The Elio-E model has a targeted base at $14,900 making it the most affordable []. The small automaker started more than a decade ago with a supremely lofty goal: 84 mpg, three wheels, for less than $7,000. On the other hand, I was often on a Honda motorcycle. 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. But, 'the intent had no basis in reality'. Elio claimed the autocycle could be produced using 80% soft-tooling. how to wear beats studio buds. 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. Drive-thru prevention? 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. Not until they actually get funding. I can see the financial benefits but the sacrifice in style is not worth it in my opinion. 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. 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. Elio Motors' mailing address is 2942 North 24th Street Suite 114-700, Phoenix AZ, 85016. 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. and our Sep 9, 2021. Get updates now! Did you read the agreement you signed when you put your $1,000 in? Elio Motors assumes no obligation to update the information in this press release. For every $1 of gas purchase by an Elio owner, said owner would make a $2 car payment. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. For more information, please see our Elio Motors will stay in business until all the refundable's are asked to be refunded. Disclosure: Information provided on this site should not be considered professional financial advice. We are one day into 2021 targeted production. American Consumer News, LLC dba MarketBeat 2010-2023. You could put a little bat logo peel-off sticker on the hood! In an effort to secure a Department of Energy loan, Elio offered advance reservations where the buyer can reserve a spot in line to possibly purchase a vehicle for a base price of US$7,450. Click to get the best stock tips daily for free! Elio Motors secured more 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand for its unique styling and design. Then it fizzles out. Elio Motors and the BBB. I dont see a city estimate for MPG. Forward-looking statements are made and based on information available to the Company on the date of this press release. Pre-production three-wheeler prototypes were spotted, but nothing more than show cars that showed the company could make something from more than $100 million in startup funding. Charge Time. It really is hard. But after the initial buzz faded, Smart turned out to be a dud. In 2021, it put out a press release claiming that it is focusing on going electric before producing a gas-powered Elio. A Russian agent, an eccentric millionaire and a new cryptocurrencymeant to help fund Elio Motors. If electric cars could get some better range and still be affordable then this company might not survive. Since I ride a bike to work and live right on a bus line, I personally wont be purchasing an Elio unless my job situation changes. Starting an automotive company is not cheap. Forums. I was commuting about 85 miles round trip everyday so it would have been perfect for that. So I started looking in to it a bit more. 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. In addition, Elio Motors projected that 90% of parts for its vehicle could originate in North America. texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. Welcome to Elio Owners! Paul Elio always remains silent and has disappeared from public view. Elio attempted to raise $25 million and raised $17 million. I would have actually considered owning one -but my wait and see approach turned out appropriate. 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. A license really isnt difficult to get (I had one at 15), but if you dont already have a bike, borrowing one for the test could be difficult. Serious About Savings? Fuel economy, while not TOP on my list, has to be good enough to even make my list. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. Still, the Elio-E has the potential to be an interesting car. 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. Show me the crash test datathen I might buy become a believer. Maybe you can put a basket on front for trips to the grocery store. "Elio Motors Returns From the Dead With 3-Wheeled Elio-E EV", "Zacks Update on Elio Motors Misinformation Clarified", "Elio Motors Had All Of $7,155 Left In The Bank Late Last Year", "Waiting on the Elio, a Three-Wheeled Dream Car of the Future", "Elio Motors debuts e1c engineering vehicle", "You won't need a motorcycle license to drive the Elio in 41 states", "Elio Motors Gets Closer to Nationwide Helmet Exemption", "Three-wheeled car buyers won't have to take motorcycle test", "Maker of high-mileage 3-wheel vehicles buys former GM plant", "Elio Motors' Top 10 Things to Love | Elio Momentum v40 | Elio Motors", "Elio Motors | The next big thing in transportation! You paint that bad boy black and its like having your own Batmobile! However, if it does make it to market, this car could easily fill the automotive needs for the following niches: For these groups what other vehicles on the market come close to providing the same value? Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. Then, in 2018, the company announced a bizarre cryptocurrency plan and venture with Overstock.com to fund the development of the same car 8 years later. 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. It offers vehicles under the Elio brand. Since then, Ive ended up changing jobs to one where I can take the bus to work instead (or if I have the time, even walk). At this point, it looks like funding for Elio has all but stopped. I saw this same car back in the seventies. Aside from a few brightly colored prototypes, most powered by three-pot Geo Metro powertrains, no cars were built and no jobs were created in Louisiana. Elio Motors, the embattled Phoenix car-making startup, ran a net loss of $10.4 million during the first half of 2021, according to documents the company recently filed with the Securities and . and last updated 2020-01-21 09:06:41-05. Sector Consumer Discretionary Industry Motorcycle Manufacturers Employees - Founded 2009 Address 2942 North 24th Street. Requests to Elio Motors for any information are simply answered with read the blog. 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. SHREVEPORT, La. Elio Motors, Inc. engages in the designing, developing and manufacturing of three-wheeled vehicles. You see, every now and then a tiny car will come along that promises to revolutionize the way we get around and dramatically slice transportation costs and environmental impact. True Blue, Marshmallow, Red Hot, Rocket Silver, Sour Apple, Licorice, and Creamsicle. Ethanol from corn is the biggest scam perpetrated on the American taxpayer by the Farm Industrial Complex EVER! Please help update this article to reflect recent events or newly available information. 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. 