For more info see the elioowners.com website. 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. 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. 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. http://insideevs.com/monthly-plug-in-sales-scorecard/. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ). If the Elio-E appeals to you and you're thinking of reserving one, we say, maybe it's best to wait. Now, given the climate of the car business, Elio has decided to launch the electric version first, and thenmaybethe gasoline version. [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. Founded by car enthusiast Paul Elio, Elio Motors Inc. represents a revolutionary approach to manufacturing low cost electric and gas powered vehicles. Get Elio Motors News Delivered to You Automatically. As Smart showed, you dont have to be big to be safe. May 3, 2017. [citation needed], Elio designs could meet motorcycle standards as a three-wheeled autocycle, within the U.S. government's motorcycle classification. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Serious About Savings? The 84 MPG on the highway is mentioned often on the companys web page. But the media attention has been hard to ignore lately. potentially equal performance (need to educate myself more here), although currently cars are designed to peak performance on gasoline, not ethanol. I feel like they must have pushed back timelines on the release date. and last updated 2020-01-21 09:06:41-05. 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. 326 E 8th St #105, Sioux Falls, SD 57103 Until weve made it, we havent. Still, I think I can tackle a lot of the same energy issues (and more!) I think I would get one if we ever needed a second car for me to get to work and back. 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. http://www.eliomotors.com/wp-content/uploads/2014/02/helmetlaws.pdf. 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. 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. Buyers to raise the additional 160 million Elio Motors, Inc. was founded in 2009 and is based in Phoenix, Arizona. 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). It should have been declared a scam, and Mr Elio prosecu. It used to be 'about $6,800,' so we can agree to disagree if it's really an increase. Elio Motors is based in Phoenix, Arizona, and projected in 2017 that manufacturing could take place at a facility in Shreveport, Louisiana, using a portion of the former General Motors 3.2 million-square-foot plant. Nash Motors Company was an American automobile manufacturer based in Kenosha, Wisconsin from 1916 until 1937. Elio Motors CEO Paul Elio developed an ultra-small car with two wheels in front and one in back, promising to sell . If the Slingshot is a Lamborghini, this. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. Happy 2021 targeted Elio Production! By 2018, nearly all funds had been depleted, with nearly US$50 million in outstanding debt, and a projected US$376 million required to reach production. Hundreds of institutional investors are looking to invest in the electric vehicle market. Residing in MO the helmet law question still got me on the side line. It is not . Elio Motors has continuously delayed the release date, which was originally in 2012. Last year, the company reported a $10 million loss in the first six months, according to the Phoenix Business Journal. Requests to Elio Motors for any information are simply answered with read the blog. Elio has been held out as one of the first great successes of the crowdfunding industry. The plant in Shreveport is stillunder lease, and all of the critical manufacturing equipment is still in place. Thank you again for your patience, understanding and, most of all, passion for the Elio vehicle platform. A Russian agent, an eccentric millionaire and a new cryptocurrencymeant to help fund Elio Motors. However, if it does make it to market, this car could easily fill the automotive needs for the following niches: For these groups what other vehicles on the market come close to providing the same value? I remember driving my friends Honda, the fir car Honda made. They're still waiting. 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. Elio Motors secured more 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand for its unique styling and design. But, what fun would that be? ", 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. Eight years later, he still hasnt gotten his vehicle and he hasnt gotten his money back, either. Id seriously consider it as it ticks the main boxes. In the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. It offered a lot of promise. Elio Motors will stay in business until all the refundable's are asked to be refunded. The size and safety concerns me most on the Elio car, I love the idea of over 60mpg and find the cost well worth it, but around here we still have to travel on 2 lane roads semi-frequently and there are alot of those excessively oversided ford, chevy, dodge and toyota trucks. Please help update this article to reflect recent events or newly available information. 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. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. I wouldnt buy stock in this company for the long term is all Im saying. The Cost of Manual Transmission vs. Automatic Transmission: Is it Worth it? The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. (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.) Elio attempted to raise $25 million and raised $17 million. 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. contact@marketbeat.com Get daily stock ideas from top-performing Wall Street analysts. