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Us Senator Vitter Introduces Autocycle Safety Act - S.685
- Thread starter John Painter
- Start date
Ty
Elio Addict
Wow... Would that eliminate the whole "The Elio is a motorcycle at the Federal level" conversation?
What is in the Act? Will it require emissions testing? Crash testing? What safety standards will have to be met?
This could be either really good or really bad... So, given that, I'll withhold enthusiasm or despair till further information comes out about it.
ecdriver711
Elio Addict
- Joined
- Mar 1, 2014
- Messages
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With Paul Elio behind saying it's good it should be a positive thing.
“Not only will Senator Vitter’s legislation provide consistency across all jurisdictions, but it strongly supports his efforts to bring jobs back to the Shreveport area,” said Elio Motors founder and CEO Paul Elio. “We are thrilled at Senator Vitter’s efforts recognizing the need for a new classification of innovative, ultra-efficient platforms like the Elio Autocycle.”
It appears this was done at EMC's request.
It appears this was done at EMC's request.
This is huge and yes EM is behind this effort. The safety standards is interesting however the really big news to me is changing the CAFE rules which would allow EM to sell credits.
Jake
Elio Enthusiast
Well I think that any movement to get our vehicle on the road is POSITIVE. That said Government is a big reason we
were not driving our Elio's three years ago.
were not driving our Elio's three years ago.
John Painter
Elio Addict
It has not yet been posted, which likely means its not printed and or out of the reviewers office. But we can follow it here, at Open Congress
https://www.opencongress.org/bill/s685-114/show
John Painter
Elio Addict
Of course my mind is running wild with scenarios, such as, is this in advance of news from DOE? Does Vitter want to cash in on something he knows is coming to LA?
Ty
Elio Addict
Those credits are worth about $5,000 per vehicle according to what I read about Tesla's profitability. If that were the case, Elio could almost give away their cars... $5,000 + $1,000 (profit Paul said was built into the price)... Hey, if you add my $1,000 that I put down, they could just give me my Elio without losing a dime!
(Yes, I made the assumption that the same credits that Tesla gets for an EV would equate to the ones that Elio would earn... sue me... blood from a turnip ring a bell?)
Actually they are the same however according to the CAFE standards EV's count x2 so the $5,000 matches up exactly with the $2,500 that EM has said their credits would be worth on the market. These credits can indeed provide EM more profit than selling the vehicles and accessories so this is actually a huge incentive for EM to keep their prices as low as possible so they can sell more vehicles and as a result sell more of those highly profitable credits.
EM has also said that major auto manufacturers would be willing to pre-buy some credits. So if EM could sell credits right now for the 40,000 reserved vehicles at $2,500 each that is $100 million in credit sales which would go a long way towards funding EM's production but also would really help them bring in investors. Actually the investors part is what I see is likely behind the timing of this news. With EM exhibiting at the New York Auto Show in just a few weeks this news will really help them sell their idea to the horde of New York based investors and investment firms as this creates the very real possibility of a large profit potential for this small vehicle start up company. This also gives EM some really good news on the financial front, to go along with the safety and big engine news, which is important for EM to discuss with all the media which will be covering EM at that important event.