I think that it will end this summer unless they can get a new owner. Right now it is obvious that there are no investors lined up, otherwise they would they would have released 10k two months ago.
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I Have Given Up On Elio, Have You?
- Thread starter jdkeats
- Start date
Watashiwah
Elio Addict
For the sake of clarity, what’s for the new owner to own? Five obsolete ‘prototypes,’ one (possibly two) with some means of propulsion, a trailer, some plastic signage, a leased space in a communal office rental in Phoenix, a highly leveraged interest in an old Louisiana vehicle assembly space, and at least two versions of CAD drawings with nothing patentable or difficult to re-‘engineer.’ The only other thing Elio Motors has lots of is debt and a few fines and penalties. Who in their right mind would buy into that? Is there anything I’m missing here? There was a cool Sprinter Class B motorhome, but iirc it was gifted to one of the guys a long time ago to pull the trailer: it didn’t reappear in those fishy New York shots a few years back.....
Paul probably walked away with about 4 to 7 million from his interest in ESG Engineering and did earn $ 250,000 / year for probably about 6 to 8 years. I really doubt his dog is even in this race anymore. They are kinda stuck: if they stop taking reservations it will really start the ‘second guessing.’ That couple of days last week when their website was ‘down’ was probably a little test.... I bet it’s really not worth their time to process reservations, if they still are trickling in. Just more liability and ‘bad faith’ for them to muddle thru later.
Paul probably walked away with about 4 to 7 million from his interest in ESG Engineering and did earn $ 250,000 / year for probably about 6 to 8 years. I really doubt his dog is even in this race anymore. They are kinda stuck: if they stop taking reservations it will really start the ‘second guessing.’ That couple of days last week when their website was ‘down’ was probably a little test.... I bet it’s really not worth their time to process reservations, if they still are trickling in. Just more liability and ‘bad faith’ for them to muddle thru later.
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I think that someone could take over the company. They could offer 5 cents on the dollar for the debt and maybe sue Elio Engineering
RUCRAYZE
Elio Addict
Still love the design, and the feel of sitting in it, BUT it's old technology. You know something's up when HD sees the writing on the wall.
There will be no American company, using American parts gonna be building the "&" -profit margine too low.
Think India/China if at all, and if they haven't building 'em then............"The A-Z of three-wheelers a definitive reference guide", will require revision. :-(
There will be no American company, using American parts gonna be building the "&" -profit margine too low.
Think India/China if at all, and if they haven't building 'em then............"The A-Z of three-wheelers a definitive reference guide", will require revision. :-(
84mpg
Elio Addict
IF the Elio were available – I'd take it's very affordable "old technology" getting 80mpg over any overpriced "new technology"on the market today.
But that's just me.... a lot of folks wouldn't feel the same, I'm sure.
But that's just me.... a lot of folks wouldn't feel the same, I'm sure.
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johnsnownw
Elio Addict
"If" it were to get 80mpg using old technology, I'd agree. Unfortunately, that has never been verified.
Samuel Gompers
Elio Addict
I started following the Elio saga almost 6 1/2 years ago. Went to the shows, went to the rent-an-offices, sat in the prototypes, met Paul in person, etc. I gave up on Elio Motors a long time ago, but morbid curiosity keeps me checking in from time to time. Most of the 2013 crowd have died, drifted away, or just moved on. It was a great concept, but a flawed execution from the beginning. If Jack Roush had been involved back in 2013, we might all be driving Elio's now.
84mpg
Elio Addict
“If Jack Roush had been involved back in 2013, we might all be driving Elio's now.” That is probably true. It’s a shame it didn’t happen that way. It really is. But, at least Roush is involved now - or in a position to be involved. I’m glad they’re on deck to help. Better late than never.... (I hope).
BaldGuy
Elio Addict
How did that go? Did you see anything? People working?
Samuel Gompers
Elio Addict
When I went to the Mesa address, it was the office of the CAD guys who did the early design. They were unaware that Paul was using their address as the business location. When I went by the Phoenix office, there were no Elio signs of any kind. I did get there after office hours, and didn't bother to go back after seeing the place. Both experiences were a bit discouraging.