There have been a lot of obstacles, but weve hung in there, Elio said in 2016, according to theShreveport Times. Elio Motors isn't doing so well. But just recently, the website became active again with a new announcement: The Elio will be reborn as an electric vehicle known as the Elio-E. Target price: $14,900. But Paul Elio, founder and CEO of Elio Motors, said in an interview with USA TODAY thathe believes the company can still succeed. 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. Then it fizzles out. My goal with this car, would not have been something stylish, so the looks of this wouldnt entirely throw me off. Some guy (I think a politician down there) claims they sold it all. I think it needs a third, and possibly a fourth, seat to meet those sales numbers. If the car does materialize, it already has competition: Electra Meccanica's three-wheel, single-seat Solo that offers 100 miles of driving range. As previously noted, there is no rebel billionaire here - Elio has had to bootstrap its funding the hard way. Your California Privacy Rights/Privacy Policy. Hundreds of institutional investors are looking to invest in the electric vehicle market. After securing more than 65,000 reservations totaling tens of millions of dollars, Elio Motors went silent in 2018, saying virtually nothing for three years until USA TODAY began looking into the company this summer. 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. With the Hughes Optioneering Strategy, youll soon learn that the safest option for new accounts is options themselves! Forums. Sep 9, 2021. The car from 1975 looked very very similar. A Russian agent, an eccentric millionaire and a new cryptocurrencymeant to help fund Elio Motors. And it couldnt be more wrong! It is also a much more visible item for other drivers to see. [9] The vehicle design has an overall length of 160.5 inches (4.08m) and an overall height of 54.2 inches (1.38m). There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. In early September 2021, the Phoenix-based company broke its silence by announcing it was pivoting to a $15,000 electric version of its car. Vehicle shown is the gas powered version. Elio has said they only sold what wasn't needed for the Elio. We are sure that you have a lot of questions that we will work to answer over the coming weeks and months. In the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. And yes, we are still here grinding every day to make the Elio a reality.". Elio has raised $60 million thus far, but is still quite a ways off from the $200 million it needs to roll out full production. Certain statements within this website including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. 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. It will only cost $7,450 (up from $6,800 as originally projected), with some nice standard features (AC, AM/FM/Aux/Bluetooth, power locks/windows). greater longevity of engine life due to cleaner fuel Danny King. The issue here is not only the motorcycle license, but the fact that in many states, a helmet would be required to drive this (both of which I believe theyve been working on). Smarts sell well there because price wise it is comparable. 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. Privacy Policy. The debt load for this company is now dooming it. 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 . 34 talking about this. Elio Motors Inc. (ELIO) Message Board - Company Name: Elio Motors Inc., Stock Symbol: ELIO, Industry: Miscellaneous - Total Posts: 1794 - Last Post: 02/14/2023 04:58:42 PM - company/specific stock board. You are using an out of date browser. An attached stock option to the first 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. They are on hold for now. Safety, first. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. [3], In January 2019, Elio stated: "The production date is estimated to be 76 weeks from the timely and successful completion of our current and subsequent fundraising efforts. The company focuses on developing the Elio, a three wheeled vehicle for mass production in the United States, which gives 84 miles per gallon. That will spread the word to the few that don't know what an Elio is. Id seriously consider it as it ticks the main boxes. Certain statements within this website including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. Now, lets be clear this car still has long odds to make it to market and even if it does, I dont expect it to become a mainstream best-seller or sell the 250,000 units per year the company is hoping for. That said, we can't help but think this announcement is an attempt to keep the Elio dream alive and the company afloat. . Because theres no evidence of that, ever.. They're still waiting. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. The production date is currently estimated to be next year, 2018, but many potential Elio owners are skeptical that the day will ever comeespecially as news keeps trickling out about Elio. I would imagine black would be a color. Same three wheel design. I drive for a living and this would be good for high mileage workers. 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. The three-wheel electricElioisengineered to be the ultimate low cost commuter and fleet vehicle while providing the comfort of amenities. I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. American Consumer News, LLC dba MarketBeat 2010-2023. If youre new to the name Elio Motors, youre not alone. When it drags a town along with it, it is. Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. Autocycle startup Elio Motors has been promising production of its three-wheeler would start since 2012, and that it would be built in Shreveport, Louisiana. Buyers to raise the additional 160 million [20] The Elio Motors Facebook page was similarly left without updates between April 2019 and September 9, 2021.[21]. Also nothing new. I honestly love the idea of this product but I dont think enough people will buy them to keep them around.If you look up mini car museum on YouTube you will find a video of hundreds of small extremely fuel efficient cars that promised the same thing but went out of business. The. The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. On the other hand, I was often on a Honda motorcycle. Last year, the company reported a $10 million loss in the first six months, according to the Phoenix Business Journal. I was commuting about 85 miles round trip everyday so it would have been perfect for that. The 84 MPG on the highway is mentioned often on the companys web page. vkgy is a visual kei library maintained by overseas fans. The Elio will be nicely equipped with power windows, power door locks, air conditioning and cruise control, accompanied by the safety of multiple air-bags and an aerodynamic, enclosed vehicle body. While weight and engine size are often pointed out as factors in MPG, in city driving the hybrids and electric cars have the functionality of regenerative braking. [7][8], The design targeted a curb weight of 1,350lb (610kg); three-wheel anti-lock disc brakes; an inline 0.9-liter three cylinder (designed especially for Elio by IAV), 55 horsepower (41kW) engine; and front-wheel drive, with a top speed of 107mph (172km/h) and an acceleration of 0 to 60mph (0 to 97km/h) in approximately 10.8seconds. Elio Motors was able to garner over 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand foritsunique styling and design. (844) 978-6257. "[17], This lack of an actual product over a near-decade long span has caused critics to call their car vaporware. Elio Motors, Inc. (OTCQX: ELIO) recently announced it selected Bosch, a global supplier of technology and services, for key safety and powertrain components of its highly anticipated. 