Lest we forget....

[RSchneider]

Up-to-date information? This is almost a year old. But, still, I was not ready to hear from the horse's mouth, "I am an entrepreneur of failED publicly traded company". I am hurt beyond belief. My heart is broken. The pain I feel can't be a minute as what he has been dealing with. But, Why is it still on the stock market? I just don't get it.

A few things I took away from with his interview:
1. Same exact speech and stats he gave out over 10 years ago when he was pushing Elio Motors.
2. His company has failed. Which means, it's done.
3. I knew he would resurface in another market and he has done so. This is because this new market doesn't even know what Elio Motors was or what happened. So, it's like starting all over again.
4. Serial Entrepreneur. As you can see, just like his partner Hari, they just keep starting businesses all in hopes one of them work. Most of the time, they fail. You see he mentions Elio Engineering, Elio Motors, Renew Auto Sales and now he's onto this.
5. He was all about that ICE engine but did an about face and is all about EV's. Relates to point #4. Go after what is popular at the time.

As for the stock, it costs nothing to let it just go until it gets officially suspended. This is what Arcimoto is doing and Moller International finally got suspended. When it does, unless you follow their SEC filings, you'll pretty never see it listed anywhere. It typically takes about 4 years of not filing with the SEC. For Elio, I'll predict that it'll be around May of 2026.

 

[LillyMayPatterson #1685 & #5648]

Thanks for the explanation about stocks.

 

[JohnJ]

Thanks for the explanation about stocks.

I agree. Thanks!

I don't know much about "big business", but the only thing I see that gives me any hope... and it's slim to none, is that the new administration in Washington will somehow get Elio the financing needed to produce cars. I say it's slim because I feel sure there are powerful interest groups who do not want to see the Elio on the market for their own personal interests. All we can do is wait and see and I'm not holding my breath....

 

[Rickb]

I agree. Thanks!

I don't know much about "big business", but the only thing I see that gives me any hope... and it's slim to none, is that the new administration in Washington will somehow get Elio the financing needed to produce cars. I say it's slim because I feel sure there are powerful interest groups who do not want to see the Elio on the market for their own personal interests. All we can do is wait and see and I'm not holding my breath....

If Elio had an actual fully certified and road tested production ready three wheel motorcycle classified vehicle, there would be more hope for funding assist/tax credits making it more affordable……………from the current administration. Also, if Elio partnered with a motorcycle manufacturer in Mexico or China……..the tariffs proposed by the new administration would add to the consumer cost.

 

[RSchneider]

I agree. Thanks!

I don't know much about "big business", but the only thing I see that gives me any hope... and it's slim to none, is that the new administration in Washington will somehow get Elio the financing needed to produce cars. I say it's slim because I feel sure there are powerful interest groups who do not want to see the Elio on the market for their own personal interests. All we can do is wait and see and I'm not holding my breath....

You need to go back to 2016 when this was discussed heavily (about the incoming administration) and many wrote to that administration for them to help Elio.

Also, what powerful interest groups never wanted to see Elio on the market? Please explain because if you are thinking it, then you have an idea of who they are. I'd like to know.

We don't have to wait because Elio is done and only a business on paper. Plus, it's way over the $230M in debt too. I stopped counting a few years ago. In addition to that, the founder and CEO just told me, it's a failed startup. Just listen to the podcast and he will tell you that too.

 

[Interested]

You need to go back to 2016 when this was discussed heavily (about the incoming administration) and many wrote to that administration for them to help Elio.

Also, what powerful interest groups never wanted to see Elio on the market? Please explain because if you are thinking it, then you have an idea of who they are. I'd like to know.

We don't have to wait because Elio is done and only a business on paper. Plus, it's way over the $230M in debt too. I stopped counting a few years ago. In addition to that, the founder and CEO just told me, it's a failed startup. Just listen to the podcast and he will tell you that too.

Two groups come to mind that do not want Elio or similar to succeed. Gas companies, because it would cause lower sales. Car companies, because they make profit on expensive cars and don't want people to have that choice. I could add motorcycle companies, because they want to be able to do it themselves to satisfy their existing older customers. Insurance companies for same reasons as the car companies. Oops that's more than two. You get the point.

 

[RSchneider]

Two groups come to mind that do not want Elio or similar to succeed. Gas companies, because it would cause lower sales. Car companies, because they make profit on expensive cars and don't want people to have that choice. I could add motorcycle companies, because they want to be able to do it themselves to satisfy their existing older customers. Insurance companies for same reasons as the car companies. Oops that's more than two. You get the point.

If what you say is true, then Tesla would have never made it because they have lowered gas sales, not just in the US but globally. In addition to that, why did the gas companies invest heavily into Lucid? It's an EV and thus results in lower gas ales.

