Johnny Cooper Albany, Oregon, Address: PO Box 271 | Dexter, MI 48130 | USA. Elio Motors isn't doing so well. Login/Register . A three-wheeled, 84-mpg fuel-sipper was never going to be a wild ride, but the one Elio Motors gave to Shreveport was plain unnecessary. It doesn't take a marketing genius to see that appeal for a car like this is limited, and by the time mass production happensif it happenswe'll likely have several automakers offering sub-$30,000, four-seat, four-wheel electrics which, unlike the Solo, Vanderhall, and Elio (which are technically autocycles), will qualify for tax incentives. BTW, cars are not investments. Home. I wouldnt buy stock in this company for the long term is all Im saying. The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. Pressed by local authorities and legislators, Elio never answered how he was awarded a prime sublease at the GM plant, what he planned to do with the money and tax breaks he was offered, and when his promise to workers laid off in 2012 by GM would finally pay off. Whereas if I just invested the money then I would be able to make money with that money while I wait. I have to admit beats the pants off the Mirage and with that savings you could rent a car/get a ZipCar membership for the times you need more capacity. Aside from the enginea 0.9-liter three-cylinder engine designed by Germany's IAVmost of the Elio's components were off-the-shelf parts from existing suppliers, which the company said offered huge opportunities for customization. Elio Motors, the company founded in 2009 by auto enthusiast Paul Elio and which has been promising a revolutionary autocycle since 2012, is back in the headlines. The companys website officially 404s now, long after its cars effectively did the same. Illustrated production [ edit] This section needs to be updated. PHOENIX, Sept. 9, 2021 /PRNewswire/ -- Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. 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. We dont give up.. I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. And the Mitsubishi Mirage, mustnt forget that: http://blogs.cars.com/kickingtires/2014/07/whats-the-most-affordable-car-in-2014.html. Production, it said,. It makes me think of a better less electric version of the Corbin sparrow. Answer: I have a friend who put down $1000 several months (maybe a year) ago. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. The safety issue isnt a big concern, as it is a far safer alternative to a motorcycle! I would imagine black would be a color. On the other hand, I was often on a Honda motorcycle. I was (and still am) waiting for Tesla to make a car that I can afford, but until then, this little car will do nicely and get almost double the MPG I get in my 2005 Honda Insight. That said, we can't help but think this announcement is an attempt to keep the Elio dream alive and the company afloat. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. I would buy one. Elio Motors, Inc. was founded in 2009 and is based in Phoenix, Arizona. Jul 30, 2016 Exclusive. Well it looks kind of cool to me. Despite no high-priced batteries in its drivetrain, it is anticipated to be rated at 84 mpg highway and 49 mpg city. In other words, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the gate. Residing in MO the helmet law question still got me on the side line. The debt load for this company is now dooming it. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. 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. Elio Motors, the startup vehicle manufacturer planning to launch a three-wheeled vehicle that will get up to 84 mpg with a targeted base price of $7,450, announced that AISIN Group has been. I would have actually considered owning one -but my wait and see approach turned out appropriate. Danny King. Looks hideous! 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. The official website for the company is www.eliomotors.com. [12], The idea of 100 pre-production fleet vehicles was teased in December 2016, however social media replies on Nov 1, 2017, from Elio Motors said, "We are targeting the start of production in 2019". Elio Motors assumes no obligation to update the information within this website. Dead end, over 10 years in the making and nothing at all to show. Sure, you might know them as Blue, White, Red, Silver, Green, Black, and Orange. Back in 2015 or thereabouts, the Arizona-based startup hit the auto show circuit with a two-seat three-wheel commuter car that it claimed would sell for just $6,800 (later increased to $7,450) and return 84 mpg. The only thing that saved me from putting down a pre-payment was because I didnt like the idea of giving the company an interest free loan for over a year just to stand in line. Would be nice to market a version for delivery services like grubhub, pizza hut or eatstreet. Sep 9, 2021. Imagine getting in your car and putting on a helmet. As previously noted, there is no rebel billionaire here - Elio has had to bootstrap its funding the hard way. I actually think that it looks kind of cool. The worst mpg I have got with it was 40, so I am pretty happy with it, However my concerns in a smaller car is always What happens if I get hit or anything like that. Americans are viewed as wanting big and fast vehicles and fails like the Smart are used to reconfirm those beliefs. The risk over a wider base. Elio even came up with an innovative financing scheme, effectively a secured credit card with the car as collateral. At this point, it looks like funding for Elio has all but stopped. Real-time analyst ratings, insider transactions, earnings data, and more. Up until this year, fuel efficiency was. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. It also has a fuel-sipping 0.9 liter, 3-cylinder engine. American Consumer News, LLC dba MarketBeat 2010-2023. 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 hope you didnt invest here. That will spread the word to the few that don't know what an Elio is. ", "Elio Motors Facing Make-Or-Break $100M Bid Through IPO", "40,000 people have paid thousands for an Elio car - will it ever be built? (We've driven the Solo, and those customers have our sympathy.) We'll keep an eye out for more Elio news, and we certainly wish the company all the bestas we do for the 65,000 hapless folks who put down deposits and never got a thing for it. But after the initial buzz faded, Smart turned out to be a dud. 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 I would buy if I needed low volume cargo work. Elio has been held out as one of the first great successes of the crowdfunding industry. To Elio, the interest is free money. What were trying to do is hard. I know this isnt a true blanket stereotype for everyone, but multi-billion dollar multinational automakers tend to see things in black and white and dont like taking risks to explore new niches. But it has not identified a viable path toward raising the hundreds of millions of dollars it says it needs to get there. Mark your calendar and go out as an Elio for Halloween (don't forget the Starbucks Venti Coffee). It would be a shame to need a motorcycle license to drive it but most 3 wheel vehicles in states I am familiar with require a motorcycle license. SO while an Elio would get my consideration, Im afraid I still wouldnt buy one, but thats because not leveraging electrical motors is, in my mind, the single biggest setback for any car emerging on the stage today. In addition, Elio Motors projected that 90% of parts for its vehicle could originate in North America. So many automotive startups underestimate how hard it is. 