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1/16/2016 Letter From Paul Elio

wayne kemp

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Dear Elio Family:

When I started Elio Motors, I always thought the most gratifying part of the experience would be seeing the vehicle go from concept to reality. After all, I’m an engineer. That’s what we do. We dream big and turn those dreams into a product people can use, enjoy, even love.

But, a funny thing has happened on our journey. The real gratifying part of building a vehicle from scratch has been meeting the thousands of fans across the country who understand and support our mission. The people who have made reservations, or even just the ones who come to events with enthusiasm have altered my world view.

Nothing is more important than supporters like you.

With that in mind, since our inception we have adopted transparency as one of our core values. Keeping our customers up to date in a timely manner on our progress is incredibly important to our mission.

That’s why it is a top priority of our company to let you know we have pushed back our 2015 production target. We now anticipate production date in the first half of 2016. We have many of the major building blocks in place to succeed, including our vehicle design, our world-class team of suppliers and the manufacturing facility in Shreveport. In addition, we will introduce our engine to suppliers, investors and media on Feb. 6. Even with all that progress, the key component that affects our timeline is funding, and these efforts continue to take shape as we have several strategies in place to expedite the fundraising efforts. We have retained Corporate Fuel Securities, a New York-based FINRA registered broker dealer to act as financial advisor and placement agent in our fundraising efforts. And, we can raise potentially millions of dollars through the sale of surplus equipment in the Shreveport facility. In fact, here is a web site where you can take a look at all the surplus equipment available (Surplus Elio Equipment).

Additionally, there are a few other strategies we are working on behind the scenes that we’ll be able to announce in the near future.

Rest assured, every single Elio Motors team member is working diligently every day to get us closer to production. All we ask is for your patience and support as we continue this journey. The Elio is revolutionizing the way people will commute and we look forward to the day you take delivery of your Elio. That day is coming.

As we move forward with our fundraising efforts, we will share what information we can, as soon as we can. Thanks again for your support and your belief in Elio Motors.

Best regards,

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Paul
 

Smitty901

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Well written does not say a darn thing. He would be in much better standing with me if he had just laid it out some time ago. He knew they were in deep trouble. That equipment is unlikely to be worth near what they think. Other wise it would have been sold long ago.
If he has a trick up his sleeve he had better just put it out there. I hear this kind of corporate double talk all of the time.
 

BADBOY

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yeah I just posted it in another thread about anything new. I am pissed off to be blunt. I think the money has been the issue and the comments in interviews were misleading that he had money from on board investors to go forward even without the gov't loan. If I had been waiting as long as many of you I would be furious. I guess it makes it worse that he says "being transparent and keeping up to date in timely manner."
 

puppeto

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Can't say that I'm surprised. Hard pill to swallow though to see that date pushed back again.

Honestly when I saw the email pop up and that it was from Paul that it was far worse news. Hopefully they get funding solved soon or one day that may be the email we get.

So overall disappointed yes....lost faith? Not yet, but not going to upgrade my all in to $1000 unless I see something solid happening to clear the plumbing and get this s*** behind them.
 

james92se

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Did anybody genuinely not see this coming? A while back I called BS on the 2015 timeline just from a pure logistical standpoint and I stated anybody who believed they would be driving an Elio in 2015 was naïve or hopelessly optimistic. Of course that was near hypocrisy here. But seriously, this delay was very obvious wayyyyy back.

Beyond that, his wording indicates they haven't even sold any equipment yet, when it was assumed they've long been working on that
 

BADBOY

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Did anybody genuinely not see this coming? A while back I called BS on the 2015 timeline just from a pure logistical standpoint and I stated anybody who believed they would be driving an Elio in 2015 was naïve or hopelessly optimistic. Of course that was near hypocrisy here. But seriously, this delay was very obvious wayyyyy back.

Beyond that, his wording indicates they haven't even sold any equipment yet, when it was assumed they've long been working on that
Just don't forget it is unwise to kick us when we are down.
 

james92se

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Just don't forget it is unwise to kick us when we are down.

Not trying to do that, just saying this isn't and shouldn't be a surprise to anybody at all. So this shouldn't impact how people feel about the Elio because it was always PLAINLY obvious (at least to me, and I'm no psychic) that there was no chance there would be an Elio on the road in 2015. One of the moderators even argued with me about that in a thread here.

I'm still very cautiously optimistic for an Elio in late 2016
 

Phil B

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When I made my all in $1k deposit, I knew this was more a gamble than an eventuality. The real reason, the true ugly beast raised its head in the Paul Elio letter. NO MONEY! The Obama comment about the message is probably close to perfect. I wonder if Paul Elio used a TelePrompTer while he wrote the letter? Until Elio Motors secures MONEY to build this vehicle the production date will never be a reality.
 

BilgeRat

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I had hoped that production would start late this year. This has me somewhat pissed, but as james92 says, I will remain cautiously optimistic for next year. This is exactly the reason that I stay on the fringes (i.e. no money sunk into it yet), so I guess we'll see what we'll see. Still believe in the basic concept, it's still good, so I'll sit on my thumbs and wait...
 
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