Send Email To Dop To Show Support For Elio Motors Loan.

[Jay3wheel]

Way too soon to have that conversation. I would rather see people acquire jobs, then worry about protecting them before they even have them, having spent years on both sides of that fence.

I'm not talking about the jobs at the plant. I'm talking about the those who lobby for the union (paid) working in opposition to the loan, behind the scenes.

The unions are certainly opposed to an upstart non-union company selling cars in competition to their union made gas hogs. Never underestimate the greed of these organizations.

 

[Chris F]

I'm pretty sure this is the one they applied for.
I'm also pretty sure it does indeed carry this stricture.
Take a good look at the pdf.
Especially "Financial Viability" and "Eligible Project".

I think you're still misreading the quote.
It means the feds require that EM will be financially viable to commercially produce this vehicle and meet the loan's terms if EM gets the loan.
It doesn't mean that the feds require EM to be completely financially viable to commercially produce this vehicle on their own without the loan.
The feds also need EM to able to accomplish this with the ATVM loan being the only federal funding given (or loaned) to EM.
Hence the "...other than the ATVMLP loan." part of the quote.
That's the confusion I'm trying to clear up.

The pdf seems to indicate that the program is intended for start-ups as well as "the big guys".

DOE needs some assurances that if they provide the loan, the company can produce the product.

 

[Norahsbed]

DOE needs some assurances that if they provide the loan, the company can produce the product.

How about 36,000+ And counting, reservations! I Don't think Tesla had that many when they got their loan!

 

[Rickb]

How about 36,000+ And counting, reservations! I Don't think Tesla had that many when they got their loan!

Tesla was successfully producing the Roadster and was looking to get building the Model S. They could have built it without the loan but would have taken much longer to get to production. Different but, the Elio reservations do show the demand to justify the loan along with EM's solid financial statements.

Tesla Motors had reservations, but you don't need as many reservations when your selling a $80-100K vehicle

 

[Smitty901]

Back door action by the UAW could put a stop to the loan without much effort.

 

[Jay3wheel]

Back door action by the UAW could put a stop to the loan without much effort.

I think they are the biggest threat!

 

[Dustoff]

I think they are the biggest threat!

They may be amongst us now.

 

[Ty]

I think they are the biggest threat!

I think they are all in Detroit trying to figure out what went wrong...

 

[RUCRAYZE]

whenever you/company apply for a loan what you are really doing is proving you don't need the money!
for example Individual car loans are not provided reasonably if you have crap credit, no job, no prospects the risk has to be offset and protected.
Elio has to demonstrate he can move forward without it- he currently has no product, and poor credit- a close look at the 35k reservations breaks down very quickly, when only about 25% have put all in. A "Bunch" of the 35k include less money and in many cases no money (refundable) so although 35k looks good to us, when "they" take a close look, which they will ,it'll fall apart quickly.
whatever happens it's my opinion that any further delays will severely jeopardize this project

 

[Elio Amazed]

whenever you/company apply for a loan what you are really doing is proving you don't need the money!
for example Individual car loans are not provided reasonably if you have crap credit, no job, no prospects the risk has to be offset and protected.
Elio has to demonstrate he can move forward without it- he currently has no product, and poor credit- a close look at the 35k reservations breaks down very quickly, when only about 25% have put all in. A "Bunch" of the 35k include less money and in many cases no money (refundable) so although 35k looks good to us, when "they" take a close look, which they will ,it'll fall apart quickly.
whatever happens it's my opinion that any further delays will severely jeopardize this project

Nope.
Not in this case.
The ATVM loan is a totally different animal.
I respectfully and completely disagree.
This pdf from the DOE also clearly disagrees.

Again, this is exactly the widespread misconception that I'm trying to clear up.

DOE needs some assurances that if they provide the loan, the company can produce the product.

Yup. That subject is addressed in the pdf.

Please guys and gals, read the pdf.

http://energy.gov/sites/prod/files/2014/03/f14/applicantguidance.pdf