Would you give it up if the customers didn't ask for the refund? Eliosfirst manufacturing site will be in Shreveport, Louisiana. Same three wheel design. Elio Motors isn't doing so well. Posted at 6:00 AM, Jan 21, 2020 . Forward-looking statements are made and based on information available to the Company on the date of this press release. That predictably failed, and in 2021 the last gasp from Elio came by way of an electric version of its car, called the Elio-E, and more promises of production. 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. Cookie Notice So innovation is severely lacking. One word of warning, do not paint it yellow. 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. Anticipated production date is based upon timely receipt of requisite funding. Why? Sign in to your free account to enjoy all that MarketBeat has to offer. 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. 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 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. I think I would get one if we ever needed a second car for me to get to work and back. 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]. This time . Your California Privacy Rights/Privacy Policy. Ethanol is a net fossil fuel consumer. http://www.eliomotors.com/wp-content/uploads/2014/02/helmetlaws.pdf. 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. 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. Say. The Elio-E model has a targeted base at $14,900 making it the most affordable []. I think it needs a third, and possibly a fourth, seat to meet those sales numbers. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. At this point, it looks like funding for Elio has all but stopped. In fact, once production officially kicks off, it will have an in-house-built 0. . [20] The Elio Motors Facebook page was similarly left without updates between April 2019 and September 9, 2021.[21]. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. 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. Vehicle shown is the gas powered version. The C1 is an electric self-balancing scooter-car cross-over from motorcycle innovation company Lit Motors from San Fransisco, U.S. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ). And its $14,020 price tag is now higher than the Nissan Versa (a much larger 5-seat car with an optional hatchback). Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. 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. We dont give up.. By: Joe Ducey. After a half-decade of fits and starts, E-M has actually delivered a few cars to customers. 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. [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. But then the inevitable happened: The mid-2016 start-of-production date was delayed again and again. Threads 1.8K . Would be nice to market a version for delivery services like grubhub, pizza hut or eatstreet. Finally, in 2019, Elio stopped updating its website. Elio has said they only sold what wasn't needed for the Elio. 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. 326 E 8th St #105, Sioux Falls, SD 57103 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. 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. 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. I drive for a living and this would be good for high mileage workers. That an automotive startup flounders isnt especially remarkable. dependence on American farmers for fuel source, not middle east I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. Minimalist hipster haha Id most def. It was an intriguing concept, and Elio took some 65,000 deposits, most of which were non-refundable. 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. Show me the crash test datathen I might buy become a believer. How to Get the Most Out of Auto Insurance Quotes, http://en.m.wikipedia.org/wiki/Myers_Motors_NmG, http://www.goodcarbadcar.net/2011/01/scion-iq-sales-figures.html, http://insideevs.com/monthly-plug-in-sales-scorecard/, http://www.americanenergyindependence.com/alcoholengines.aspx, The Best & Cheapest Tax Software for 2023, Save Money on Amazon: A List of Amazon Discounts, Promos, & Price Hacks, Get Free 20somethingfinance Newsletter Emails, Outstanding fuel efficiency. Now likely thanks to some Overstock.com investment and a plan to introduce a . It is not . 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 . Please log in to your account or sign up in order to add this asset to your watchlist. The projections, which did not include range, cited a possible $15,000 price. In 2021, it put out a press release claiming that it is focusing on going electric before producing a gas-powered Elio. See what's happening in the market right now with MarketBeat's real-time news feed. 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. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. Fuel economy, while not TOP on my list, has to be good enough to even make my list. It really is hard. [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. 2023 Elio Motors Inc. All rights reserved. We are sure that you have a lot of questions that we will work to answer over the coming weeks and months. Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. Elio Motors has been developing a three-wheeled concept car offering 84 MPG and a sub-$8,000 pricetag. Elio attempted to raise $25 million and raised $17 million. The official website for the company is www.eliomotors.com. I was commuting about 85 miles round trip everyday so it would have been perfect for that. Being that my monthly gas cost me more than my truck, I would be very interested in something like this. Since this car would quite often be used as a local commuting vehicle, it would be nice to see regenerative braking, which could be some technology other than electric. You paint that bad boy black and its like having your own Batmobile! 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. Elio Motors assumes no obligation to update the information within this website. Each headline receives a score ranging from 2 (good news) to -2 (bad news). Update: This story has been updated with a comment from Elio. Alas, it's been steadily dropping since. It is also a much more visible item for other drivers to see. As previously noted, there is no rebel billionaire here - Elio has had to bootstrap its funding the hard way. 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. Is Stellantis Stock a Value Investors Dream? 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. That will spread the word to the few that don't know what an Elio is. 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. greater longevity of engine life due to cleaner fuel I definitely didn't mean to sound like that. ". The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. 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. Illustrated production Americans are viewed as wanting big and fast vehicles and fails like the Smart are used to reconfirm those beliefs. 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? And now, a much less wealthy rebel, Paul Elio, hopes to do the same in a gasoline-powered vehicle through Elio Motors. Elio Motors assumes no obligation to update the information in this press release. For all intents and purposes, this is a car, not a motorcycle. Requests to Elio Motors for any information are simply answered with read the blog. 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. Get short term trading ideas from the MarketBeat Idea Engine. Technology, performance and design delivered to your inbox. 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. Maybe you can put a basket on front for trips to the grocery store. http://insideevs.com/monthly-plug-in-sales-scorecard/. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. The offering was deemed a success because it raised $17 million from thousands of small investors. Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. Elio Motors' mailing address is 2942 North 24th Street Suite 114-700, Phoenix AZ, 85016. Forums. 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. 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. Get daily stock ideas from top-performing Wall Street analysts. For now I like it but in 15 years. test drive it and consider it, primarily as our 2nd car. Still, the Elio-E has the potential to be an interesting car. It took an ambitious and daring rebel billionaire (Elon Musk) to force some true efficiency innovation in the marketplace with electric vehicles via Tesla. What is the market capitalization of Elio Motors Inc Stock? Export data to Excel for your own analysis. 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. Threads 1.8K Messages 95K. The company was founded by Paul Elio in October 2009 . (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.) All rights reserved. Im a bit of a car geek when it comes to automotive fuel efficiency gains. If its website is any indication, any connection the rest of the world had to Elio Motors has now timed out. 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