The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. I understand needing one car to sit all three of you, but why would one parent and one child need a car with 3 seats? And now, I think Elio has a legit shot at making it. You must log in or register to reply here. 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. To see all exchange delays and terms of use please see Barchart's disclaimer. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. 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. Once the electric version is produced, Elio plans to potentially launch the Elio-G for consumers looking for a gas powered alternative. My neighbor who was a business owner was solicited but said no thanks as far as I knew. We track news headlines from hundreds of news outlets and tag them by company. Since the 2009 conception, the company illustrated and repeatedly delayed a . 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. (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.) What is the market capitalization of Elio Motors Inc Stock? 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. Drive-thru prevention? By: Joe Ducey. 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. Elio Motors was fined $545,000 for violating state licensing laws and in order to appeal the ruling the company had to move $76,500 into a trust account; Elio appealed the fine to the Louisiana . They could easily do it and they would have to look hard to see if they was a billion or two light this quarter.Big oil once again or worse our own government putting the kiabash on it?? 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. And the Mitsubishi Mirage, mustnt forget that: http://blogs.cars.com/kickingtires/2014/07/whats-the-most-affordable-car-in-2014.html. [20] The Elio Motors Facebook page was similarly left without updates between April 2019 and September 9, 2021.[21]. Since then, the date has been pushed back each year. contact@marketbeat.com The 2021 T-Rex RR, which is powered by a Kawasaki-sourced DOHC 1.4-liter inline-four making 208 horsepower and 117 pound-feet of torque, starts at $65,999. I highly recommend it if you are curious about energy efficiency and environmental stewardship. Photo courtesy of Elio Motors 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. I wouldnt risk my kids life with this car, no matter what the cost savings. Elio Motors' three-wheel econo-spaceship looks like something from the future, but it's actually fairly simple. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. Some guy (I think a politician down there) claims they sold it all. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. But then the inevitable happened: The mid-2016 start-of-production date was delayed again and again. Based on a host of speculative forward-looking statements, the company's gas-powered three-wheel concept was marketed as the Elio P4; was illustrated to attain a highway mileage rating of up to 84 mpg and was to offer power windows, a power door lock, cruise control, and air conditioning, in an aerodynamic, enclosed bodywork. We are one day into 2021 targeted production. Elio Motors has continuously delayed the release date, which was originally in 2012. Imagine getting in your car and putting on a helmet. It had a clever name, distinct look, good fuel efficiency, and a low cost. 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. 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. Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. by using 100% ethanol fuel. 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. Translationour guess, at leastis that someone at Elio figured out that off-the-shelf electric motors are cheaper than bespoke gasoline engines. 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. The result? I would consider it. Now likely thanks to some Overstock.com investment and a plan to introduce a . I hope you didnt invest here. That an automotive startup flounders isnt especially remarkable. Until then Elio is making money on that money sitting in an account. In 2021, it put out a press release claiming that it is focusing on going electric before producing a gas-powered Elio. You will be reported to the proper authorities for false advertising. Update: This story has been updated with a comment from Elio. (We've driven the Solo, and those customers have our sympathy.) I would buy if I needed low volume cargo work. They're still waiting. I think it needs a third, and possibly a fourth, seat to meet those sales numbers. Thanks for sharing. 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. Smarts problem was being the baby of a european market where his vehcile prices are the norm. I think the vast majority of folks are still rooting for us. And it couldnt be more wrong! Id have to see how solid this car is. Cookie Notice Production, it said,. . This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. Made in USA Elio Addict Jun 14, 2021 #6 Elio Motors will stay in business until all the refundable's are asked to be refunded. Despite no high-priced batteries in its drivetrain, it is anticipated to be rated at 84 mpg highway and 49 mpg city. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. 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. I would buy one. The 84 MPG on the highway is mentioned often on the companys web page. 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. Disclosure: Information provided on this site should not be considered professional financial advice. The Phoenix-based automaker has signed a . Dec 3, 2022; Sonoran Sam; Elio Photos and Videos. The projections, which did not include range, cited a possible $15,000 price. Elio Motors is making a significant step towards finally launching its long-overdue "ultra-high-mileage, low-cost three-wheel Elio vehicle.". If its website is any indication, any connection the rest of the world had to Elio Motors has now timed out. Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press. Interesting stuff though, Im currently working my way through a book called Alcohol can be a gas! by David Blume. I am for saving fuel. Published on Jul 26, 2017. Charge Time. 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. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. I guess Im having trouble with the 2 cars that seat 3 comment. Same three wheel design. Paul Elios first car business had collapsed. Several days later, Elio Motors responded and rejected his request for a refund. 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). Whereas if I just invested the money then I would be able to make money with that money while I wait. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. Can't wait for the Elio-E to come out in 2023. Despite promising to begin vehicle production as soon as 2014, the company has repeatedly failed to get off the ground at its factory in Shreveport, Louisiana, a former General Motors property. 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. Americans are viewed as wanting big and fast vehicles and fails like the Smart are used to reconfirm those beliefs. http://www.goodcarbadcar.net/2011/01/scion-iq-sales-figures.html The price is right for me to buy one w/ no payments. Answer: I have a friend who put down $1000 several months (maybe a year) ago. 