4-6 hours. With Paul making $250K a year for such a revolutionary vehicle, we need to start sending him more money so he can get this dream to come true. Login/Register . If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. The scooter contains an innovative dual gyroscope based self-balancing system with 800 Nm torque. I am for saving fuel. Well it looks kind of cool to me. ", "This Startup Will Buy An Old GM Plant In Louisiana, But Is Their Car Real Or Vaporware? 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. Our email, tellmemore@eliomotors.com, is available for your questions, which we will gather and share as we move forward. Translationour guess, at leastis that someone at Elio figured out that off-the-shelf electric motors are cheaper than bespoke gasoline engines. Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. This has not happened on the time frame we thought. Mark your calendar and go out as an Elio for Halloween (don't forget the Starbucks Venti Coffee). Elio Motors, Inc. engages in the designing, developing and manufacturing of three-wheeled vehicles. Show me the crash test datathen I might buy become a believer. 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. Posted at 6:00 AM, Jan 21, 2020 . After one trip in that cramped little thing, I never got in one again until Honda made cars larger. [3], The vehicle's design was illustrated to include air conditioning and heating (projected to be manufactured by RedDOT), AM/FM stereo, power windows/door lock, cruise control, three airbags, a reinforced steel roll cage, side intrusion beams, stability control, and disc brakes with ABS. Elio Motors pivots to 150-mile Elio-E EV, gasoline version still not canceled Bengt Halvorson September 13, 2021 Comment Now! TSLA $194.76 2.52% MULN $0.423 3.63% AMZN $102.18 -1.17% BOIL $6.28 8.09% AAPL $151.73 -1.79% XELA $0.0660 10.37% Im glad I didnt put down the payment for the car since if its still not out to the market yet then thats pretty disappointing. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. Would be nice to market a version for delivery services like grubhub, pizza hut or eatstreet. Supposedly, Paul is still working towards getting funding. I work out of state months out of the year. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. 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. 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. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. I actually think that it looks kind of cool. I like his business acumen. Smarts problem was being the baby of a european market where his vehcile prices are the norm. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Still, the Elio-E has the potential to be an interesting car. The size and safety concerns me most on the Elio car, I love the idea of over 60mpg and find the cost well worth it, but around here we still have to travel on 2 lane roads semi-frequently and there are alot of those excessively oversided ford, chevy, dodge and toyota trucks. In the filing, it said that their vehicle would not be capable of production until approximately 76 weeks after securing enough funding to begin.[14]. Whereas if I just invested the money then I would be able to make money with that money while I wait. Each headline receives a score ranging from 2 (good news) to -2 (bad news). Elio plans to offer its base three-wheeled Elio-E at a targeted price of under $15,000, giving consumers an economical and safe entry level option into the electric market that is thousands below other competitors offerings. And there will be plenty of regulatory hurdles to overcome. When Bev Hargraves first saw Elio Motors' three-wheeled car prototype in 2013a tandem two-seater that promised 84miles per gallon he saw it as the perfect way to save money on fuel while driving to play in amateur golf tournaments. The Phoenix-based automaker has signed a . Which Dollar Store, If Any, is Worth Your Investment Dollars? Because of the 3 wheeled aspect, it is classified as a motorcycle. Drive-thru prevention? Elio Motors provides personal transportation alternatives that are fun to drive and built in the USA. In addition, Elio Motors projected that 90% of parts for its vehicle could originate in North America. SHREVEPORT, La. Find the latest Elio Motors, Inc. (ELIO) stock discussion in Yahoo Finance's forum. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. I guess Im having trouble with the 2 cars that seat 3 comment. I would have actually considered owning one -but my wait and see approach turned out appropriate. The plant in Shreveport is stillunder lease, and all of the critical manufacturing equipment is still in place. by using 100% ethanol fuel. The Elio was to be built at GM's shuttered Hummer plant in Shreveport, Louisiana, where the company promised to create 1,500 new jobs. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. I saw this same car back in the seventies. When the 3-wheeled, tandem-seated Elio first started making the rounds in the media a while back, I didnt really pay much attention because Ive been heartbroken before. Plus, you could hand out Elio cards after you get candy. Get Elio Motors News Delivered to You Automatically. But after the initial buzz faded, Smart turned out to be a dud. Elio Motors, Inc., a development stage company, designs, develops, manufactures, and sells automobiles. Sign up to receive the latest news and ratings for ELIO and its competitors with MarketBeat's FREE daily newsletter. This seems like it might be a good choice for someone who would want the MPG of a motorcycle without having to worry about weather. As Smart showed, you dont have to be big to be safe. Well these reservations do look good it is still unclear how many of these people have put down the full $1,000 "All In" deposit for an Elio. When he told me about it I went looking up the company and did a lot of research. Elio even came up with an innovative financing scheme, effectively a secured credit card with the car as collateral. I see a car as a method of transportation to get me from point a to point b. I wonder if it qualifies as a car or motorcycle. Eight years later, he still hasnt gotten his vehicle and he hasnt gotten his money back, either. BREAKING: Tiny biotech successfully treats blindness. 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