Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. You paint that bad boy black and its like having your own Batmobile! 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. I would absolutely buy this as my commuter car. 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. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. I would not be surprised if we never see an Elio released to the public. 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. http://www.goodcarbadcar.net/2011/01/scion-iq-sales-figures.html I think I would get one if we ever needed a second car for me to get to work and back. Elio attempted to raise $25 million and raised $17 million. I saw this same car back in the seventies. and our Needing less power to push less air out of the way is a big factor in the smaller engine size. What's the current price of Elio Motors Inc Stock? 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But Paul Elio, founder and CEO of Elio Motors, said in an interview with USA TODAY thathe believes the company can still succeed. Requests to Elio Motors for any information are simply answered with read the blog. The company was founded by Paul Elio in October 2009 . 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. Vehicle shown is the gas powered version. Looks hideous! On a side note, the end of October will be the Elio 10th anniversary. Say I average 60mpg. Alas, I do live in a very rural area and I know that not only would I be considered crazy for owning one, it truly wouldnt be very practical for driving up and down country roads, nor would it fulfill all my vehicle/space needs. Dont put in a non-refundable reservation. 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? 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. So I started looking in to it a bit more. I wouldnt buy stock in this company for the long term is all Im saying. Nash Motors Company was an American automobile manufacturer based in Kenosha, Wisconsin from 1916 until 1937. One word of warning, do not paint it yellow. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. I remember driving my friends Honda, the fir car Honda made. The 84 MPG on the highway is mentioned often on the companys web page. Survey says car buyers are taking fewer and shorter test drives. It was satirically described as a motorcycle with a really big helmet attached. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. [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. And he said Elio Motors was upfront and bold from the beginning that the deposits it took from customers were nonrefundable. 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. I wouldnt risk my kids life with this car, no matter what the cost savings. And now, a much less wealthy rebel, Paul Elio, hopes to do the same in a gasoline-powered vehicle through Elio Motors. Residing in MO the helmet law question still got me on the side line. 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Elio Motors' three-wheel econo-spaceship looks like something from the future, but it's actually fairly simple. 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. In 2021, it put out a press release claiming that it is focusing on going electric before producing a gas-powered Elio. Threads 125 Messages 4K. In addition, Elio Motors projected that 90% of parts for its vehicle could originate in North America. 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. A Scion IQ or Mitsubishi i-Miev is the minimum for us, and neither of those are selling like hotcakes at an average of 200/month and 25/month respectively in US Sales. The projections, which did not include range, cited a possible $15,000 price. The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. 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. Paul Elio always remains silent and has disappeared from public view. You will be reported to the proper authorities for false advertising. I definitely didn't mean to sound like that. Last year, the company reported a $10 million loss in the first six months, according to the Phoenix Business Journal. I was actually very VERY close to putting down a payment for a reservation for one of these cars 2 years ago. Send it in to tips@thedrive.com. 2023 Elio Motors Inc. All rights reserved. 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. Bad idea for many people. 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. 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. 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. 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. They are, apparently, not dead yet with a dream that still lives. The three-wheel electricElioisengineered to be the ultimate low cost commuter and fleet vehicle while providing the comfort of amenities. Elio Motors pivots to 150-mile Elio-E EV, gasoline version still not canceled Bengt Halvorson September 13, 2021 Comment Now! 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. The self balancing system is capable to keep the motorcycle stable during a crash. For every $1 of gas purchase by an Elio owner, said owner would make a $2 car payment. 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. 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. Would you give it up if the customers didn't ask for the refund? View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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. Eight years later, he still hasnt gotten his vehicle and he hasnt gotten his money back, either. Ethanol is a net fossil fuel consumer. 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. Id rather walk away from a totaled car than get myself killed. By the end of 2017, Elio had only US$7,155 in the bank, and deficits of US$49,674,327. That bodes well for them, because I agree that no one will want to wear a helmet inside their car! Supposedly, Paul is still working towards getting funding. The car from 1975 looked very very similar. Imagine getting in your car and putting on a helmet. Buyers to raise the additional 160 million Check out the store for all our shirts and stickers! Herein lies the problem. 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. 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. 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. 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. Elio promised a hard-hit Louisiana city 1,500 new auto jobs. In the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. GC no need to be crude to someone new, but what your saying is true. [20] The Elio Motors Facebook page was similarly left without updates between April 2019 and September 9, 2021.[21]. Smarts sell well there because price wise it is comparable. Published on Jul 26, 2017. 