Locked In

[electroken]

Same here

I called them on the phone and they confirmed they're having a bit of a glitch, and suggested I try again later today.

 

[booboo]

I think I'm locked in... thrice .
Followed the e-mail, filled out the form, checked the boxes, and all I got was a lousy pop-up.
" Thank you for completing the binding agreement. Your price will be locked at $7,000 upon verification of an All In non-refundable reservation."
That is all.

 

[Ty]

After reading through this thread I'm under the impression that I'm supposed to get an e-mail from Elio.

So far, I got a rock.

#11346, $1k (+$500) all in.

Are you going to be keeping that rock?

I'm going to cut and paste most of the email here. You can follow one of the links. Work network kills links so bear with me.

Here.

Hello, ______

Over the last few months, progress has been accelerating. We have shared several major milestones that we have achieved recently including publicly listing our stock , launching our innovative new ePlus mass personalization system, and unveiling the E1A, the first in a series of engineering vehicles utilized for final testing and validation purposes. As we move closer to production, our financial team is working diligently to secure the next round of funding that will help us put Elio vehicles on the road.

As we have discussed both publicly and in our filings, we are pursuing multiple sources to help us fund each step, one of which is the Advanced Technology Vehicles Manufacturing (ATVM) loan program from the U.S. Department of Energy (DOE). We believe that Elio Motors is a perfect fit for this program based on the government’s own stated mission.

According to the U.S. Department of Energy Loan Programs Office (LPO) http://go.eliomotors.com/e1t/c/*W3p...7BZPv1W1BM_vh5qJSY3N9k32s64ZDLyM1_Q00VRyT8111 ,

“The mission of LPO is to accelerate the domestic commercial deployment of innovative and advanced clean energy technologies at a scale sufficient to contribute meaningfully to the achievement of our national clean energy objectives – including job creation; reducing dependency on foreign oil; improving our environmental legacy; and enhancing American competitiveness in the global economy of the 21st century.”

As you can see, Elio Motors is an ideal candidate for these loan programs:

• Elio Motors is a Job Creator – Upwards of 1,500 manufacturing jobs are estimated to be directly employed at the Elio Motors Shreveport manufacturing facility plus an additional 1,500 from the supply base, Elio Motors corporate, sales, and service once full production is underway, plus approximately 18,000 indirect jobs nationwide are projected to be created or sustained.
• Elio Motors Reduces Dependency on Foreign Oil – By year 5 of projected production, total U.S. fuel consumption and emissions can be reduced by over .35%, which will have a significant impact on our demand for foreign oil.
• Elio Motors Improves our Environmental Legacy – Whether you want to reduce dependence on foreign oil or lessen our impact on the environment, they both require less oil. At up to 84 MPG, the Elio represents a fuel mileage more than three times that of the American fleet.
• Elio Motors Enhances American Competitiveness – The Elio was created in Phoenix, designed in Detroit, and will be manufactured in Shreveport, LA. When Elio Motors reaches its target production of 250,000 units per year, it will have a significant impact on the trade deficit, the economy, and the status of the American automotive industry.

As part of the final steps of the evaluation of our application for the ATVM loan, the U.S. DOE requires that Elio Motors demonstrate market acceptance for our project in order to provide a level of certainty about our long-term viability. Although we have received overwhelming market support from our fans, with more than 56,000 total reservations and over 85% of those “non-refundable,” according to the ATVM’s new guidelines published June 2016 http://go.eliomotors.com/e1t/c/*W3p...Vrg7kW8_HMX68MqmxqW3n5Jg14QKPCtTcrKp6l9VXq103, that is not enough to demonstrate market acceptance:

“Where a start-up company that has not generated revenue seeks to commence or progress operations, … in all but the most extraordinary circumstances, market studies and non-binding customer reservations to purchase vehicles will not be sufficient…” [Emphasis added].

We believe we have created an “extraordinary” circumstance in the demand for our vehicle, between our crowdfunding and sales of shares through Regulation A+; however, we will take the necessary additional steps to strengthen our qualifications for this loan program. Because of these requirements, we must ask for binding commitments to purchase from our “non-refundable” reservation holders to further validate our market acceptance. And to obtain these binding commitments, we must lock in a price for the vehicle for “non-refundable” reservations.

Locking in the Price for Non-Refundable Reservation Holders, $7,300*

Based on our current engineering models and materials calculations at this juncture, we will lock in the base price for “non-refundable” reservation holders at $7,300* until we reach 65,000 total reservations (all reservations, both non-refundable and refundable). Given the current expectations, this price supports our vision and provides the most affordable vehicle option on the market.

Added Incentive for Binding Agreements, $7,000*
As an added incentive, and to further demonstrate our market acceptance, Elio Motors will offer a reduced base price of $7,000* for “non-refundable” reservation holders who make a binding commitment to purchase the vehicle, a savings of $300.

