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Elio Motors Appealing $500k Fine

booboo

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Full statement from Paul Elio:

"It is our intention at Elio Motors to make Louisiana our home. The region provides a world-class manufacturing facility and workforce with which to build our low-cost highly fuel efficient commuter vehicle. Elio Motors, our team, our blue chip suppliers and board of directors are working diligently every day on fundraising and vehicle development to move closer to production and bring jobs to the region.

We were recently asked to divert resources away from our mission to meet with the Louisiana Motor Vehicle Commission. The commission, primarily made up of traditional auto dealers, ruled that Elio Motors is already a manufacturer and that we were not currently in compliance with state regulations. We do not believe the findings were in harmony with Louisiana motor vehicle laws nor in the best interest of the people of Louisiana or Elio Motors, and plan to appeal the decision.

We remain committed to succeeding in Shreveport and will continue to work closely with all local agencies to ensure success for everyone. We look forward to creating manufacturing jobs, contributing to the economy and the tax base, to working with the commission and other local leaders and to maximize benefits to the Shreveport community."

http://www.arklatexhomepage.com/news/local-news/elio-motors-appealing-500k-fine/763942002
 
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Frim

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Full statement from Paul Elio:

"It is our intention at Elio Motors to make Louisiana our home. The region provides a world-class manufacturing facility and workforce with which to build our low-cost highly fuel efficient commuter vehicle. Elio Motors, our team, our blue chip suppliers and board of directors are working diligently every day on fundraising and vehicle development to move closer to production and bring jobs to the region.

We were recently asked to divert resources away from our mission to meet with the Louisiana Motor Vehicle Commission. The commission, primarily made up of traditional auto dealers, ruled that Elio Motors is already a manufacturer and that we were not currently in compliance with state regulations. We do not believe the findings were in harmony with Louisiana motor vehicle laws nor in the best interest of the people of Louisiana or Elio Motors, and plan to appeal the decision.

We remain committed to succeeding in Shreveport and will continue to work closely with all local agencies to ensure success for everyone. We look forward to creating manufacturing jobs, contributing to the economy and the tax base, to working with the commission and other local leaders and to maximize benefits to the Shreveport community."

http://www.arklatexhomepage.com/news/local-news/elio-motors-appealing-500k-fine/763942002

Many things are won by people who cannot accept defeat. go Paul!!
 

airforceguy6

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Made in USA

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Perhaps this is all a publicity stunt to get Elio into the news. While the Momentums are nice, there really isn't much new being talked about. Looking at the Elio website there are no "News Releases" since last year. I know, I know, SEC rules, but really, nothing? Looking at the Options I don't see where anything has been added or subtracted in a long time. Still no leather seats, etc. Stock is down to about $6.00 a share. I remain hopeful. Will hold onto my stock until they either go bust or are successful.
 

TMOSteel

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You know, its not like I want to post bad news, but at least its news:

https://www.businessreport.com/article/elio-motors-fined-500k

"The Louisiana Motor Vehicle Commission has accused Elio Motors of breaking state law and fined the startup $545,000 for operating as a manufacturer/dealer of recreational products without a license."

Oh, and apparently the lawyers (Elio's) don't know where our reservation $$$ went...

Its like they really don't want this vehicle to succeed.
 
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