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. Consult an independent financial advisor for your specific situation. 171 miles. 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. Say. Heres what we learned during our investigation: 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Its bound to turn heads. 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. Vehicle shown is the gas powered version. Say. Welcome to Elio Owners! The potential service provider for Elio Motors is Pep Boys. But will it ever be made? Get Rid of your Car, The Most Powerful Tool to Cut Miles Driven, Gas, & Vehicle Costs (and its Free). 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 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. A Russian agent, an eccentric millionaire and a new cryptocurrencymeant to help fund Elio Motors. 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. Happy 2021 targeted Elio Production! Posted at 6:00 AM, Jan 21, 2020 . Jul 30, 2016 Exclusive. The debt load for this company is now dooming it. 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. I like the idea of this car, but I imagine it would be difficult to take through the drive-thru with the distance between the front left wheel and the driver side window. I agree, similar to a short distance electric car, this would make a great second family car. I am thinking of parking an rv in a park and living there, a car like this would be perfect for commuting and running around while Im there. Elio built a series of prototypes of the Elio G, some of which will be retrofitted into electric versions for testing. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. If you want to market and actually sell a car that requires consumers to sacrifice utility, you better offer both of the following: Unfortunately, Smart was not really successful with either. Stay tuned for a number of important and exciting announcements over the next few weeks on our path forward. I would not be surprised if we never see an Elio released to the public. Dont put in a non-refundable reservation. Plus, you could hand out Elio cards after you get candy. Lets hope not, and just let we the people have something for us for a change. Called Liquid Solar it has some interesting ramifications including: document.write('
'); 0.44Average Auto/Tires/Trucks News Sentiment. To Elio, the interest is free money. If its website is any indication, Elios future can be summed up in two concise and accurate words: Not Found., Got a tip? Elio has been held out as one of the first great successes of the crowdfunding industry. Still, I think I can tackle a lot of the same energy issues (and more!) Which Dollar Store, If Any, is Worth Your Investment Dollars? It took an ambitious and daring rebel billionaire (Elon Musk) to force some true efficiency innovation in the marketplace with electric vehicles via Tesla. texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. 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. The safety issue isnt a big concern, as it is a far safer alternative to a motorcycle! I think its when gas prices get to insane levels this car will be much more desired. 2023 Elio Motors Inc. All rights reserved. Threads 1.8K . I was actually very VERY close to putting down a payment for a reservation for one of these cars 2 years ago. 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. [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]. Share your opinion and gain insight from other stock traders and investors. I like his business acumen. It's essentially an ultra-efficient supermini, albeit with a unique design meant to minimize drag. 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. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. But it has not identified a viable path toward raising the hundreds of millions of dollars it says it needs to get there. We dont give up.. And there will be plenty of regulatory hurdles to overcome. ", 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. Serious About Savings? American Consumer News, LLC dba MarketBeat 2010-2023. 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 . Because theres no evidence of that, ever.. Mark your calendar and go out as an Elio for Halloween (don't forget the Starbucks Venti Coffee). On top of that, it has a cool, unique look to it, and promises to have 90% of its supply-chain materials come from North American suppliers (it will be manufactured at a former Hummer plant in Louisiana, ironically). Click to get the best stock tips daily for free! 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. They are, apparently, not dead yet with a dream that still lives. [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". 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. But, what fun would that be? I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. Ive been waiting for someone to carry through on this concept. They are working to change things on a state-by-state level. It offered a lot of promise. This is a different car though and its time is here. However, after waiting for almost a decade, a lot of people have now started asking some serious questions about both the vehicle and the manufacturer. Despite a lack of transparency as to their path forward, Elio announced a December 2019 production date, which passed with no progress. The three-wheel electricElioisengineered to be the ultimate low cost commuter and fleet vehicle while providing the comfort of amenities. Also: http://www.americanenergyindependence.com/alcoholengines.aspx. But again, a good idea for those in a different situation. Herein lies the problem. When he told me about it I went looking up the company and did a lot of research. 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? It is not . 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. Elio Motors assumes no obligation to update the information within this website. If the Slingshot is a Lamborghini, this. Threads 1.8K Messages 95K. I work out of state months out of the year. I think I would get one if we ever needed a second car for me to get to work and back. Elio Motors, Inc. engages in the designing, developing and manufacturing of three-wheeled vehicles. I saw this same car back in the seventies. The offering was deemed a success because it raised $17 million from thousands of small investors. 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. 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. We reached out to Elio Motors and they replied: "The tech team is aware and working on it, thanks for the heads up though, we appreciate it. For more info see the elioowners.com website. 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. Send it in to tips@thedrive.com. 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. If the car does materialize, it already has competition: Electra Meccanica's three-wheel, single-seat Solo that offers 100 miles of driving range. 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