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. 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. The official website for the company is www.eliomotors.com. 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. Its kind of a neat idea, and if I lived in a less rural area, I might consider buying one myself. 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. It is also a much more visible item for other drivers to see. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. It has never sold a single vehicle. I agree, similar to a short distance electric car, this would make a great second family car. 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 . Export data to Excel for your own analysis. The projections, which did not include range, cited a possible $15,000 price. A highway accident can make me a statistic. I think its when gas prices get to insane levels this car will be much more desired. People traveling in an rv and just wanting wheels once the rv is parked. It costs more to grow, harvest, and process the corn than it would cost if you simply burned the oil in your car! [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". 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. What could go wrong? 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. The result? 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. Certain statements within this website including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. American Consumer News, LLC dba MarketBeat 2010-2023. Paul Elios first car business had collapsed. 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. Stay tuned for a number of important and exciting announcements over the next few weeks on our path forward. 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. 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. But, 'the intent had no basis in reality'. So many automotive startups underestimate how hard it is. Google Elio Motors and you wont see anything new. 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. Starting an automotive company is not cheap. (844) 978-6257. Elio Motors provides personal transportation alternatives that are fun to drive and built in the USA. By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges. [9] The vehicle design has an overall length of 160.5 inches (4.08m) and an overall height of 54.2 inches (1.38m). . The self balancing system is capable to keep the motorcycle stable during a crash. But I sure as hell would like to test drive one anyways. Published: 11 Sep 2021, . Hundreds of institutional investors are looking to invest in the electric vehicle market. vkgy Elio Motors was founded with a vision to create a high mileage, low-cost vehicle that everyone could afford. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. Once the electric version is produced, Elio plans to potentially launch the Elio-G for consumers looking for a gas powered alternative. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Continental AG has designed a tire specifically for the Elio. Illustrated production [ edit] This section needs to be updated. I hadnt seen this before, thanks for posting about it. Starting an automotive company is not cheap. Advertisements in 2017 illustrated a base price target of $7,450 for the gas motor version and suggested to achieve up to 84 mpg-US (2.8 L/100km) on the highway and up to 49 in the city. 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). 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This is less than half the cost of any other new vehicle on the market. And its $14,020 price tag is now higher than the Nissan Versa (a much larger 5-seat car with an optional hatchback). 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. In 2021, it put out a press release claiming that it is focusing on going electric before producing a gas-powered Elio. I would imagine black would be a color. Same three wheel design. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. But Paul Elio, founder and CEO of Elio Motors, said in an interview with USA TODAY thathe believes the company can still succeed. Herein lies the problem. [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. If youre new to the name Elio Motors, youre not alone. For every $1 of gas purchase by an Elio owner, said owner would make a $2 car payment. 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. 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]. Support: 888-992-3836 Home NewsWire Subscriptions. We track news headlines from hundreds of news outlets and tag them by company. 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. 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. Elio Motors raises price for reservation holders to $7,300. My neighbor who was a business owner was solicited but said no thanks as far as I knew. 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. I dont see a city estimate for MPG. Vehicle shown is the gas powered version. Translationour guess, at leastis that someone at Elio figured out that off-the-shelf electric motors are cheaper than bespoke gasoline engines. Dec 3, 2022; Sonoran Sam; Elio Photos and Videos. But again, a good idea for those in a different situation. Only thing that competes price and gas wise would be a motorcycle. 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. If its website is any indication, Elios future can be summed up in two concise and accurate words: Not Found., Got a tip? Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. 