Any Updates On Production

[Rickb]

EM promised an updated projected date would be given after the supplier summit and they have kept that promise .... they rightly didn't promise to give info that the date would be shortened .... right now, that looks like a 3 month delay, I don't see that as being earth shaking

I read that as No Sooner Than 4th Quarter 2016, but more likely well into 2017-18. Still not earth shaking.

 

[Rickb]

I've posted this in another thread, but I think it's pertinent here, as well:

"I guess I'm reading the language differently than most:

"There are two key pieces of information that we’d like to point out. One, the price listed in the Preliminary Offering Circular is “less than $7,600.00.” Second, we state that we do not expect to start delivering to customers until the fourth quarter of 2016 at the earliest."
​

I read that as worst case, my thoughts being that EM is stating to the SEC (and indirectly, the DOE) a date and a price that they are very confident in reaching, so that neither group would bust their collective balls later - or worse, have professional victim "investors" file a class action suit saying they were mis-lead into investing. Remember, too, that CEOs face fines and/or prison time these days for false and mis-leading statements, so I think there is a whole lot of hedging and CYA'ing going on.

And we shouldn't make a mountain out of the hiring & training processes - I've brought new factories online and, with focus, hiring and training can be done inside 4 weeks. Funny thing is, the biggest part of training won't be how to do their 58 second tasks, it'll be all the ancillary stuff..."

Investors mislead? There are pages of info stating it's a high risk investment and that EM may not even get the adequate additional funding needed to build their Elio automobile. No guarantee it will be manufactured at any price.

 

[Coss]

I read that as No Sooner Than 4th Quarter 2016, but more likely well into 2017-18. Still not earth shaking.

The "no sooner" replaces the "Mid 2016" they had been saying; I do not see it as saying 2017.
It still comes down to funding and here again, the government is dragging it's feet.
I get this feeling they are just chomping at the bit to get things rolling and they are trying as hard as they can.
But like I found with Social Security, you don't push on government resources unless you want to see your name go back to the bottom of the pile.
Be patient with them, and they are more likely to cooperate.

 

[Rickb]

The "no sooner" replaces the "Mid 2016" they had been saying; I do not see it as saying 2017.
It still comes down to funding and here again, the government is dragging it's feet.
I get this feeling they are just chomping at the bit to get things rolling and they are trying as hard as they can.
But like I found with Social Security, you don't push on government resources unless you want to see your name go back to the bottom of the pile.
Be patient with them, and they are more likely to cooperate.

Mid 2016 is more specific than no sooner (implies later). For me Mid 2016 was realistically 2017 based on status that hasn't changed, but that's my personal perception and I'm not surprised and/or disappointed by the latest delay announcement. I expect one ot two more delays along the way.

I don't agree that the government is dragging it's feet. I think the DOE is being cautious in waiting for the P5 Build and testing results to verify the applicant's claims. So am I. I assume EM is not foot dragging either to get the P5 rolling in the stated 20 week timeline needed to build it. I would only be disappointed with a P5 delay announcement and simply move on.

 

[WilliamH]

Mid 2016 is more specific than no sooner (implies later). For me Mid 2016 was realistically 2017 based on status that hasn't changed, but that's my personal perception and I'm not surprised and/or disappointed by the latest delay announcement. I expect one ot two more delays along the way.

I don't agree that the government is dragging it's feet. I think the DOE is being cautious in waiting for the P5 Build and testing results to verify the applicant's claims. So am I. I assume EM is not foot dragging either to get the P5 rolling in the stated 20 week timeline needed to build it. I would only be disappointed with a P5 delay announcement and simply move on.

Elio never said anything about a 20 week time line.
He said the P4 was built in about 20 weeks and thought the P5 could be built in less. It seems that you are the one who is setting a time limit and demanding that Elio meet it.
You are also the one who keeps insisting that the P5 is some kind of litmus test for the DoE ATVM UEV low interest loan.
It is your opinion. Nothing more or less, unless you can show us documentation or an audio or video clip.

