Interesting stuff though, Im currently working my way through a book called Alcohol can be a gas! by David Blume. Elio Motors was founded with a vision to create a high mileage, low-cost vehicle that everyone could afford. Vehicle shown is the gas powered version. 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. 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). Anticipated production date is based upon timely receipt of requisite funding. General Elio Discussion. Id rather walk away from a totaled car than get myself killed. 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. They are on hold for now. Heres what we learned during our investigation: 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. A highway accident can make me a statistic. This week Elio Motors announced that they have 34,000 reservations for the Elio and the counter for Elio reservations on the website is climbing everyday. Get Elio Motors News Delivered to You Automatically. [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. I work out of state months out of the year. By the end of 2017, Elio had only US$7,155 in the bank, and deficits of US$49,674,327. Nash Motors Company was an American automobile manufacturer based in Kenosha, Wisconsin from 1916 until 1937. 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. Elio Motors provides personal transportation alternatives that are fun to drive and built in the USA. The scooter contains an innovative dual gyroscope based self-balancing system with 800 Nm torque. 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. We dont give up.. 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 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. But then the inevitable happened: The mid-2016 start-of-production date was delayed again and again. With the Hughes Optioneering Strategy, youll soon learn that the safest option for new accounts is options themselves! Does that mean that Elio Motors is not Vaporware? Equipment been sold long time ago. To Elio, the interest is free money. Alas, it's been steadily dropping since. When it drags a town along with it, it is. It has never sold a single vehicle. Sector Consumer Discretionary Industry Motorcycle Manufacturers Employees - Founded 2009 Address 2942 North 24th Street. For all intents and purposes, this is a car, not a motorcycle. Its 34 city and 38 highway fuel efficiency is good, but not for its size. test drive it and consider it, primarily as our 2nd car. Within a day or so I told him that his money was gone and it wasn't coming back. Say. It does this by being extremely lightweight through using half the materials of a normal car and smartly using tandem style 2-person seating to streamline aerodynamics (vs. the standard side-to-side). Sep 9, 2021. 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. Survey says car buyers are taking fewer and shorter test drives. 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. Since the 2009 conception, the company illustrated and repeatedly delayed a release date for its original gasoline powered vehicle, pivoted to an electric powered concept, collected an estimated $28 million of deposits,[1] has been fined $7.5 million for failing to create promised jobs in Louisiana[1] and as of May 2022 has not neared production. Now, given the climate of the car business, Elio has decided to launch the electric version first, and thenmaybethe gasoline version. The safety issue isnt a big concern, as it is a far safer alternative to a motorcycle! It offered a lot of promise. 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. The companys website officially 404s now, long after its cars effectively did the same. Elio Motors raises price for reservation holders to $7,300. 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. Threads 1.8K . For more info see the elioowners.com website. 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. 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. But the thing that pisses me off is when people call it a scam like were not honorable. If the Elio-E appeals to you and you're thinking of reserving one, we say, maybe it's best to wait. Elio Motors' three-wheel econo-spaceship looks like something from the future, but it's actually fairly simple. Americans are viewed as wanting big and fast vehicles and fails like the Smart are used to reconfirm those beliefs. 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. I would buy if I needed low volume cargo work. Say I average 60mpg. 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. GM's shuttered Hummer plant in Shreveport, Louisiana. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. [13] On August 3, 2017, Elio filed with the U.S. Securities and Exchange Commission to have an initial public offering (IPO) for its common stock in order to raise $100 million in capital. 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. . ", "This Startup Will Buy An Old GM Plant In Louisiana, But Is Their Car Real Or Vaporware? Forward-looking statements are made and based on information available to the Company on the date of this website. potentially equal performance (need to educate myself more here), although currently cars are designed to peak performance on gasoline, not ethanol. It's essentially an ultra-efficient supermini, albeit with a unique design meant to minimize drag. 34 talking about this. It costs more to grow, harvest, and process the corn than it would cost if you simply burned the oil in your car! I actually think that it looks kind of cool. Stay tuned for a number of important and exciting announcements over the next few weeks on our path forward. But it has not identified a viable path toward raising the hundreds of millions of dollars it says it needs to get there. vkgy is a visual kei library maintained by overseas fans. Why? -- Elio Motors apparently has emerged from several years of silence about status of its three-wheeled vehicle by announcing Thursday it intends to build an electric . View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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 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. 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. The small automaker started more than a decade ago with a supremely lofty goal: 84 mpg, three wheels, for less than $7,000. Elio Motors stock price is up 136 percent today because of the announcement,. For more information, please see our Google Elio Motors and you wont see anything new. It should have been declared a scam, and Mr Elio prosecu. Since then, the date has been pushed back each year. True Blue, Marshmallow, Red Hot, Rocket Silver, Sour Apple, Licorice, and Creamsicle. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. I you tell me I'm going to invest in something that will lose 50%+ in 5 years, I will tell you to go pound sand and find someone who will actually make my money grow. net sequestration of CO2 looking at cradle to grave When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. Welcome to Elio Owners! I still think that this market could be large enough for them to survive, but gas prices arent rising as fast as they used to be so thats not in favor of this car. Please help update this article to reflect recent events or newly available information. by using 100% ethanol fuel. The design idea included multiple air bags, anti-lock brakes, traction control, steel unibody frame, and crumple zones and a three-wheeled autocycle configuration with two wheels in front, one in back. 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. 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. And it couldnt be more wrong! They say only 5 states will require a helmet. 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. The price is right for me to buy one w/ no payments. 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. document.write('
