What Is The Status Of The Atvm Loan?

[Ty]

Grumble at EM for not supplying the ATVM loan committee a proof of concept and financial statements showing their ability to repay the loan. We have an example of a government agency actually doing their job no reason to grumble.

Ty's post #109 above validates why the loan application has been sitting on the back burner.

Actually, I know it sucks but I hope that's why there hasn't been any motion on the loan. IF Elio had met all the requirements, I can't imagine the process taking multiple years. I'll bet you are right. The ATVM committee will loan Elio the money as soon as Elio can prove the ability to produce and sell at a profit. That's probably what the 100 will show. 100 is a weird number for them to use. There must be a reason and I'll bet somewhere, maybe unofficial, they were told that in order to get the loan, they had to build at least 100 vehicles on an actual production line. I mean, sure 100 sounds like a good number but they are building 23 in Michigan. 23! Not 25 or 24... 23. It seems like they are building the minimum required to meet some kind of requirements somewhere. I don't remember if the SEC filing was that specific on these builds but something is driving the numbers.

 

[Ekh]

Actually, I know it sucks but I hope that's why there hasn't been any motion on the loan. IF Elio had met all the requirements, I can't imagine the process taking multiple years. I'll bet you are right. The ATVM committee will loan Elio the money as soon as Elio can prove the ability to produce and sell at a profit. That's probably what the 100 will show. 100 is a weird number for them to use. There must be a reason and I'll bet somewhere, maybe unofficial, they were told that in order to get the loan, they had to build at least 100 vehicles on an actual production line. I mean, sure 100 sounds like a good number but they are building 23 in Michigan. 23! Not 25 or 24... 23. It seems like they are building the minimum required to meet some kind of requirements somewhere. I don't remember if the SEC filing was that specific on these builds but something is driving the numbers.

I don't think the 100 have much to do with the ATVM Loan guarantee. The book value of current reservations is strong proof of financial viability. I have been told they need to lock in the selling price and prove the 75 mpg or better. If there are other requirements i don't know what they are. The 100 serve as the validation part of "engineering test and validation." They may also provide a chance to get the assembly plant refined.

 

[WilliamH]

Check this out, if you haven't already:
http://energy.gov/sites/prod/files/2014/05/f16/ATVM-Program-Application-Overview.pdf

This one line in the document may explain why Elio is building 100 at Shreveport:
ATVM is a loan program, not a grant program. It provides "expansion capital," not working capital


This could mean that they would expect Elio to be "manufacturing" at their location and require funding in order to "expand" to full-rate production. They'd have to show that they can build the Elios for less than they sell them for as well. Because, this isn't a grant program.

Grumble at EM for not supplying the ATVM loan committee a proof of concept and financial statements showing their ability to repay the loan. We have an example of a government agency actually doing their job no reason to grumble.

Ty's post #109 above validates why the loan application has been sitting on the back burner.

I think the folks commenting on the DOE ATVM UEV program would do everyone a service if they took the time to read all of the program documents rather than relying on a ten page, two year old Power Point overview presentation of the program which doesn't really provide any of the real requirements or even address the UEV portion of the program or the part that addresses getting manufacturing facilities up and running again.
All you are doing is providing cover for a bunch of worthless bureaucrats with this type of posts.

 

[Rickb]

I think the folks commenting on the DOE ATVM UEV program would do everyone a service if they took the time to read all of the program documents rather than relying on a ten page, two year old Power Point overview presentation of the program which doesn't really provide any of the real requirements or even address the UEV portion of the program or the part that addresses getting manufacturing facilities up and running again.
All you are doing is providing cover for a bunch of worthless bureaucrats with this type of posts.

Sad view of our political system. If it wasn't for the fine group of well respected politicians that drafted The DoE Loan Program and voted to support and reinstate the ATVM Program there would be no Elio Motors ATVM Loan application to discuss. EM stated they need to provide a proof of concept to validate statements on the application. The only other requirement I am aware of is showing the ability to repay the loan. I have respect for the politicians that have and continue to jump the roadblocks. Go ATVMElio.

 

[WilliamH]

Sad view of our political system. If it wasn't for the fine group of well respected politicians that drafted The DoE Loan Program and voted to support and reinstate the ATVM Program there would be no Elio Motors ATVM Loan application to discuss. EM stated they need to provide a proof of concept to validate statements on the application. The only other requirement I am aware of is showing the ability to repay the loan. I have respect for the politicians that have and continue to jump the roadblocks. Go ATVMElio.

Without delving into politics, politicians are elected and answerable to the electorate.
Bureaucrats are appointed and don't appear to be answerable to anyone.
If you are going to "quote" Elio Motors, cite URL.
If you are going to cite the law, don't cite a 10 page Power Point presentation, cite the law.

 

[eliio21783]

Without delving into politics, politicians are elected and answerable to the electorate.
Bureaucrats are appointed and don't appear to be answerable to anyone.
If you are going to "quote" Elio Motors, cite URL.
If you are going to cite the law, don't cite a 10 page Power Point presentation, cite the law.

"answerable to the electorate" OH how I wish that were true, the electorate wears blinders and the elected get away with murder and other things. *****no particular party mentioned!

 

[Coss]

"answerable to the electorate" OH how I wish that were true, the electorate wears blinders and the elected get away with murder and other things. *****no particular party mentioned!

And lets keep it that way; carry on....

 

[Marshall]

Sad view of our political system. If it wasn't for the fine group of well respected politicians that drafted The DoE Loan Program and voted to support and reinstate the ATVM Program there would be no Elio Motors ATVM Loan application to discuss. EM stated they need to provide a proof of concept to validate statements on the application. The only other requirement I am aware of is showing the ability to repay the loan. I have respect for the politicians that have and continue to jump the roadblocks. Go ATVMElio.

The sad state of political affairs means that politicians who voted on this probably never even read it, much less produced it. You can thank the lawyers for well healed constituents and campaign donors for the legislation.

 

[Rickb]

The sad state of political affairs means that politicians who voted on this probably never even read it, much less produced it. You can thank the lawyers for well healed constituents and campaign donors for the legislation.

Another sad view.............or does that response include a sense of humor and should not be taken as insulting or dispararaging in any way........... or both? The idea of thanking lawyers and campaign donors for worthwhile legislation that supports alternative energy vehicles with the hope of making sustainable transportation more affordable to the masses and/or high mileage vehicles like the Elio is hilarious.

The ATVM loan approval committee 'bureaucrats' are waiting on the Elio proof of concept E Build testing and validation just as we are.

 

[Marshall]

Another sad view.............or does that response include a sense of humor and should not be taken as insulting or dispararaging in any way........... or both? The idea of thanking lawyers and campaign donors for worthwhile legislation that supports alternative energy vehicles with the hope of making sustainable transportation more affordable to the masses and/or high mileage vehicles like the Elio is hilarious.

The ATVM loan approval committee 'bureaucrats' are waiting on the Elio proof of concept E Build testing and validation just as we are.

Just responding to humor with more humor.