January 15, 2015 Delay And Delay Repercussions Discussion - All Others Will Be Combined!

[Kuda]

Snipped:..........just another target date that has NOTHING to support it.

Have to agree with you, [re. 'we have enough funds to make production' & therefore don't need
further investment.] Something happened in the background to make that statement invalid. That
said, I don't agree that their new target has nothing to support it. Elio isn't without assets & brains.
The bespoke motor runs & will be unveiled shortly, to much fanfare. This will, no doubt, still some
of the negativity & stimulate further investment. Will Elio reach its 230mil....your guess is as good
as mine, but the ATVM loam looks to be more of a factor than was previously projected...............

 

[CheeseheadEarl]

View attachment 4391

West 7th in St. Paul. I haven't been there in far too long. Thanks for the suggestion.

Some day, in an Elio.

 

[lnwlf40]

I am highly disappointed with the delay announcement. Right after the completed engine pics were released I almost upgraded my $100 all in to $500, but for some reason decided to wait and not react based on excitement. Turns out my hunch was right. The delay announcement came shortly there after. That sucked the desire to put up more "all in" money right back out of me. Maybe advances with the plant, government loan, or crash testing vehicles will help me feel confident enough to upgrade at all. The next 6 months are going to be crucial, for me.

 

[Rickb]

Elio Motors really should not be viewed as an 8 year old start-up as it essentially failed in 2011. The company which emerged from the shadows in January 2013 is pretty much a new company with mostly new investors, a new vehicle design P3/P4, new engine design and design company, and a new plan for production in Shreveport, LA.

The lease was not completed a year ago this month but instead EM got access on May 1, 2014. It then took several month for Comau to do a complete inventory and inspection on all the equipment and decide exactly what pieces needed to stay and what would be sold off. The equipment moving and refurbishing process did not even physically begin until September however it has indeed been slower than EM had expected. Paul Elio admitted this in the Town Hall today and stated that this issue is what has caused EM the finding issue they are having now as they had expected the equipment revenue to fund operations this year including the engine and vehicle development program however that funding has not materialized just yet.

I've followed the Elio concept since the original 2008 Hello Elio Campaign which I think was to test market demand. It did generate much interest and support over a year or two then Elio dropped off the radar. Although, I found a periodic news release that followed Paul Elio through a search for Detroit manufacturing facilities. The big news was the Shreveport find in 2013. Seems like the same startup company, but finally having actual investor backing and a locked in manufacturing facility. Irregardless, the serious startup to production was 2013 and Elio has made a lot of progress in 2 years.

With that said, this last delay based on the lack of funding which they said they had leads me to lower than ever confidence levels.

 

[BADBOY]

Elio Motors really should not be viewed as an 8 year old start-up as it essentially failed in 2011. The company which emerged from the shadows in January 2013 is pretty much a new company with mostly new investors, a new vehicle design P3/P4, new engine design and design company, and a new plan for production in Shreveport, LA.

The lease was not completed a year ago this month but instead EM got access on May 1, 2014. It then took several month for Comau to do a complete inventory and inspection on all the equipment and decide exactly what pieces needed to stay and what would be sold off. The equipment moving and refurbishing process did not even physically begin until September however it has indeed been slower than EM had expected. Paul Elio admitted this in the Town Hall today and stated that this issue is what has caused EM the finding issue they are having now as they had expected the equipment revenue to fund operations this year including the engine and vehicle development program however that funding has not materialized just yet.

Troy, Mi. (Jan. 7, 2013) – Elio Motors has taken the next step in its plan to manufacture its 3-wheel vehicles and bring 1,500 jobs back to the facility just southwest of Shreveport. The Caddo Parish Industrial Development Board (IDB) completed its purchase of the former General Motors Shreveport Assembly and Stamping Plant, allowing Elio Motors to progress in their manufacturing timeline.



Elio Motors will rent approximately 1.5 million square feet of the 4.1 million square foot building from Industrial Realty Group, who leases the building from the IDB. IRG will seek a tenant or tenants for the 2.6 million remaining square feet of the building, which may include suppliers for Elio Motors.



“This has been an extremely exciting week not just for me personally, but for the entire Elio Motors team. We’ve had an incredible amount of momentum which has led us to a new plant that will be the foundation for building the new vehicle,” said Paul Elio, CEO and founder of Elio Motors. “Plus, we also raised over $7 million to help us move forward. My dream has been to build a new kind of safe, reliable, fuel-efficient vehicle here in the United States, and Caddo Parish was the ideal location. Acquiring this plant and all of the equipment in a fully operational state will allow Elio Motors to thrive right off the bat once commercial vehicle production begins in 2015. This deal would not have been possible without the support and confidence shown by RACER Trust. I am very grateful to the Caddo Parish community for their support in addition to IRG and the State of Louisiana, and I look forward to a prosperous future for our company and the people with whom we will grow and flourish.”

https://www.eliomotors.com/press-release-elio-completes-plant-deal/

 

[Horn]

You will never know.

One reason why its hard to believe in the Elio for some people. If you provide info, dont you think you should have a source that others could verify?

 

[goofyone]

https://www.eliomotors.com/press-release-elio-completes-plant-deal/

Did you actually read what I wrote? That post does not address the effective plant lease date or the fact that the Elio Motors that emerged with that press release should essentially be considered a new company for all the reason I stated.

 

[Catia]

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That is a cool looking card!

 

[BADBOY]

Did you actually read what I wrote? That post does not address the effective plant lease date or the fact that the Elio Motors that emerged with that press release should essentially be considered a new company for all the reason I stated.

yep did you read the first sentence from the ELIO website I linked?
"Elio Motors Set to Begin Operations of Former GM Plant in Caddo Parish "

Look G1 I am not trying to be disrespectful to you but it does seem to me and others that PE was overstating quite a bit. I am not saying he is a liar or bad guy but I am not satisfied with him saying he had money to begin production then come to find out he does not.

 

[goofyone]

yep did you read the first sentence from the ELIO website I linked?
"Elio Motors Set to Begin Operations of Former GM Plant in Caddo Parish "

Look G1 I am not trying to be disrespectful to you but it does seem to me and others that PE was overstating quite a bit. I am not saying he is a liar or bad guy but I am not satisfied with him saying he had money to begin production then come to find out he does not.

I doubt anyone is happy with the way this has played out and also understand that most of us are likely frustrated from dealing with the fallout from this news. From what I was able to witness today in the town hall meeting that feeling even extends to Paul Elio himself. I guess we all just need to take it easy few days.