'); 0.44Average Auto/Tires/Trucks News Sentiment. I think its when gas prices get to insane levels this car will be much more desired. Herein lies the problem. Elio Motors CEO Paul Elio developed an ultra-small car with two wheels in front and one in back, promising to sell . Since the 2009 conception, the company illustrated and repeatedly delayed a release date for its original gasoline powered vehicle, pivoted to an electric powered concept, collected an estimated $28 million of deposits, has been fined $7.5 million for failing to create promised . I think the vast majority of folks realize this is not a scam, he said on Sept. 14 in his first major media interview in several years. The company was founded by Paul Elio in October 2009 . Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. Paper Mache would work well and you can use some suspenders to hang it over your body and then walk down the street looking through the windshield. Being that my monthly gas cost me more than my truck, I would be very interested in something like this. The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. Critics have drawn comparisons to the Lit Motors C-1 and Aptera Motors, which had similar production schemes requiring more funding than was attainable, while updating production timelines to give the impression that a product was deliverable. They are, apparently, not dead yet with a dream that still lives. 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. As previously noted, there is no rebel billionaire here Elio has had to bootstrap its funding the hard way. 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. Until then Elio is making money on that money sitting in an account. and last updated 2020-01-21 09:06:41-05. and our 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. ELIO News Today | Why did Elio Motors stock go up today? Technology, performance and design delivered to your inbox. 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. Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. The potential service provider for Elio Motors is Pep Boys. 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. The company started accepting customer reservations on its website in January 2013 and stopped accepting reservations at 65,341 in 2017. 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. 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. It was an intriguing concept, and Elio took some 65,000 deposits, most of which were non-refundable. Hundreds of institutional investors are looking to invest in the electric vehicle market. I feel like they must have pushed back timelines on the release date. The offering was deemed a success because it raised $17 million from thousands of small investors. [2][3], As early as 2015, The New York Times noted Elio Motors was selling "spots on the waiting list and, more broadly, a dream."[4]. Thank you again for your patience, understanding and, most of all, passion for the Elio vehicle platform. So I started looking in to it a bit more. According to the press release, Elio's original plan was to launch the gasoline-powered Elio-G first, then follow up with a battery-powered electric version. I think I would get one if we ever needed a second car for me to get to work and back. That an automotive startup flounders isnt especially remarkable. It had a clever name, distinct look, good fuel efficiency, and a low cost. 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. While dormant, the gas-powered model may not be entirely dead it's now the Elio-G and there's a chance it could return. 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. 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. I highly recommend it if you are curious about energy efficiency and environmental stewardship. My neighbor who was a business owner was solicited but said no thanks as far as I knew. Smarts problem was being the baby of a european market where his vehcile prices are the norm. The 84 MPG on the highway is mentioned often on the companys web page. The entire automotive landscape has changed significantly, and Elio Motors now believes that it is better to first develop an electric powered Elio-E and get it into production. 2023 Update to the below content: I first published this article in 2014, and as of 2023 Elio Motors still hasnt begun delivering vehicles to potential customers who made reservations (and has stopped taking new reservations). The debt load for this company is now dooming it. People traveling in an rv and just wanting wheels once the rv is parked. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. To Elio, the interest is free money. Export data to Excel for your own analysis. 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. It is not . Ill have a apartment in Brooklyn that I will be at during work shifts, but driving into, out of, and around NYC for work, I would love a small car like this. This would fit my needs perfectly! You paint that bad boy black and its like having your own Batmobile! ", Elio Motors took millions in customer depositsnever delivered, https://en.wikipedia.org/w/index.php?title=Elio_Motors&oldid=1136402452, This page was last edited on 30 January 2023, at 04:15. Plus, you could hand out Elio cards after you get candy. I have been driving a 95 civic dx for a few years and average around 45mpg highway and city combined. Same three wheel design. Serious About Savings? At Elio Motors, weve developed a palette of colors that turn headswe thought they deserved a description thats as fun and unique as the Elio! After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. 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? Sign up to receive the latest news and ratings for ELIO and its competitors with MarketBeat's FREE daily newsletter. I wouldnt buy stock in this company for the long term is all Im saying. But I sure as hell would like to test drive one anyways. But where are the cars? 