louisiana, But Is Their Car Real Or Vaporware? [5] Elio's marketing suggested that 100 pre-production fleet vehicles could be built at its Shreveport, Louisiana manufacturing facility if additional funds are secured. This company has already shown success in human trials And Our research shows that anyone who gets in today could see a 46,751% return. For our family of three we need two cars that each seat 3 people so my husband can drop the little one off at daycare, I can pick her up, and we can all go out to the grocery store together. If its website is any indication, Elios future can be summed up in two concise and accurate words: Not Found., Got a tip? When it initially launched, Elio secured space in a former General Motors assembly plant in Shreveport, Louisiana, by promising more than 1,500 manufacturing jobs in the town by the end of 2015. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. Im a bit of a car geek when it comes to automotive fuel efficiency gains. Production, it said,. For now I like it but in 15 years. texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. In September 2021, Elio Motors announced that a new electric motor design was the company's focus, to be later followed by a gas motor option. this car would save me 2/3 of that and quickly pay for itself. To Elio, the interest is free money. From 1937 through 1954, Nash Motors was the automotive division of the Nash-Kelvinator Corporation.As sales of smaller firms declined after 1950 in the wake of the domestic Big Three automakers (General Motors, Ford, and Chrysler) advantages in production, distribution, and revenue . After one trip in that cramped little thing, I never got in one again until Honda made cars larger. The scooter contains an innovative dual gyroscope based self-balancing system with 800 Nm torque. dependence on American farmers for fuel source, not middle east I am thinking of parking an rv in a park and living there, a car like this would be perfect for commuting and running around while Im there. Have already looked into an old small car, but at 30 miles a gallon the car would probably break down before I received any return on investment. Id rather walk away from a totaled car than get myself killed. In other words, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the gate. I guess Im having trouble with the 2 cars that seat 3 comment. Getting fined in 2017 for unlicensed sales, Elio consistently failed to provide details on its plan to do much more than sell off tooling in the GM plant it occupied. Most of the engineering for proof of concept for the gas Elio-G can be utilized in the development of the electric Elio-E. Elio contacted its engineering partner Roush and their assessment was that the current design could be successfully electrified. It's unclear what, if anything, Elio has done with the deposits and money it collected over numerous rounds of funding nor is it clear what the future will be for its cars or plant in Shreveport. Forward-looking statements are made and based on information available to the Company on the date of this website. It should have been declared a scam, and Mr Elio prosecu. The trunk space is designed to be 271410inches, enough for one airline carry-on bag or golf bag with the rear seat folded down (47+ inches).[10]. I can see the financial benefits but the sacrifice in style is not worth it in my opinion. Elio's own estimate was that an investment of US$376,600,000 plus an additional US$110,500,000 in reservation deposits would be necessary in order to go into production. What could go wrong? This thing could do exactly what it purported to do, so why hasnt one of the worlds member of the billionaires club just go ahead and bankroll this project and get it to the masses already. Residing in MO the helmet law question still got me on the side line. Our email, [email protected], is available for your questions, which we will gather and share as we move forward. Cookie Notice 171 miles. I am for saving fuel. Elio has said they only sold what wasn't needed for the Elio. clarinet, bassoon duet. You must log in or register to reply here. So many automotive startups underestimate how hard it is. By then, the economy and gas prices had significantly changed since 2009, when Elio announced his plans, but the company maintained it would make good on its promises to Shreveport, Louisiana, and sustainability. http://www.goodcarbadcar.net/2011/01/scion-iq-sales-figures.html The other thing that knocks things off my list is the safety. I have been driving a 95 civic dx for a few years and average around 45mpg highway and city combined. Welcome to Elio Owners! Johnny Cooper Albany, Oregon, Address: PO Box 271 | Dexter, MI 48130 | USA. (This is news to us: When one of our staffers drove the Elio P4 prototype in 2015, there was no mention of an electric car.) A version for delivery services like grubhub, pizza hut or eatstreet of this.! 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