Paul Elio Responds To Critics, Ttac, 10-20-2014

[Kuda]

Time will tell, mr jeff.
And I am sure due to the programers work and cad software, they stand a much better chance at getting it right the first time.

Just hope "experts" talked to "fisherman"
:-D

Measure twice, cut once................

 

[BlioKart]

I'm just happy that by November 15, an engine should be on the dyno and be getting a good thrashing

 

[tonyspumoni]

Bilgerat. Terrific find! You made my day. Lots of detail extracted from Paul, particularly on the financing end of things. The fact that EM will go back to the original investors for a series B is great news. Since getting series B from the original investors is akin to doubling down on their bet they must like what is happening. This is exactly the news I was waiting to hear.

 

[Snick]

Tavarish's Jalopnik article basically refuted point by point.

http://www.thetruthaboutcars.com/2014/10/paul-elio-responds-skeptics/#more-932193

He didn't really need to. The Tavarish "article" was a disgraceful piece of drivel and waste of valuable electrons, full of distortions, ASSumptions, and general "hate-boy" tone.

 

[Snick]

I think most people are surprised by how much that equipment is worth especially when you hear that these are net numbers after they pay off their loan and Comau gets paid for their part of the work. To me this equipment sale does two important things, the first is clearing the large debt burden they had been carrying from purchasing the equipment and the second is securing any additional needed funding which they may need to complete the engine and vehicle development process which EM needs to accomplish ahead of production.

In my opinion, even a multi-phased sale of the equipment should be considered a major project milestone upon completion of the first phase (i.e. cash in bank).

 

[BilgeRat]

Snick, it certainly changed my opinion of Jalopnik, and not for the better, either... o_O

And Tony, we got at least a rough timeline from Paul as well, and that was great to see. I figured things were progressing with the engine (and everything else), but it's great to hear that the machining is done and it's been assembled.

 

[CaribbeanZombie]

I'm a little curious that Paul didn't mention the ATVM loan, along with others, based on what we already know.
This article was an excellent read overall with great up-to-date information!
Now I have 2 reasons to look forward to Nov15th (opening day of gun season here in MI) & I'm really hoping they release the video of the trial run of the Elio engine, but I'll be happy to hear that's it's functioning as expected, so the pre-production engines can get up & running & we'll start seeing some activity at the plant in Shreveport...let's get those prototypes on the road!!!

 

[tonyspumoni]

I'm a little curious that Paul didn't mention the ATVM loan, along with others, based on what we already know.

I'm curious too, CZ, but in this case I wouldn't read too much into Paul's failure to comment on the ATVM loan. Elio will only hear from DOE if DOE needs clarification or renders a decision and Paul, as CEO, has a history of only speaking to facts and avoiding speculation. He probably knows no more about the loan than we do.

 

[NSTG8R]

Bilgerat. Terrific find! You made my day. Lots of detail extracted from Paul, particularly on the financing end of things. The fact that EM will go back to the original investors for a series B is great news. Since getting series B from the original investors is akin to doubling down on their bet they must like what is happening. This is exactly the news I was waiting to hear.

Just a matter of interpretation, but....

"...Current investors, whom Elio says are very happy with how things are going, will also be asked to pony up additional capital."

I kind of consider myself (and all "all-in" people) as a "Current investor". If asked to "pony up additional capital" to guarantee there's a shiny new Elio sitting in my driveway this time next year, I'd happily "pay in full" right now.

 

[eddie66]

Just a matter of interpretation, but....

"...Current investors, whom Elio says are very happy with how things are going, will also be asked to pony up additional capital."

I kind of consider myself (and all "all-in" people) as a "Current investor". If asked to "pony up additional capital" to guarantee there's a shiny new Elio sitting in my driveway this time next year, I'd happily "pay in full" right now.

I don't think we would be considered investors by Elio Motors. We're customers. The only investment we have made, is for a place in line. We don't even have a contract to buy a car yet.