Latest On Production Date: Q4 2016

[Chordsman]

CEO Paul Elio says his latest prediction has been pushed from mid-2016 to the end of 2016:
http://www.ksla.com/story/29947290/elio-motors-announces-another-production-start-delay

 

[charchri4]

Thanks for posting that video I was not aware of the change.

 

[Gas-Powered Awesome]

Welcome aboard, Chordsman.

We were already hearing that in the investment news a couple of weeks ago. I'm surprised more people didn't notice. I updated my prediction in my signature a week or so ago based on the progress, lack of news on the ATVM loan, and slow progress on the 25 "Ex" engineering models. If in the future I find I need to move it again, I'm afraid the next prediction will be "never".

Keep pushing, Mr. Elio! We're pulling for you.

 

[satx]

"As a result of the funding situation becoming more clear", iow, still UNDERfunded, so the production date is delayed yet again.

 

[Smitty901]

More like 2017. But it is not like we did not expect this. We will wait. That is all we can do.

 

[Coss]

They had said Q4 over a month ago, so this is not something new.
It's another media service that is late to the party, which is nothing new for KSLA; they have been "off" on their reporting of Elio since the beginning.
That's also not the current sign in front of the plant; Willie W posted it in a different thread in here.
So don't get too hung up on this story.

 

[Jeff Bowlsby]

Still a believer...but not convinced they can even make a late 2016 date at this point. From the Form 1-A:

Production Plan. Our Vice President of Manufacturing and Product Launches, Gino Raffin, and our consultant for project
management of Shreveport operations have developed the production plan and facility layout. The facility layout has been developed to
utilize the existing infrastructure and flexible design of the buildings at the Shreveport facility. A detailed 47-week launch plan has been
developed, which includes 24 weeks of pre-production activities, 10 weeks of manufacturing validation and training, and 12 weeks7 of
increased production to reach optimal production output. Incorporated into the launch is the plan that the first 125 vehicles produced
will not be sold, but utilized for internal purposes.

They way that reads is about 9 months of time (47-12 = 35 weeks = 9 months) before they even begin production, and that is from the moment they say "go". Between now and "go", they have the P5 to complete, 25 E vehicles to build/test and whatever else that takes time to do and coordinate. One thing I have not seen in any schedule/time projections is...contingency time. I appreciate and respect their tenacity, but there is a longer road ahead.

 

[Coss]

The P5 is in the process of being built now; it was started in June of this year.
There is a different thread that has been discussing the form extensively. You should go and read that discussion, you'll find aspects you may have never thought of before.

 

[John Painter]

No new news though some clarification from PE, http://m.ksla.com/ksla/db_350562/contentdetail.htm?contentguid=BgNycaaW

 

[JEBar]

to me the most interesting info found in the link in post 1 is shown below .... the assurance of an extension from RACER is good news indeed :


"Elio Motors is being held to a deadline by RACER Trust to create the promised 1,500 jobs.

"I think it's most important that we create the jobs and not the month that we create the jobs," said Elio.

RACER Trust owned the plant after GM's bankruptcy, then sold the plant to Caddo Parish's Industrial Development Board. Elio is held to the deadline by financial penalties. The deadline was extended to mid-2016 earlier this year.

A RACER Trust spokesman says they will likely grant Elio Motors another extension to the 4th quarter of 2016.

"RACER Trust maintains full faith and confidence in Elio Motors and its plan to produce its three-wheel vehicles in the former GM Assembly and Stamping Plant in Caddo Parish," said RACER Trust Vice President Bill Callen in a statement.

"CEO Paul Elio has kept RACER fully informed of his progress in securing capital, building a supply chain and other important business milestones. We recognize the challenges of launching a successful startup, particularly in the automotive sector, but we are satisfied with Mr. Elio’s business plan and his progress to date," Callen said"