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. This is a different car though and its time is here. Throughout 2018 and beyond, reservation deposits remained closed, and there was no concrete plan in place to raise the nearly half-billion dollars to proceed. So innovation is severely lacking. You will be reported to the proper authorities for false advertising. Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. Plus, losing around $18M in 2019 and that same for 2020 is cool. A few prototypes to demo to the press. I think its when gas prices get to insane levels this car will be much more desired. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. Something closer to the truth can probably be found in this part of the press release: "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. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. Elio Motors promised a next-gen, 84 mpg car and got millions in deposits. Id have to see how solid this car is. I saw this same car back in the seventies. Its actually sad because it had such promise. And that was before the company has what USA Today estimates to be $28 million of deposits on which to make good, in addition to the $7.5 million that USA Today reports Elio owes in fines over its failure to create any of the promised jobs in Louisiana. I hadnt seen this before, thanks for posting about it. Advertisements in 2017 illustrated a base price target of $7,450 for the gas motor version and suggested to achieve up to 84 mpg-US (2.8 L/100km) on the highway and up to 49 in the city. But then the inevitable happened: The mid-2016 start-of-production date was delayed again and again. The price is right for me to buy one w/ no payments. The three-wheel electricElioisengineered to be the ultimate low cost commuter and fleet vehicle while providing the comfort of amenities. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. Stay tuned for a number of important and exciting announcements over the next few weeks on our path forward. 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. [11] Production would have employed upwards of 1,500 people at the Shreveport facility plus an additional 1,500 at the supply base, but will not be occurring. The car from 1975 looked very very similar. New posts Search forums. Id rather walk away from a totaled car than get myself killed. Click to get the best stock tips daily for free! I definitely didn't mean to sound like that. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? I agree, similar to a short distance electric car, this would make a great second family car. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. Sure, there is absolutely no concrete proof that Elio Motors were flat out lying about the release date of their three-wheeled commuter car of the future. Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. 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]. If the Elio-E appeals to you and you're thinking of reserving one, we say, maybe it's best to wait. Elio Motors assumes no obligation to update the information within this website. Drive-thru prevention? 326 E 8th St #105, Sioux Falls, SD 57103 I think as the years pass, we will get away from so much luxury and cars we may be use to and instead go the frugal route. 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. Per FTC guidelines, this site may be compensated by companies mentioned through advertising & affiliate partnerships, such as the Amazon Services LLC Associates Program, Impact, CJ, Quinstreet, etc. and last updated 2020-01-21 09:06:41-05. First blaming the economy, then blaming lower gas prices, then blaming the consistently expensive business of building cars, Elio pushed back production of its cars from 2015 to 2017 and said it needed to raise more than $300 million for production. Forums. How many of us just received the blandest-looking email "update"? Why? Plus, you could hand out Elio cards after you get candy. It may not display this or other websites correctly. Alas, it's been steadily dropping since. Because of the 3 wheeled aspect, it is classified as a motorcycle. Still, the Elio-E has the potential to be an interesting car. 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. When it drags a town along with it, it is. Elio Motors secured more 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand for its unique styling and design. If there were small-car only roads I would likely buy that in a second. They are, apparently, not dead yet with a dream that still lives. The projections, which did not include range, cited a possible $15,000 price. Published: 11 Sep 2021, . Because theres no evidence of that, ever.. This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week. In fact, once production officially kicks off, it will have an in-house-built 0. . For all intents and purposes, this is a car, not a motorcycle. In fact, without doing research, Id say you pay the same for a car in $ as you do in UKP, that makes cars in the UK 60% more expensive than the almost identical car in the US. Please log in to your account or sign up in order to add this asset to your watchlist. But Paul Elio, founder and CEO of Elio Motors, said in an interview with USA TODAY thathe believes the company can still succeed. I would absolutely buy this as my commuter car. Hargraves, an insurance salesman from Little Rock, Arkansas, placed a $1,000 deposit on the Elio, which was advertisedfor less than $7,000. Elio Motors secured more 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand for its unique styling and design. Elio Motors assumes no obligation to update the information in this press release. It offers vehicles under the Elio brand. All Rights Reserved. Technology, performance and design delivered to your inbox. The Phoenix-based automaker has signed a . Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. Despite a lack of transparency as to their path forward, Elio announced a December 2019 production date, which passed with no progress. Elio built a series of prototypes of the Elio G, some of which will be retrofitted into electric versions for testing. Did you read the agreement you signed when you put your $1,000 in? If the car does materialize, it already has competition: Electra Meccanica's three-wheel, single-seat Solo that offers 100 miles of driving range. It is also a much more visible item for other drivers to see. Regenerative breaking would help any cars fuel economy, not just electric. clarinet, bassoon duet. If youre new to the name Elio Motors, youre not alone. However, having a bigger car is a preference and the counter argument would be why buy a smaller vehicle with similar features compared to a larger one for the same price? 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. 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. What is the market capitalization of Elio Motors Inc Stock? 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. Phoenix, AZ September 9, 2021 Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. [15][16] In December 2016, the date was announced to have moved to 2018,[2] and on Nov 1, 2017 in a Facebook reply, Elio Motors mentioned the start of production aimed for 2019. A Honda motorcycle liter, 3-cylinder engine is here the few that n't. 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