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. But will it ever be made? [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". Electric bills likely to rise under ERCOT revamp plan approved by PUC, Get Yourself Unstuck on a Budget With Winch Deals, This May Be the End for Elio Motors, Finally, This three-wheel vehicle to be built in Mesa cant fit a family, but it can deliver their pizzas, Global Electric Trike Market Size 2022 Research Analysis by Market Dynamics, Share, Sales, Industrial Trends, Developments and Forecast to 2028, Phoenix Business Journal wins 2022 Arizona Newspapers Association awards, New Crowd-Funding Rules Create Opportunities, Risks for Investors, Electric Trike Market Size Global Industry, Segments, Share and Growth Factor Analysis, 2022 Top Key Players Research Report 2029, After Hertz car rentals lead to some arrests, know what to do when you rent a car, Move Over Tesla, The $6800, 84 MPG Elio is Here, The Cavinder twins, 'queens' of college sports endorsements, poised to make $1 million, Elio Motors reports $10 million loss through first half of 2021, Elio Motors promised 1,500 jobs at an old GM plant in Louisiana. Real-time analyst ratings, insider transactions, earnings data, and more. After one trip in that cramped little thing, I never got in one again until Honda made cars larger. If there were small-car only roads I would likely buy that in a second. Elio attempted to raise $25 million and raised $17 million. The result? 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. During the initial development phase Elio Motors believed that the best strategy was to first develop a gas-powered option, establish it in the marketplace, and then launch the electric version. Elio promised a hard-hit Louisiana city 1,500 new auto jobs. texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. Elio Motors assumes no obligation to update the information within this website. GC no need to be crude to someone new, but what your saying is true. Regenerative breaking would help any cars fuel economy, not just electric. For me, its a question of safety. It is also a much more visible item for other drivers to see. Elio's stock pricewhich leaped as high as $50 shortly after its 2016 IPO, and spent most of 2021 falling from just over a dollar to a low of $0.30did see a brief jump to $1.10 on the Elio-E announcement. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. 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. My enthusiasm is genuine and I am definitely not alone the Elio already has 65,000 paid reservations. An Overview of Blue Chips. Threads 125 Messages 4K. Looks hideous! Get daily stock ideas from top-performing Wall Street analysts. Certain statements in this press release including, but not limited to, statements related toanticipatedcommencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. http://insideevs.com/monthly-plug-in-sales-scorecard/. 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. This is more than 2X the efficiency of any other gas-only vehicle on the market. Paul Elios first car business had collapsed. As of June 2017, basic test mules and three validation vehicles (codenamed: E1-A, E1-C, and E1-D) were built to test safety, aerodynamics, and durability. One word of warning, do not paint it yellow. I think it needs a third, and possibly a fourth, seat to meet those sales numbers. Production, it said,. Paul Elio always remains silent and has disappeared from public view. 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. If the Slingshot is a Lamborghini, this. [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. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. Published: 11 Sep 2021, . The Phoenix-based automaker has signed a . 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 . Disclosure: Information provided on this site should not be considered professional financial advice. Can't wait for the Elio-E to come out in 2023. What's the current price of Elio Motors Inc Stock? Maybe for a family willing to buy a third car for commuting, or replace their motorcycle, but neither demographic will pull them into the 250,000 sales/year range. New posts Search forums. 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. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. I guess Im having trouble with the 2 cars that seat 3 comment. http://en.m.wikipedia.org/wiki/Myers_Motors_NmG. Elio's stock pricewhich leaped as high as $50 shortly after its 2016 IPO, and spent most of 2021 falling from just over a dollar to a low of $0.30did see a brief jump to $1.10 on the Elio-E. Now likely thanks to some Overstock.com investment and a plan to introduce a . Because of the 3 wheeled aspect, it is classified as a motorcycle. This is less than half the cost of any other new vehicle on the market. 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. 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. . The Elio also claims to have addressed the safety concerns typically associated with small vehicles with an anticipated 5-star crash rating on all four sides and three airbags. It took an ambitious and daring rebel billionaire (Elon Musk) to force some true efficiency innovation in the marketplace with electric vehicles via Tesla. JavaScript is disabled. Join today, registration is easy! Is the Elio-E really going to happen, or is the announcement just an attempt to prop up a failing startup? 2023 Elio Motors Inc. All rights reserved. Elio has been held out as one of the first great successes of the crowdfunding industry. 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? The self balancing system is capable to keep the motorcycle stable during a crash. I think the vast majority of folks are still rooting for us. But, Ive grown a bit cynical over the years. We never quit working to make this dream happen,said Paul Elio, CEO of Elio Motors,The market has changed, and investors and consumers are looking for innovative, environmentally conscious, low cost electric vehicles, and we have a great option that will appeal to a very large under-served market. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. Starting an automotive company is not cheap. View which stocks are hot on social media with MarketBeat's trending stocks report. At the same time, the company warned in a filing with the Securities and Exchange Commission that theres substantial doubt about its ability to stay afloat. 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. 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. Plus, losing around $18M in 2019 and that same for 2020 is cool. Lets hope not, and just let we the people have something for us for a change. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ). Find the latest Elio Motors, Inc. (ELIO) stock discussion in Yahoo Finance's forum. May 3, 2017. Vehicle shown is the gas powered version.
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