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. The safety issue isnt a big concern, as it is a far safer alternative to a motorcycle! [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. ". Elio Motors announces plan to go electric, but Valley company could still face a rocky road ahead, Please Consider Not Giving Any More Money to Elio Motors, Elio Motors announces its intent to produce an electric version of its popular vehicle, $2.6+ Billion Electric Trike Global Market to 2026 - Featuring Arcimoto, BRP and Elio Motors Among Others, Lordstown Motors Probably Won't Be The Last New Automaker To Head Toward Doom, Nikola's Slow-Motion Collapse Continues Apace, 'The Lady And The Dale' Is A Good Reminder Huckster Automakers Will Always Be With Us, Electric Trike Market 2020 Share, Potential Growth, Industry Size, Demand and Analysis of Key Players and Forecast to 2025, The next Tesla? http://www.goodcarbadcar.net/2011/01/scion-iq-sales-figures.html Get daily stock ideas from top-performing Wall Street analysts. Smarts sell well there because price wise it is comparable. If the car does materialize, it already has competition: Electra Meccanica's three-wheel, single-seat Solo that offers 100 miles of driving range. My neighbor who was a business owner was solicited but said no thanks as far as I knew. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. I am sure I would get some looks but with that kind of MPG and price I would definitely purchase it. By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges. The 84 MPG on the highway is mentioned often on the companys web page. By: Joe Ducey. Elio Motors progress in many other areas should be valuable to the ultimate successful creation of the Elio-E. For instance, Elio Motors went state by state and created the new category of vehicles eliminating the need to wear a helmet in your fully enclosed Elio. The timing and availability of the funds can move and we will do everything we can to keep the project moving forward by utilizing each piece of funding received, as we receive it. Hundreds of institutional investors are looking to invest in the electric vehicle market. After a half-decade of fits and starts, E-M has actually delivered a few cars to customers. These statements involve risks and uncertainties, which are described in more detail in the Companys periodic reports filed with the Securities and Exchange Commission, 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. http://insideevs.com/monthly-plug-in-sales-scorecard/. It had a clever name, distinct look, good fuel efficiency, and a low cost. Its bound to turn heads. 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. This is less than half the cost of any other new vehicle on the market. You could never take the family on a vacation with an Elio or even make a Costco run with the spouse, but if it can adequately fill those four niches better than other alternatives, I can see it succeeding. Until weve made it, we havent. Once the electric version is produced, Elio plans to potentially launch the Elio-G for consumers looking for a gas powered alternative. Published on Jul 26, 2017. 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 the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. Well it looks kind of cool to me. Threads 125 Messages 4K. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. So innovation is severely lacking. Mitsubishi Mirage Car + fuel cost over 5 years estimated at $22,115. 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. People traveling in an rv and just wanting wheels once the rv is parked. But then the inevitable happened: The mid-2016 start-of-production date was delayed again and again. 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. Forward-looking statements are made and based on information available to the Company on the date of this website. [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 secured more 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand for its unique styling and design. Posted at 6:00 AM, Jan 21, 2020 . If its website is any indication, any connection the rest of the world had to Elio Motors has now timed out. And now, a much less wealthy rebel, Paul Elio, hopes to do the same in a gasoline-powered vehicle through Elio Motors. I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. It was one of the first offerings to file under the new Reg. Real-time analyst ratings, insider transactions, earnings data, and more. Which is true, no clue. Danny King. And it couldnt be more wrong! The projections, which did not include range, cited a possible $15,000 price. New posts Search forums. Can't wait for the Elio-E to come out in 2023. If youre new to the name Elio Motors, youre not alone. I think the vast majority of folks are still rooting for us. Anticipated production date is based upon timely receipt of requisite funding. Login/Register . Is the Elio-E really going to happen, or is the announcement just an attempt to prop up a failing startup? . 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. Elio even came up with an innovative financing scheme, effectively a secured credit card with the car as collateral. The front track is designed to be 66.8 inches (1.70m) with a wheelbase of 110 inches (2.79m). dependence on American farmers for fuel source, not middle east Looks hideous! I reserved one, I love its look, the fuel economy and the fact that it is bold forward thinking American ingenuity. 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. Hello my name is Joe and I'm very passionate about cars. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Thank you again for your patience, understanding and, most of all, passion for the Elio vehicle platform. I work out of state months out of the year. What could go wrong? Quite literally, youre paying the same price for less than half the car when you buy a Smart. Last year, the company reported a $10 million loss in the first six months, according to the Phoenix Business Journal. Ive been waiting for someone to carry through on this concept. Elio has been held out as one of the first great successes of the crowdfunding industry. I wouldnt buy stock in this company for the long term is all Im saying. As Smart showed, you dont have to be big to be safe. All rights reserved. Back in the heady $7,000 Elio-G days, the company told us it'd need to build 150,000 to 200,000 cars per annum to be profitable. this car would save me 2/3 of that and quickly pay for itself. Why? They are working to change things on a state-by-state level. 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. The Honda Civic that runs on CNG, except refueling on the road is a joke. BREAKING: Tiny biotech successfully treats blindness. It's what Elio Motors promised. But, what fun would that be? Not only does it need millions in cash quick, now the state of Louisiana has leveled a $545,000 fine against the company. I wouldnt risk my kids life with this car, no matter what the cost savings. Equipment been sold long time ago. The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. 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. Check out the store for all our shirts and stickers! No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. 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. 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Trip everyday so it would have actually considered owning one -but my wait and approach... Fits and starts, E-M has actually delivered a few cars to customers, any connection rest! Said owner would make a $ 545,000 fine against the company reported a 10. Economy, while not TOP on my list plans to potentially launch the Elio-G for consumers looking for a powered... At ( 602 ) 424-7472 or via email at tclemensen @ eliomotors.com, as it is a far safer to... Enough to even make my list, has to be 66.8 inches ( 2.79m ) now timed out all... Cars to customers has disappeared from public view pay for itself t wait for the Elio-E to come in...