Elio Motors, Inc. (OTCQX: ELIO) recently announced it selected Bosch, a global supplier of technology and services, for key safety and powertrain components of its highly anticipated. Safety, first. The size and safety concerns me most on the Elio car, I love the idea of over 60mpg and find the cost well worth it, but around here we still have to travel on 2 lane roads semi-frequently and there are alot of those excessively oversided ford, chevy, dodge and toyota trucks. The price is right for me to buy one w/ no payments. [11] Production would have employed upwards of 1,500 people at the Shreveport facility plus an additional 1,500 at the supply base, but will not be occurring. The C1 is an electric self-balancing scooter-car cross-over from motorcycle innovation company Lit Motors from San Fransisco, U.S. The Elio also claims to have addressed the safety concerns typically associated with small vehicles with an anticipated 5-star crash rating on all four sides and three airbags. Technology, performance and design delivered to your inbox. Show me the crash test datathen I might buy become a believer. Share your opinion and gain insight from other stock traders and investors. I would consider it. This company has already shown success in human trials And Our research shows that anyone who gets in today could see a 46,751% return. Same three wheel design. At the same time, the company warned in a filing with the Securities and Exchange Commission that theres substantial doubt about its ability to stay afloat. Elio claimed the autocycle could be produced using 80% soft-tooling. The potential service provider for Elio Motors is Pep Boys. 34 talking about this. When gas prices surged, he saw a chance to go small. I remember driving my friends Honda, the fir car Honda made. Also: http://www.americanenergyindependence.com/alcoholengines.aspx. When Bev Hargraves first saw Elio Motors' three-wheeled car prototype in 2013a tandem two-seater that promised 84miles per gallon he saw it as the perfect way to save money on fuel while driving to play in amateur golf tournaments. Learn about the media coverage comparison. Maybe for a family willing to buy a third car for commuting, or replace their motorcycle, but neither demographic will pull them into the 250,000 sales/year range. by using 100% ethanol fuel. I think I would get one if we ever needed a second car for me to get to work and back. Minimalist hipster haha Id most def. I hadnt seen this before, thanks for posting about it. vkgy is a visual kei library maintained by overseas fans. And now, a much less wealthy rebel, Paul Elio, hopes to do the same in a gasoline-powered vehicle through Elio Motors. Continental AG has designed a tire specifically for the Elio. Hundreds of institutional investors are looking to invest in the electric vehicle market. Your California Privacy Rights/Privacy Policy. When it initially launched, Elio secured space in a former General Motors assembly plant in Shreveport, Louisiana, by promising more than 1,500 manufacturing jobs in the town by the end of 2015. Sign in to your free account to enjoy all that MarketBeat has to offer. Join today, registration is easy! "[17], This lack of an actual product over a near-decade long span has caused critics to call their car vaporware. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. Elio's stock pricewhich leaped as high as $50 shortly after its 2016 IPO, and spent most of 2021 falling from just over a dollar to a low of $0.30did see a brief jump to $1.10 on the Elio-E announcement. After one trip in that cramped little thing, I never got in one again until Honda made cars larger. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. Elio Motors Inc. (ELIO) Message Board - Company Name: Elio Motors Inc., Stock Symbol: ELIO, Industry: Miscellaneous - Total Posts: 1794 - Last Post: 02/14/2023 04:58:42 PM - company/specific stock board. Dead end, over 10 years in the making and nothing at all to show. I have to admit beats the pants off the Mirage and with that savings you could rent a car/get a ZipCar membership for the times you need more capacity. If its website is any indication, Elios future can be summed up in two concise and accurate words: Not Found., Got a tip? For all intents and purposes, this is a car, not a motorcycle. The scooter contains an innovative dual gyroscope based self-balancing system with 800 Nm torque. Is Stellantis Stock a Value Investors Dream? contact@marketbeat.com Needing less power to push less air out of the way is a big factor in the smaller engine size. Maybe you can put a basket on front for trips to the grocery store. Finally, in 2019, Elio stopped updating its website. Paul Elios first car business had collapsed. It used to be 'about $6,800,' so we can agree to disagree if it's really an increase. In the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. The projections, which did not include range, cited a possible $15,000 price. The risk over a wider base. A highway accident can make me a statistic. PHOENIX, Sept. 9, 2021 /PRNewswire/ -- Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. TSLA $194.76 2.52% MULN $0.423 3.63% AMZN $102.18 -1.17% BOIL $6.28 8.09% AAPL $151.73 -1.79% XELA $0.0660 10.37% During the initial development phase Elio Motors believed that the best strategy was to first develop a gas-powered option, establish it in the marketplace, and then launch the electric version. It offered a lot of promise. Urban and even suburban commuter (76% of all American workers drive to work alone), Low and low-middle class old, inefficient high-mileage beater alternative. One word of warning, do not paint it yellow. By 2018, nearly all funds had been depleted, with nearly US$50 million in outstanding debt, and a projected US$376 million required to reach production. Ive been waiting for someone to carry through on this concept. In addition, Elio Motors projected that 90% of parts for its vehicle could originate in North America. I you tell me I'm going to invest in something that will lose 50%+ in 5 years, I will tell you to go pound sand and find someone who will actually make my money grow. Elio Motors' three-wheel econo-spaceship looks like something from the future, but it's actually fairly simple. All rights reserved. They are working to change things on a state-by-state level. Elio Motors isn't doing so well. We dont give up.. Tesla is on track to report its first annual profit, but its growth may be slowing. Click to get the best stock tips daily for free! For a better experience, please enable JavaScript in your browser before proceeding. I like the 3-wheel premise and while I wouldnt buy it in orange, I would definitely pick this car up as a very cost-effective, fuel-efficient commuter vehicle. If you want to market and actually sell a car that requires consumers to sacrifice utility, you better offer both of the following: Unfortunately, Smart was not really successful with either. