1/15/2014 - Ksla - Elio Motors Announces Delay, Production Expected To Start In 2016

[BilgeRat]

Yep, just got my letter as well. I don't feel like carrying a torch or a pitchfork. I'll just wait until April 2016 for my 2016 Elio. More time to get a higher pile on the money. Although I do extend my sympathy to the folks who were using duct tape and glue to keep their clunker running until their shiny new Elio was safe at home.

Perfectly said, thanks.

 

[Keith Dahl]

I am one who isn't in a hurry and appreciate the transparency. if only the politicians could take a lesson. the more bugs worked out before "going for it" the better. (and besides maybe I can pay off my loans for roof and pal pay and amazon card and home depot before then)

 

[charchri4]

What letter is this you folks speak of and what's it say?

 

[BilgeRat]

Check the thread "Paul's Letter".

 

[NSTG8R]

What letter is this you folks speak of and what's it say?

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,

Paul

 

[Ty]

I've been predicting this all along. It just didn't add up. No prototypes, no money, no DOE loan, no employees... Paul will continue to sell off the remnants of the factory and bank a few million on the sales. After the DOE disapproves his loan (no later than this summer) he will make another delay announcement maintaining the 12-18 month production date to bait more reservationists. The big Wall Street type investors will have already pulled out and the Elio will be sunk. Paul will not admit this and instruct (demand) that all of his Elio employees leak nothing (just like what happened last night). Paul will hand out golden parachutes to his faithful few and tell the rest of us to go to hell.

Just a week ago I was labeled a “hater” for predicting what just happened. The truth sometimes sucks and I’m more disappointed than most because I’ve been in this game longer than most. Paul Elio just lost a majority of his creditability last night and investors took notice. I highly recommend he take up politics after this, he already has the foundation in lying, misleading, dodging answers, and fund raising. By the way, it was so cold in Virginia this week I actually saw a politician with his hands in his own pocket for a change.

I can't honestly say Paul has lied. I can say he overestimated his abilities (and other's) to get the funding in place. It seems that if the money happened to become available tomorrow, they would once again be on track for production this year. I haven't heard a lie from Paul yet. Now, the negative people out there will say that Paul keeps announcing production and then delays and that is a lie. It isn't. It is called being wrong about a forecast. There was a delay when the first loan attempt was aborted, another delay when Caddo delayed the factory, and this delay which is due to funding. I didn't go further back than the first funding delay because I don't know what the reasons were at that time. Anyway, wrong, yes. Lier, no.

 

[wayne kemp]

I can't honestly say Paul has lied. I can say he overestimated his abilities (and other's) to get the funding in place. It seems that if the money happened to become available tomorrow, they would once again be on track for production this year. I haven't heard a lie from Paul yet. Now, the negative people out there will say that Paul keeps announcing production and then delays and that is a lie. It isn't. It is called being wrong about a forecast. There was a delay when the first loan attempt was aborted, another delay when Caddo delayed the factory, and this delay which is due to funding. I didn't go further back than the first funding delay because I don't know what the reasons were at that time. Anyway, wrong, yes. Lier, no.

It's a LIE. He is the head man in charge and should know. If he doesn't he should find out or shut up.

 

[Ty]

It's a LIE. He is the head man in charge and should know. If he doesn't he should find out or shut up.

What was the lie? I don't remember hearing any lies.

 

[bowers baldwin]

What was the lie? I don't remember hearing any lies.

Well NASA does it all the time, they promise me a launch time and they ALWAYS seem to miss it. Or they promise to put a certain satellite in orbit and *BANG* it explodes, nothing but a bunch of lying know-it-alls. It's not like it's rocket science.

 

[Ty]

Well NASA does it all the time, they promise me a launch time and they ALWAYS seem to miss it. Or they promise to put a certain satellite in orbit and *BANG* it explodes, nothing but a bunch of lying know-it-alls. It's not like it's rocket science.

LOL. That's a good one. Why would we expect NASA (or Elio) to be able to control outside forces or weather?