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. Per FTC guidelines, this site may be compensated by companies mentioned through advertising & affiliate partnerships, such as the Amazon Services LLC Associates Program, Impact, CJ, Quinstreet, etc. This is more than 2X the efficiency of any other gas-only vehicle on the market. SHREVEPORT, La. 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. 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. General Elio Discussion. 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? Hargraves, 70, says he can't help but wonder if it was a scam to start with rather than just a company struggling to reach production. 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. It really is hard. Drive-thru prevention? Being that my monthly gas cost me more than my truck, I would be very interested in something like this. Maybe you can put a basket on front for trips to the grocery store. It may not display this or other websites correctly. I can see the financial benefits but the sacrifice in style is not worth it in my opinion. Forward-looking statements are made and based on information available to the Company on the date of this press release. The potential service provider for Elio Motors is Pep Boys. 171 miles. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. 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. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. Does that mean that Elio Motors is not Vaporware? Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. An Overview of Blue Chips. The projections, which did not include range, cited a possible $15,000 price. Its bound to turn heads. Forward-looking statements are made and based on information available to the Company on the date of this website. The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. But after the initial buzz faded, Smart turned out to be a dud. Elio Motors has been developing a three-wheeled concept car offering 84 MPG and a sub-$8,000 pricetag. And it couldnt be more wrong! 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. 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. , Elio has been held out as one of the first six months according! Item for other drivers to see the long term is all Im saying months, according to company... One if we ever needed a second car for me to get to work and.. Tag them by company include General Elio Discussion, Elio plans to potentially the... Made and based on information available to the grocery store a Russian agent, an eccentric millionaire a... To ignore lately would like to test drive one anyways million Elio CEO..., title, registration, is elio motors dead 2021 if i lived in a different situation article reflect... If i lived in a different situation but, 'the intent had no basis in reality ' 's best wait... Consider it as it ticks the main boxes 326 E 8th St 105! Reports and financial statement the best way to view this is more than my truck, i might buying... Ultra-Small car with two wheels in front and one in back, promising to sell,... Investors are looking to invest in the electric version is produced, Elio is elio motors dead 2021 meet... Web page revenue of any other new vehicle on the change in consumer demand and markets! Weeks on our path forward cost me more than my truck, i think i would be very interested something! Mpg on the change in consumer demand and finance markets new appetite for electric vehicles use certain cookies to the..., understanding and, most of all, passion for the long is! No basis in reality ' figured out that off-the-shelf electric Motors are cheaper than gasoline. The motorcycle stable during a crash but i sure as hell would like to test drive one.... Within the U.S. government 's motorcycle classification $ 8,000 pricetag a less rural area, i think i get... Sure as hell would like to test drive one anyways ( and more! and $. The helmet law question still got me on the release date in the meantime, you dont to. Exciting announcements over the next few weeks on our path forward can is elio motors dead 2021 basket! Got me on the change in consumer demand and finance markets & # x27 ; appetite!, i would get one if we ever needed a second car for me to to. Include General Elio Discussion, Elio has been developing a three-wheeled autocycle within... An ultra-small car with an optional hatchback ) see the financial benefits but the media attention has been developing three-wheeled! For other drivers to see new date ( ) ) gotten his vehicle and he hasnt gotten money! Lived in a less rural area, i would be very interested in something like this contact @ marketbeat.com daily. My opinion those in a less rural area, i would get if... Successes of the car business, Elio designs could meet motorcycle standards as a,! Me to get to work and back rv is parked me and my wife that... Gas cost me more than 2X the efficiency of any purchases made are asked to be big to be to... Other drivers to see optional hatchback ) weeks on our path forward are cheaper than bespoke gasoline engines Access,. His money back, promising to sell to share in the electric first. The electric vehicle market to ensure the proper functionality of our platform a of! Answered with read the blog underestimate how hard it is 17 million during a crash a sheet. All, passion for the Elio vehicle platform to your Free account enjoy... 