Why No Law Suit...............

[RSchneider]

Sadly seems the Elio-G link no longer works. That's the one I want and even have a locked in price on it. Hopefully he still intends to produce it too. Quite a few of the other links don't work as before.

I found this press release form Elio motors and it states

Once the electric version is produced, Elio plans to potentially launch the Elio-G for consumers looking for a gas powered alternative.

So, there will be a slight setback. Looks like the Elio Plant had a fire. With EV's burning up all of the time, maybe this was an Elio-E fire. I suspect Paul will just go back and make the Elio-G first. It makes sense as he sold 65K of them and that's what people want.

Thing is, the locked in price, Paul will have to honor. So let's say you put down $1K non refundable, got a $500 discount, did a commit to buy at $7K, so when he makes your Elio, you'll just only need to write a check for $5500. Adjusting for inflation, that would be $7K. So, you will be getting the best deal ever as that Iron Clad contract, he will have to honor. The longer you wait, the better the deal.

 

[Mel]

Yep! Still holding my breath. Why wouldn't I expect an Elio for my "locked-in" price. After all, He's never lead us astray yet. Oh, Wait...........

 

[RSchneider]

Yep! Still holding my breath. Why wouldn't I expect an Elio for my "locked-in" price. After all, He's never lead us astray yet. Oh, Wait...........

You should. Then he should just pay back that non-refundable then. Maybe it's just, keep my money and charge whatever you want. That contract is just fluid and works however Paul wants it to.

 

[Sonoran Sam]

I wonder if Paul had any equipment, etc. in the Shreveport plant?? If so, was it insured??

The insurance proceeds could be enough for him to start building the Elio, right??

 

[RSchneider]

I wonder if Paul had any equipment, etc. in the Shreveport plant?? If so, was it insured??

The insurance proceeds could be enough for him to start building the Elio, right??

First off, he took out a $26M loan for the equipment. Second, he still owed $3.9M on that equipment. So, the bank gets paid off first then Elio. Issue is, to start building the Elio, he needs equipment and if it burned up, he needs to buy replacements. Once he does that, then he needs to build the other 23 e-series and test them. After that he can start building the Elio. It's pretty simple. Let's not forget he needs to put money down on those Fortune 500 engines, Aisin transmissions and all of the other suppliers that will make parts for the Elio. I bet suppliers are on a cash first basis with Elio since the company is over $230M in debt. I'm guessing those people in debt will want some of their money when Paul cashes that insurance check.

If I was him, I would have insured all of the equipment for $500M. Then, the Elio would be in production by the end of 2025.

 

[Bilbo B]

The article on the fire states "Firefighters discovered a large cooling tower at the plant in flames." and the picture clearly shows smoke billowing out of a cooling tower. Most cooling towers I've seen are detached from any other buildings. Based on the limited info we have, I seriously doubt the actual plant suffered any direct damage.

 

[W. WIllie]

Reality? Check here:

MSN

 

[RSchneider]

Reality? Check here:

MSN

At least the Elio Operations in Phoenix are safe. So now we just wait for the next press release.

 

[Rickb]

“Open Now!” Looks like Paul is in the office today. maybe give him a call.

 

[RSchneider]

“Open Now!” Looks like Paul is in the office today. maybe give him a call.
View attachment 26916

Nobody will call Paul or even visit him at his dealership. Everyone has accepted that it's over. He did what I knew he would do. Just wait everyone out and start another business. Thanks to the non refundables and current stockholders, he was able to make that business plan work. With the website up and not really functioning, he's kept a few staunch supporters happy. As for the rest, they moved on. I do like Paul as the IPO made me a pretty good chunk of change. He did help out the little guy.