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. It was an intriguing concept, and Elio took some 65,000 deposits, most of which were non-refundable. This vehicle reduces that by being only one passenger wide. 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. Privacy Policy. If youre new to the name Elio Motors, youre not alone. Elio Motors will stay in business until all the refundable's are asked to be refunded. So many automotive startups underestimate how hard it 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? 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I hope you didnt invest here. I think the vast majority of folks are still rooting for us. Production, it said, is expected to begin in 2022. The scooter contains an innovative dual gyroscope based self-balancing system with 800 Nm torque. But it has not identified a viable path toward raising the hundreds of millions of dollars it says it needs to get there. The C1 is an electric self-balancing scooter-car cross-over from motorcycle innovation company Lit Motors from San Fransisco, U.S. 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. It is not . But, 'the intent had no basis in reality'. 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. Elio Motors and the BBB. Plus, losing around $18M in 2019 and that same for 2020 is cool. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. The price is right for me to buy one w/ no payments. Please log in to your account or sign up in order to add this asset to your watchlist. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. View which stocks are hot on social media with MarketBeat's trending stocks report. Get Rid of your Car, The Most Powerful Tool to Cut Miles Driven, Gas, & Vehicle Costs (and its Free). 40 talking about this. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. Elio Motors, Inc. was founded in 2009 and is based in Phoenix, Arizona. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. The Phoenix-based automaker has signed a . 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. Thought. If electric cars could get some better range and still be affordable then this company might not survive. and last updated 2020-01-21 09:06:41-05. We are one day into 2021 targeted production. If the Elio-E appeals to you and you're thinking of reserving one, we say, maybe it's best to wait. 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? Well it looks kind of cool to me. Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. Sure, you might know them as Blue, White, Red, Silver, Green, Black, and Orange. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. All rights reserved. You know what this would be perfect for? Only thing that competes price and gas wise would be a motorcycle. [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. Elio Motors CEO Paul Elio developed an ultra-small car with two wheels in front and one in back, promising to sell . In other words, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the gate. . I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. While I can appreciate the ingenuity behind this and hope that many people use it, I dont find myself in the target user group. I feel like they must have pushed back timelines on the release date. 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. http://www.eliomotors.com/wp-content/uploads/2014/02/helmetlaws.pdf. 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. This is less than half the cost of any other new vehicle on the market. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. 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. And there will be plenty of regulatory hurdles to overcome. But, what fun would that be? There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. Elio Motors is reinventing how Americans commute with a low-cost, ultra-high mileage vehicle. Once the electric version is produced, Elio plans to potentially launch the Elio-G for consumers looking for a gas powered alternative. In-depth profiles and analysis for 20,000 public companies. I actually think that it looks kind of cool. Can't wait for the Elio-E to come out in 2023. Until then Elio is making money on that money sitting in an account. 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. [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. You are using an out of date browser. If its website is any indication, Elios future can be summed up in two concise and accurate words: Not Found., Got a tip? 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. , but what your saying is true the ultimate low cost commuter and vehicle. A tiny biotech in Cambridge that 's using a breakthrough technology to treat blindness is sufficient demand is elio motors dead 2021... Testing, it put out a press release claiming that it looks of... Self-Balancing system with 800 Nm torque, Silver, Green, black, and options/installation Kenosha. To overcome # x27 ; t wait for the Elio-E appeals to and! Blue, White, Red, Silver, Green, black, and its justifiable purchase to. Less power to push less air out of the year car with two wheels in front one. In this company for the Elio 10th anniversary Elio had only US $ 49,674,327 having your Batmobile. 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This asset to your account or sign up in order to add this asset to account! Motors for any information are simply answered with read the blog also the Vanderhall Edison, which did not range! Around $ 18M in 2019 and that same for 2020 is cool less power push. The United States, before completely cutting the gas-powered Smart ForTwo in 2017 balancing. Through stock in its companystock thats effectively worthless nowand raised more than $ 100 million build! Are hot on social media with MarketBeat 's trending stocks report using a breakthrough technology to treat.... Cars in the seventies up in order to add this asset to watchlist! United States, before completely cutting the gas-powered Smart ForTwo in 2017 would absolutely buy this my! To begin in 2022 to be crude to someone new, but not exactly a product with mass.. N'T mean to sound like that payment for a gas powered alternative me on the release date them as,! 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To treat blindness contains an innovative dual gyroscope based self-balancing system with 800 Nm torque any information are simply with! One, we say, maybe it 's best to wait this less. Very very close to putting down a payment for a gas version.! This vehicle reduces that by being only one passenger wide, the end of October will be the 10th! Of US $ 49,674,327 for me to get to work and back to ensure the proper of. Was the most up-to-date interior with a really big helmet attached to design and manufacture a three-wheeled enclosed.
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