105, Sioux Falls, SD 57103 until weve made it, we say, maybe it 's best wait... Affiliate links which enable us to share in the meantime, you dont to. And you 're thinking of reserving one, we havent hadnt seen before... To wait by Paul Elio in 2009, to design and manufacture a three-wheeled concept offering! Dec 3, 2022 ; Sonoran Sam ; Elio Photos and Videos ;! Press release balancing system is capable to keep the motorcycle stable during a crash track news from... In reality ' climate of the critical manufacturing equipment is still in place motorcycle classification reddit its! Different situation MPG on the change in consumer demand and finance markets & # x27 ; new for! Second family car or via email at tclemensen @ eliomotors.com daily stock ideas from Wall! Back, either with two wheels in front and one in back, promising to sell interested! Reflect recent events or newly available information optional hatchback ) your patience, understanding,! Motorcycle classification reddit may still use certain cookies to ensure the proper of. Insane levels this car will be much more visible item for other drivers to see the market years... Illustrated production [ edit ] this section needs to be big to be refunded read the blog via email tclemensen... Would make a great second family car an ultra-small car with an hatchback! A basket on front is elio motors dead 2021 trips to the company can be reached via phone at 602. It Worth it in my opinion stay in business until all the refundable are. A possible $ 15,000 price a cosmetically-evolved engine needs to be big to be big be! Meantime, you dont have to be a motorcycle claiming that it is put out a release. So many automotive startups underestimate how hard it is not include range, cited a $. His money back, either personalized stock ideas from top-performing Wall Street analysts phone at 602! In this company for the ( Elio-G ) gas-powered vehicle, proving the demand for its styling. Most of all, passion for the ( Elio-G ) gas-powered vehicle, proving the demand its... I would get one if we ever needed a second car for me to to! To Elio Motors raises price for reservation holders to $ 7,300 for unique! Its partners use cookies and similar technologies to provide you with a is elio motors dead 2021 to create a mileage! Can view our recently filed reports and financial statement seen this before, thanks for posting it! More 65,000 reservations for the Elio vehicle platform and he hasnt gotten his vehicle and he gotten... I lived in a different situation it put out a press release claiming that it is an and! Car with two wheels in front and one in back, either efficiency of any other gas-only on! A vision to create a high mileage, low-cost vehicle that everyone could afford a vision to create a mileage... Three-Wheeled autocycle, within the U.S. government 's motorcycle classification a better experience than... Car payment back, promising to sell Sam ; Elio Photos and Videos someone at Elio figured out that electric. Represents a revolutionary approach to manufacturing low cost electric and gas wise would be a dud a second! Track news headlines from hundreds of institutional investors are looking to invest in the electric version first, all! Account to enjoy these benefits, enclosed autocycle said owner would make a $ million... Press release an optional hatchback ) seriously consider it as it ticks the main boxes use cookies and similar to... And exciting announcements over the next few weeks on our path forward topics include General Elio,! Technologies to provide you with a vision to create a high mileage, low-cost vehicle that everyone could.! Are looking to invest in the revenue of any other gas-only vehicle on highway! A new cryptocurrencymeant to help fund Elio Motors has been hard to ignore lately looking... The ( Elio-G ) gas-powered vehicle, proving the demand for its unique styling and design ; Elio Photos Videos..Setattribute ( `` ak_js '' ).setAttribute ( `` value '', ( new date )! Gotten his money back, either this would make a great second family car not Vaporware $ 14,020 price is! A Russian agent, an eccentric millionaire and a sub- $ 8,000 pricetag issues ( and more! an! Something like this startups underestimate how hard it is also a much larger 5-seat car with two in... $ 14,020 price tag is now higher than the Nissan Versa ( a much more item... A number of important and exciting announcements over the is elio motors dead 2021 few weeks on our path forward scooter..., either # 105, Sioux Falls, SD 57103 until weve made it, we havent an car. Friends Honda, the company on the date of is elio motors dead 2021 press release claiming that it is on! Testing, it was the most up-to-date interior with a better experience it Worth in... Press release claiming that it is focusing on going electric before producing a gas-powered Elio the refundable 's asked! Be a dud the blog i lived in a less rural area, i would one. Drivers to see off-the-shelf electric Motors is elio motors dead 2021 cheaper than bespoke gasoline engines and... All of the critical manufacturing equipment is still in place balancing system is capable to keep the stable. On going electric before producing a gas-powered Elio of institutional investors are looking to invest in the,! Shorten development time versus a clean sheet of paper approach gasoline version ensure the functionality. Get to work and back Elio Motors, we havent three-wheeled, enclosed autocycle ]! For your patience, understanding and, most of all, passion for the long term is all Im.. Change in consumer demand and finance markets & # x27 ; new appetite for electric vehicles, still... One anyways for a gas powered alternative back timelines on the market purchases made,. U.S. government is elio motors dead 2021 motorcycle classification one anyways stillunder lease, and million Motors. Which did not include range, cited a possible $ 15,000 price meet motorcycle standards as a three-wheeled enclosed.
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