Until we reach 65,000 total reservations, “non-refundable” reservation holders will receive the following:

• Locked Price: $7,300* for a base model vehicle for “non-refundable” reservation holders, until we reach 65,000 total reservations. No action required if you currently have a “non-refundable” reservation.
• Special Incentive to obtain Lower $7,000* Locked Price: Until we reach 65,000 total reservations, an added incentive for “non-refundable” reservation holders will be a locked price of $7,000* for a base model vehicle for “non-refundable” reservation holders that make a binding commitment to purchase.
  • Action required: To complete this process, please click here for All In “non- refundable” reservations
• http://go.eliomotors.com/e1t/c/*W3p...3qs7RM7_mlPpW6-jnQ94cfzJsMvHVkn1q_4pf5_SMPx03 .

If you are a “refundable” reservation holder, your reservation remains unchanged. If you would like to convert your reservation to a “non-refundable” reservation and lock in the price, click here
http://go.eliomotors.com/e1t/c/*W3p...Jqz92X0WR7W823Nnp5t-_-bW2sc1tg8wkJkff1CRsDP04

As I have previously shared, the ATVM program is not a breaking point for Elio Motors. However, based on our projected impact on the market and the economy, it is a program that we believe was custom designed for a company like ours. Therefore, our hope is that the implementation of the above steps will satisfy the recently revised ATVM requirements, resulting in Elio Motors being awarded an ATVM loan.

The entire Elio Motors team wants to thank you for your continued faith and support in our project. This is an exciting time in our history and we are grateful to have passionate fans like you along for the ride.

Sincerely,

Paul Elio

 

[CHUCK G.]

What kind of a hack is that you have? How has it been for you? I still want one.

The RED SIDECAR RIG is a 1949 CJ 750cc (CHANG JIANG CUSTOM) The bike and sidecar is painted INFERNO RED. It rides like a mid size Cadillac. If you get a chance to buy or get one, do not blink, get it. You will find a new world in riding a sidecar that will bring a smile on your face.

 

[Rachelalana]

$7300 is the final base price of the car. Before, the $6800 was a goal, but now we have a concrete number you can count on.

If you already have a reservation, then no action is required on your part, this is just the official word on the final price.

HOWEVER, if you have a non-refundable reservation, you can shave $300 off of that price by "commiting to purchase" your Elio. If you already wanted to get an Elio, then you lose NOTHING. If you are thinking about not buying one after-all, then I guess you will lose your non-refundable reservation.

Why this "lock in your commitment" rigamarole? Well, by signing a committment, you show the Department of Energy your concrete interest in the Elio, which in-turn will allow Elio Motors to qualify for the ATVM loan, bringing them one step closer to production!

If you already wanted an Elio, and are OK with the $7300 final base price, then by locking in your commitment you lose nothing, but Elio Motors gains the funds they need to make this dream a reality.

I read this very differently. Our original "all in" money was simply a non-refundable transaction for the right to buy a future product, with this money then acting as a pre-deposit. If one wanted to walk away from the deal, you could, understanding your loss. But this mornings email presents a whole new reality, a Purchase and Sales Agreement. As long as they present to me a finished product, I'm legally obligated to consummate the sale or risk being sued for breach of contract. If I test drive the eventual vehicle and hypothetically think the rides too rough, the fit and finish is sub par, the rear visibility is too restricted, the road noise is too excessive, whatever, I'm out of luck if they want to exercise their legal rights. I won't sign a P&S for a future possible product.

 

[zarquon]

In for a penny, in for a pound!

 

[CHUCK G.]

Not yet but that was my plan when I can't hold up the bike anymore. Thought I would get a Ural with a driven sidecar. Now I will just add the Elio to my Yamaha xt500 (1979), Kawasaki KLR650, Ducati Scrambler (1965), Honda CX500 (1979), Honda PC50K (1974) stable. I am ready to take delivery on my 60th birthday next year.

The Ural with driven sidecar wheel is great if you are planning to do off road riding. Still a good rig to get. BTW, I had a 1977 Yamaha TT500 in my stable that was once owned by CARROL SHELBY. I hope to have the ELIO by my 62nd birthday next April.

 

[Frim]

locked in. $7000....$8297 - 1500 = $6797 to drive it home + taxes and license..

 

[Jeff Porter]

Locked in at a grand and if Paul wanted the balance of the money the check would go out in todays mail.

Big thumbs up!

 

[Frim]

I think I'm locked in... thrice .
Followed the e-mail, filled out the form, checked the boxes, and all I got was a lousy pop-up.
" Thank you for completing the binding agreement. Your price will be locked at $7,000 upon verification of an All In non-refundable reservation."
That is all.

Hello Boo Boo,
You got the quote right. No tee shirt and no sticker. I will email for a confirmation of my contribution to our fiscal health.