 

[pistonboy]

EM promised an updated projected date would be given after the supplier summit and they have kept that promise .... they rightly didn't promise to give info that the date would be shortened .... right now, that looks like a 3 month delay, I don't see that as being earth shaking

I agree. Three months delay is not earth shaking. Also, the $7,600 is simply giving themselves a protective margin in what is now a legal document. They would be poor managers if they did not do this.

 

[Ian442]

I thought it was pretty cool throwing my $100 in on Friday. I know you all have had a good chuckle here and there from me since I joined. I now feel even more part of the club.

This isn't some electronic gadget. its a vehicle. Lives are at stake and there is a LOT to go through.

Also because so many swindles have happened in the past 10 years people and investors are not as keen to jump in and understandably so. It will happen but its not on us to dictate or demand the terms.

 

[Rickb]

Elio never said anything about a 20 week time line.
He said the P4 was built in about 20 weeks and thought the P5 could be built in less. It seems that you are the one who is setting a time limit and demanding that Elio meet it.
You are also the one who keeps insisting that the P5 is some kind of litmus test for the DoE ATVM UEV low interest loan.
It is your opinion. Nothing more or less, unless you can show us documentation or and audio or video clip.

Paul mentioned expediting the P4's 20 week time table in building the P5. If it's done it's done. meh! I don't give a rats butt other than it's my opinion at this point in time based on other opinions including EM's. I'm certainly not asking you or anyone else to agree! If the P5 is not completed by Thanksgiving there's a serious problem. MY OPINION!
I think the P5 IS the litmus test to private venture capital, ATVM funding, the E Builds, and a production Elio. The P5 is the next litmus test step to production. EM needs to drive and test a final design and engineering specified Elio Prototype over 35 mph. MY OPINION ONLY! I could post a video clip stating my opinion if you wish to view it.

I personally need to see the P5 and review the testing results to believe it and that is FACT!

 

[WilliamH]

Paul mentioned expediting the P4's 20 week time table in building the P5. If it's done it's done. meh! I don't give a rats butt other than it's my opinion at this point in time based on other opinions including EM's. I'm certainly not asking you or anyone else to agree! If the P5 is not completed by Thanksgiving there's a serious problem. MY OPINION!
I think the P5 IS the litmus test to private venture capital, ATVM funding, the E Builds, and a production Elio. The P5 is the next litmus test step to production. EM needs to drive and test a final design and engineering specified Elio Prototype over 35 mph. MY OPINION ONLY! I could post a video clip stating my opinion if you wish to view it.

I personally need to see the P5 and review the testing results to believe it and that is FACT!

You are not asking people to agree or disagree, yet you get so angry when they don't take what you say as fact.
I note you have now added "over 35 mph" to your specification.
You also claim that your opinions are shared by EM, while the only thing that is provable is that you both think that the major holdup is money. (probably true)
As far as the video clip, you making a video clip would have no more credibility than your written word. It would need to be someone like Paul Elio or maybe Dr. Ernest Moniz - Secretary of Energy.
Please stop trying to spread your own Fear, Uncertainty, and Doubt. (FUD)

 

[Rickb]

You are not asking people to agree or disagree, yet you get so angry when they don't take what you say as fact.
I note you have now added "over 35 mph" to your specification.
You also claim that your opinions are shared by EM, while the only thing that is provable is that you both think that the major holdup is money. (probably true)
As far as the video clip, you making a video clip would have no more credibility than your written word. It would need to be someone like Paul Elio or maybe Dr. Ernest Moniz - Secretary of Energy.
Please stop trying to spread your own Fear, Uncertainty, and Doubt. (FUD)

You misinterpret......you said fact........I said my opinion based on speculation. No anger, No fear, always some uncertainty and doubt with even less uncertainty with the unveil of the P5 and the ATVM Loan approval.