Car companies. With this being what you say, why didn't the car companies call of the automotive suppliers and engineering companies (i.e. IAV which is owned by Continental and VAG) and tell them to not deal with Elio or they will take their business elsewhere.Plus GM could have easily called Racer Trust and tell them to not lease the plant to Elio and not sell them the equipment inside. Those right there would have nipped Elio in the bud. Yet they let it go for years.

Motorcycle companies. The only one that even did what you say is Polaris. No other one currently is making anything that remotely resembles an Elio. If Elio was such a great idea, why doesn't just one of them do something like an Elio? Nothing is stopping them. Out of any company, you'd think Honda would has they are in automotive and the motorcycle business. They have more than enough when it comes to experience and resources.

I do not understand the insurance companies argument at all. I do know that people are misinformed because they think that an Elio will be used just like a car and drive it 12 months out of the year in all sorts of weather all while driving 12K+ miles per year, yet only pay the price for a motorcycle. Insurance companies are not that stupid and that's why they employ actuaries. They determine the risk and when they see an Elio, they know it's not like me where my motorcycle sits for 5 months out of the year due to the weather. Same for my RV. It's cheaper to insure than my car. Why? Because I don't use it as a daily driver and it sits for months on end in my driveway.

The real reason is because three wheelers like the Trikke, do not sell in the numbers like Elio was planning. They are niche. Plus, Paul never validated that the Elio could get up to 84 mpg, be able to build it at the price he quoted and if it was as safe as he claimed it was. Without ever doing that and even getting to the point of pre production prototypes, Elio was never going to get the investment. Plus, it had mediocre interest. Top it off, Paul made some terrible mistakes early on and it cost him down the road. He was literally trying to go into full blown production as opposed to building up the business brick by brick.

 

[Sonoran Sam]

@RSchneider -- just to reinforce your post. When I worked, I commuted year round on my motorcycle. My insurance company knew about it and charged me about $120/year for full coverage. Now that I'm retired and only have liability on it -- $41/year.

By comparison, my car insurance was about $1,500/year (full coverage on an econo-box car).

I never asked but I'm guessing that the insurance companies think a 400 pound motorcycle can do less damage to another vehicle than a 4,000 pound car. Also my bike (brand-new) costs only $5K, cars were upwards of $20K+, then. There is less exposure & less costs to the insurance company, therefore premiums will be lower.

I imagine when I go to insure my BEX Mongrel, my motorcycle insurance company will look at the cost of the vehicle and the potential damage it could do to another vehicle (based on its weight, etc.), then charge me accordingly for how I use it.

One motorcycle insurance company I looked into, charges you a very low base rate and then charges you by the mile. You take a picture of your odometer each month, email it in and they charge you accordingly. So if the bike sits 5 months a year, you'll just have that minimal low base rate. Again, you are directly paying for the exposure/risk that the company incurs.

 

[RSchneider]

@RSchneider -- just to reinforce your post. When I worked, I commuted year round on my motorcycle. My insurance company knew about it and charged me about $120/year for full coverage. Now that I'm retired and only have liability on it -- $41/year.

By comparison, my car insurance was about $1,500/year (full coverage on an econo-box car).

I never asked but I'm guessing that the insurance companies think a 400 pound motorcycle can do less damage to another vehicle than a 4,000 pound car. Also my bike (brand-new) costs only $5K, cars were upwards of $20K+, then. There is less exposure & less costs to the insurance company, therefore premiums will be lower.

I imagine when I go to insure my BEX Mongrel, my motorcycle insurance company will look at the cost of the vehicle and the potential damage it could do to another vehicle (based on its weight, etc.), then charge me accordingly for how I use it.

One motorcycle insurance company I looked into, charges you a very low base rate and then charges you by the mile. You take a picture of your odometer each month, email it in and they charge you accordingly. So if the bike sits 5 months a year, you'll just have that minimal low base rate. Again, you are directly paying for the exposure/risk that the company incurs.

In our state we have yearly state inspections. Thus when you bring in a vehicle or motorcycle, they have to enter the mileage in the state computer. Thus, the mileage is known. Plus for registration, you need to put down the mileage each year or two. I do know on old classic plated cars, there is no inspection. So my neighbor who has a 1965 Mustang has to do the same thing, take a pic of the speedometer each year. Thus his lower rate is related to the mileage. Plus, he will not be insured if it's driven on the road from November 1 to March 31. He cranks out around 1200 miles per year on that car.

So the one fits all of motorcycle insurance will be really cheap for a three wheeler is not true. Yet, the companies trying to sell them, lead people into believing that it's just like a motorcycle.

 

[Sonoran Sam]

My state used to make motorcycles go through emissions tests every two years, but dropped that requirement somewhere around 2011-2012ish. Cars/light trucks have to go through an emissions or OBD2 test every two years (unless 1966 or older).

Although, I found cheaper insurance -- here is the link, where you take a picture of your odometer (monthly).

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