I Want My Money Back. You've Pushed Back The Production Date Five (5) Times.

[WilliamH]

I'm hoping for EM's 1500 added manufacturing jobs, but only mentioned to Jerry that he shouldn't underestimate the importance of the auto industries contribution to an overall stabile economy not to mention the off the shelf parts they will be providing for the Elio. I appreciate the government bureaucrats that are helping Elio to succeed along the way.

Don't get me wrong. I'm just a little tired of an organization that can't make some kind of decision in 15 months. (DoE)
And having all of those folks driving around in $30K+ cars on my nickle doesn't make me too happy either.

 

[Truett Collins]

 

[bowers baldwin]

you will find a lot of pissed off people here when you talk bad about the beloved Elio motors, I am like you have spent the $1000 because I thought it was a possibility, now it gets pushed back all the time and you get a few xxxxxxxx press releases that can be cooked up anywhere and if I could get my money back or even sell the stake in it I would. I read the fine print when I signed up and was ok with it but that was based upon a supposed start production date of 2015. I don't believe for a minute I will ever see it, I do hope it will happen, but doubt it..

Define "a lot" of pissed off people.

 

[Rickb]

Don't get me wrong. I'm just a little tired of an organization that can't make some kind of decision in 15 months. (DoE)
And having all of those folks driving around in $30K+ cars on my nickle doesn't make me too happy either.

There is nothing more than I would like to see than for EM to get positioned for the ATVM Loan approval. They aren't quite there yet only in my opinion. I wouldn't personally approve the loan until the crowdsource funding is in the bank, the P5 is built/tested, some E Builds are well underway in a tooled manufacturing plant, and some evidence of a venture capital revenue stream that indicates their ability to repay the loan. Otherwise there is simply too much risk involved. Don't get me wrong, I have issues with divisive politics instead of getting the people's work done.

 

[WilliamH]

There is nothing more than I would like to see than for EM to get positioned for the ATVM Loan approval. They aren't quite there yet only in my opinion. I wouldn't personally approve the loan until the crowdsource funding is in the bank, the P5 is built/tested, some E Builds are well underway in a tooled manufacturing plant, and some evidence of a venture capital revenue stream that indicates their ability to repay the loan. Otherwise there is simply too much risk involved. Don't get me wrong, I have issues with divisive politics instead of getting the people's work done.

First you said until the P5 is built........

Now you have added crowd source funding in the bank........
and
P5 built and tested .........
and
Some E builds ..........
and
factory tooled...........
and
some venture capital revenue stream........

At that point, they don't need the DoE or any of the other obstructive bureaucrats in Washington.
That's what the government does......
Keep adding requirements.....
They can't get in trouble if they never make a decision.........
positive or negative

Terminate 50% of the Civil Service and we would all be better off.

 

[Rob Liszi]

Well here is my 2 cents... I think it was a video of Paul that I seen and the topic of suppliers came up and he spoke of logistics issue. I believe that most of the suppliers are based in the southeast area of Michigan so "Logistically" it doesn't make much sense to produce parts hundreds of miles away from the assembly plant.
Take for instance the Toledo assembly plant of Jeep. Many of the suppliers are based very close to the plant because of time sensitive "JIT" auto freight logistics. Transporting even 75% of the parts needed to assemble a vehicle would greatly increase the cost of the final product. It also seems as if they are having trouble keeping that proposed figure inline with projected cost... Logistics plays a very large part in that. JMHO!
I am "all in" at $1,000 and really hope that the Elio does come to production; I am also disturbed with the production setbacks but if you didn't have the money to speculate with in the first place you should not have bought "all in".

 

[Rickb]

First you said until the P5 is built........

Now you have added crowd source funding in the bank........
and
P5 built and tested .........
and
Some E builds ..........
and
factory tooled...........
and
some venture capital revenue stream........

At that point, they don't need the DoE or any of the other obstructive bureaucrats in Washington.
That's what the government does......
Keep adding requirements.....
They can't get in trouble if they never make a decision.........
positive or negative

Terminate 50% of the Civil Service and we would all be better off.

William, I said in the past the P5 Build and testing was needed to prove a vehicle to validate the 84 mpg claims (or the minimum reguirement) AND the ability to repay the loan which is a DOE requirement we have discussed in the past. Elio stated that it's likely some parts of the E Build may happen in conjunction with the P5. I've added nothing! Requirements seem to be the DOE's not mine and likely why the loan hasn't been approved to date.

EM will always need the DOE low interest loan funds to help pay down current debt at a 25% interest rate and any future venture capital investor debt that will make our Elio production a reality. . Obviously our views differ slightly on why the DOE has delayed to approve or deny, but we both hope for approval, which is likely given a little more time.

 

[WilliamH]

William, I said in the past the P5 Build and testing was needed to prove a vehicle to validate the 84 mpg claims (or the minimum reguirement) AND the ability to repay the loan which is a DOE requirement we have discussed in the past. Elio stated that it's likely some parts of the E Build may happen in conjunction with the P5. I've added nothing! Requirements seem to be the DOE's not mine and likely why the loan hasn't been approved to date.

EM will always need the DOE low interest loan funds to help pay down current debt at a 25% interest rate and any future venture capital investor debt that will make our Elio production a reality. . Obviously our views differ slightly on why the DOE has delayed to approve or deny, but we both hope for approval, which is likely given a little more time.

I guess you have a lot more faith in the government than I do.
When they don't have hard fast rules and requirements... which they don't....
They can just inch you along until you are bankrupt... Oh! Like they did to Aptera.
As I've mentioned before.... I neither like nor trust lawyers or bureaucrats.

 

[RUCRAYZE]

What part of NON-REFUNDABLE did you not understand

You are the best!! You say in a few words the paragraphs that many write to finally get to the point (includes me)
Guess I should have just posted-


You are the best, !!!!!

 

[RUCRAYZE]

View attachment 7132

That's because there is no "I" in losers