2021; JEBar; The Elio. 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. [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. Not only does it need millions in cash quick, now the state of Louisiana has leveled a $545,000 fine against the company. Founded by car enthusiast Paul Elio, Elio Motors Inc. represents a revolutionary approach to manufacturing low cost electric and gas powered vehicles. Elio Motors has continuously delayed the release date, which was originally in 2012. And we may or may not make it. And its $14,020 price tag is now higher than the Nissan Versa (a much larger 5-seat car with an optional hatchback). 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. Until then Elio is making money on that money sitting in an account. "[17], This lack of an actual product over a near-decade long span has caused critics to call their car vaporware. I reserved one, I love its look, the fuel economy and the fact that it is bold forward thinking American ingenuity. I was commuting about 85 miles round trip everyday so it would have been perfect for that. Elio Motors assumes no obligation to update the information within this website. texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. The Elio was to be built at GM's shuttered Hummer plant in Shreveport, Louisiana, where the company promised to create 1,500 new jobs. These dates have made automotive analysts question the company's ability to bring a product to market. [9] The vehicle design has an overall length of 160.5 inches (4.08m) and an overall height of 54.2 inches (1.38m). In the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. 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. Get short term trading ideas from the MarketBeat Idea Engine. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ). Minimalist hipster haha Id most def. Imagine getting in your car and putting on a helmet. Its actually sad because it had such promise. Looks hideous! [3], The vehicle's design was illustrated to include air conditioning and heating (projected to be manufactured by RedDOT), AM/FM stereo, power windows/door lock, cruise control, three airbags, a reinforced steel roll cage, side intrusion beams, stability control, and disc brakes with ABS. 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. Elio even came up with an innovative financing scheme, effectively a secured credit card with the car as collateral. [18], The Elio web site blog[19] and press release areas were not updated between December 2019 and September 9, 2021, when a redesigned website emerged and announced the company's intention to produce an electric motor version of their three-wheeled vehicle at double the cost. Simply because a new idea is presented doesnt mean its a good one, and Smart is making a smaller car for about the same amount of money as a bigger one with about the same fuel economy. And now, I think Elio has a legit shot at making it. [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. Plus, you could hand out Elio cards after you get candy. The projections, which did not include range, cited a possible $15,000 price. I would buy if I needed low volume cargo work. It makes me think of a better less electric version of the Corbin sparrow. "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! $14,900 electric Elio is what we all have been waiting for. (We've driven the Solo, and those customers have our sympathy.) Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. We are planning on starting production with the Elio-E to take advantage of both financial investment opportunities and consumer demand in the electric market. 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. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. Despite no high-priced batteries in its drivetrain, it is anticipated to be rated at 84 mpg highway and 49 mpg city. 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. 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. Forward-looking statements are made and based on information available to the Company on the date of this website. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. You could put a little bat logo peel-off sticker on the hood! The Phoenix-based automaker has signed a . All Rights Reserved. Hundreds of institutional investors are looking to invest in the electric vehicle market. The offering was deemed a success because it raised $17 million from thousands of small investors. I have been driving a 95 civic dx for a few years and average around 45mpg highway and city combined. 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. Wow, it has been a while since we have had the chance to say that and frankly, it feels good and were back! Danny King. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. If electric cars could get some better range and still be affordable then this company might not survive. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ). This is a different car though and its time is here. Elio Motors stock price is up 136 percent today because of the announcement,. Its a long shot, but hopefully a well-funded competitor catches on to the concept, if Elio does not take off. 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. After one trip in that cramped little thing, I never got in one again until Honda made cars larger. Did you read the agreement you signed when you put your $1,000 in? 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. 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. Nash Motors Company was an American automobile manufacturer based in Kenosha, Wisconsin from 1916 until 1937. 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. Why? Update: This story has been updated with a comment from Elio. I guess Im having trouble with the 2 cars that seat 3 comment. 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. Forward-looking statements are made and based on information available to the Company on the date of this press release. But the media attention has been hard to ignore lately. Please help update this article to reflect recent events or newly available information. Threads 125 Messages 4K. ", "This Startup Will Buy An Old GM Plant In Louisiana, But Is Their Car Real Or Vaporware? Home. Elio Motors' mailing address is 2942 North 24th Street Suite 114-700, Phoenix AZ, 85016. 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. American Consumer News, LLC dba MarketBeat 2010-2023. Hundreds of institutional investors are looking to invest in the electric vehicle market. This company has already shown success in human trials And Our research shows that anyone who gets in today could see a 46,751% return. What were trying to do is hard. Show me the crash test datathen I might buy become a believer. But I sure as hell would like to test drive one anyways. I agree, similar to a short distance electric car, this would make a great second family car. Still, the Elio-E has the potential to be an interesting car. What is the market capitalization of Elio Motors Inc Stock? After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. Mark your calendar and go out as an Elio for Halloween (don't forget the Starbucks Venti Coffee). 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. 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? Considered, but if they sold these with This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week. document.write(''); 0.44Average Auto/Tires/Trucks News Sentiment. It offered a lot of promise. The result? 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. View Gallery 17 photos Last week Elio Motors put a price on. The production date is currently estimated to be next year, 2018, but many potential Elio owners are skeptical that the day will ever comeespecially as news keeps trickling out about Elio. Vehicle shown is the gas powered version. TSLA $194.76 2.52% MULN $0.423 3.63% AMZN $102.18 -1.17% BOIL $6.28 8.09% AAPL $151.73 -1.79% XELA $0.0660 10.37% 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? Posted at 6:00 AM, Jan 21, 2020 . Threads 125 Messages 4K. By: Joe Ducey. 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. 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. So innovation is severely lacking. I actually think that it looks kind of cool. The company never responded. Bad idea for many people. For more information, please see our 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). It is not . 4-6 hours. 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. I am sure I would get some looks but with that kind of MPG and price I would definitely purchase it. 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. 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. After a half-decade of fits and starts, E-M has actually delivered a few cars to customers. Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. -- 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 . 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? The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. 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. Well it looks kind of cool to me. Our daily ratings and market update email newsletter. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. 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