RSchneider
Elio Addict
I didn't misinterpret. I said, "full funding" which s the same as "completion of funding". Two ways of saying the same thing.
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What Is The Latest Start Production Date?
- Thread starter grampi
- Start date
- Status
Travelbuzz1
Elio Addict
I received this today.
The Elio Customer Experience Team (Elio Motors)
Dec 12, 15:47 EST
Hello,
The production date is estimated to be 76 weeks from the timely and successful completion of our current and subsequent fundraising efforts. The timing and availability of the funds can move and we will do everything we can to keep the project moving forward by utilizing each piece of funding received, as we receive it. Thank you for your support.
Make sure to check out our blog at www.eliomotors.com/blog
Thank you,
The Elio Team
The Elio Customer Experience Team (Elio Motors)
Dec 12, 15:47 EST
Hello,
The production date is estimated to be 76 weeks from the timely and successful completion of our current and subsequent fundraising efforts. The timing and availability of the funds can move and we will do everything we can to keep the project moving forward by utilizing each piece of funding received, as we receive it. Thank you for your support.
Make sure to check out our blog at www.eliomotors.com/blog
Thank you,
The Elio Team
wizard of ahs
Elio Addict
Same as it's been .................NEXT YEAR
Sega
Elio Addict
To clear it up: 1.5 years AFTER they get all the funding they need.
They are nowhere near getting the funding they need so there is still a long way to go. They have been working on funding for several years already and haven't gotten anywhere.
They are nowhere near getting the funding they need so there is still a long way to go. They have been working on funding for several years already and haven't gotten anywhere.
RSchneider
Elio Addict
If Elio gets a $376M check tomorrow then the first Elio will roll of the line on May 28, 2020.
raptor213
Elio Addict
Isn't this word-for-word verbatim from an earlier response posted to the Elio Motors Owners Assn FB group page last month? They are just regurgitating and hitting copy/paste on these now:
You need to ask them where they're at in the funding phase, and when they predict the 76 weeks will start, or if the 76 weeks has started, if so, when did it start? Kinda put in a "feeler" to see where the start line is.
Sega
Elio Addict
They said the 76 weeks starts once they get the funding...which they don't have. I don't think they have any idea when that will be.
RSchneider
Elio Addict
I can tell you that Elio will not tell you anything else. So the one statement is all you are going to get. Someone told Elio to just answer all correspondence with that one paragraph. With that being said, Elio does one thing very well. It's when they have any progress (no matter how small) they report on it right away. The best current example of this is when Elio got the $2.5M, they came out with a blog showing the supplier summit and right after that, Paul showed up in person in Shreveport. After that it was an announcement on a handshake deal with a mysterious powertrain supplier and the initial offering for the Eliocoin for accredited investors.
Knowing how large scale projects work, you need a hefty amount of cash on hand to start moving. A small amount usually gets you nowhere as there are lots of items that need to either be paid in full from the beginning or a big deposit. With new companies, you need to do much more paying up front.
From looking at the Elio timeline, 72 weeks is the longest item which is ECO Body Shop. So, there's no way they can shorten that. What is hitched before that, is 4 more weeks of Engineering Design and Development. The ECO Powertrain timeline is 52 weeks and runs parallel to the 72 weeks, so no timeline savings with it planned to be eliminated. What they will need is that after 4 weeks of the RD&D, they will need to fund the ECO Body Shop, ECO Paint, ECO General Assembly all at the same time. With them not planning to build their own engine, the tooling and production equipment costs will drop (supposedly $120M).
In the end, it's still 76 weeks but the only change is instead of being $376M, it would be $256M. Still, they need a huge chunk of that to get moving and a steady stream of cash. They are expecting $110M in extra reservation deposits and $44M in profit. The $44M in profit would have to come after they start fulfilling the 65K reservations because I can't see how that would happen ahead of the game. The actual number for what they really need is $531M but subtract $120M and you get $411M. They are hoping on lots of new reservations (110,000 of them at $1K) and making $677 profit for each unit on the first 65K. According to what Paul said, Elios will sell for an approximate average of $10,700 each for the first 65K.
Knowing how large scale projects work, you need a hefty amount of cash on hand to start moving. A small amount usually gets you nowhere as there are lots of items that need to either be paid in full from the beginning or a big deposit. With new companies, you need to do much more paying up front.
From looking at the Elio timeline, 72 weeks is the longest item which is ECO Body Shop. So, there's no way they can shorten that. What is hitched before that, is 4 more weeks of Engineering Design and Development. The ECO Powertrain timeline is 52 weeks and runs parallel to the 72 weeks, so no timeline savings with it planned to be eliminated. What they will need is that after 4 weeks of the RD&D, they will need to fund the ECO Body Shop, ECO Paint, ECO General Assembly all at the same time. With them not planning to build their own engine, the tooling and production equipment costs will drop (supposedly $120M).
In the end, it's still 76 weeks but the only change is instead of being $376M, it would be $256M. Still, they need a huge chunk of that to get moving and a steady stream of cash. They are expecting $110M in extra reservation deposits and $44M in profit. The $44M in profit would have to come after they start fulfilling the 65K reservations because I can't see how that would happen ahead of the game. The actual number for what they really need is $531M but subtract $120M and you get $411M. They are hoping on lots of new reservations (110,000 of them at $1K) and making $677 profit for each unit on the first 65K. According to what Paul said, Elios will sell for an approximate average of $10,700 each for the first 65K.
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