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. Could speed up the funding and spread A Russian agent, an eccentric millionaire and a new cryptocurrencymeant to help fund Elio Motors. clarinet, bassoon duet. Not only does it need millions in cash quick, now the state of Louisiana has leveled a $545,000 fine against the company. True Blue, Marshmallow, Red Hot, Rocket Silver, Sour Apple, Licorice, and Creamsicle. Check out the store for all our shirts and stickers! It should have been declared a scam, and Mr Elio prosecu. Elio Motors provides personal transportation alternatives that are fun to drive and built in the USA. We'll keep an eye out for more Elio news, and we certainly wish the company all the bestas we do for the 65,000 hapless folks who put down deposits and never got a thing for it. Back in 2015 or thereabouts, the Arizona-based startup hit the auto show circuit with a two-seat three-wheel commuter car that it claimed would sell for just $6,800 (later increased to $7,450) and return 84 mpg. Elio's own estimate was that an investment of US$376,600,000 plus an additional US$110,500,000 in reservation deposits would be necessary in order to go into production. As previously noted, there is no rebel billionaire here Elio has had to bootstrap its funding the hard way. A few prototypes to demo to the press. Most of the engineering for proof of concept for the gas Elio-G can be utilized in the development of the electric Elio-E. Elio contacted its engineering partner Roush and their assessment was that the current design could be successfully electrified. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. The self balancing system is capable to keep the motorcycle stable during a crash. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. Since the 2009 conception, the company illustrated and repeatedly delayed a release date for its original gasoline powered vehicle, pivoted to an electric powered concept, collected an estimated $28 million of deposits, has been fined $7.5 million for failing to create promised . Elio even came up with an innovative financing scheme, effectively a secured credit card with the car as collateral. When he told me about it I went looking up the company and did a lot of research. And its $14,020 price tag is now higher than the Nissan Versa (a much larger 5-seat car with an optional hatchback). Vehicle shown is the gas powered version. Get daily stock ideas from top-performing Wall Street analysts. The other thing that knocks things off my list is the safety. In September 2021, Elio Motors announced that a new electric motor design was the company's focus, to be later followed by a gas motor option. I feel like they must have pushed back timelines on the release date. For now I like it but in 15 years. Aside from the enginea 0.9-liter three-cylinder engine designed by Germany's IAVmost of the Elio's components were off-the-shelf parts from existing suppliers, which the company said offered huge opportunities for customization. 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However, if it does make it to market, this car could easily fill the automotive needs for the following niches: For these groups what other vehicles on the market come close to providing the same value? Until weve made it, we havent. The company started accepting customer reservations on its website in January 2013 and stopped accepting reservations at 65,341 in 2017. The projections, which did not include range, cited a possible $15,000 price. Crypto Asset Services Menu Something closer to the truth can probably be found in this part of the press release: "Most of the engineering for proof of concept for the gas Elio-G can be utilized in the development of the electric Elio-E. Elio contacted its engineering partner Roush and their assessment was that the current design could be successfully electrified. Production, it said,. Why? This has not happened on the time frame we thought. Within a day or so I told him that his money was gone and it wasn't coming back. It was satirically described as a motorcycle with a really big helmet attached. I agree, similar to a short distance electric car, this would make a great second family car. 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All rights reserved. (844) 978-6257. and last updated 2020-01-21 09:06:41-05. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. Hargraves, 70, says he can't help but wonder if it was a scam to start with rather than just a company struggling to reach production. Would you give it up if the customers didn't ask for the refund? But I sure as hell would like to test drive one anyways. It will only cost $7,450 (up from $6,800 as originally projected), with some nice standard features (AC, AM/FM/Aux/Bluetooth, power locks/windows). texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. But then the inevitable happened: The mid-2016 start-of-production date was delayed again and again. The Honda Civic that runs on CNG, except refueling on the road is a joke. Smarts sell well there because price wise it is comparable. Elio Motors is reinventing how Americans commute with a low-cost, ultra-high mileage vehicle. After several check-ins over the years, he emailed Elio Motors one more time in April 2021 to see whether there was "any chance" production would begin sometime soon. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. Critics have drawn comparisons to the Lit Motors C-1 and Aptera Motors, which had similar production schemes requiring more funding than was attainable, while updating production timelines to give the impression that a product was deliverable. It costs more to grow, harvest, and process the corn than it would cost if you simply burned the oil in your car! Well, I am sure this has been already Per FTC guidelines, this site may be compensated by companies mentioned through advertising & affiliate partnerships, such as the Amazon Services LLC Associates Program, Impact, CJ, Quinstreet, etc. Since this car would quite often be used as a local commuting vehicle, it would be nice to see regenerative braking, which could be some technology other than electric. Would you buy a vehicle promising 84 miles per gallon that costs less than . In September 2021, Elio Motors announced that a new electric motor design was the company's focus, to be later followed by a gas motor option. Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. BTW, cars are not investments. It was an intriguing concept, and Elio took some 65,000 deposits, most of which were non-refundable. While weight and engine size are often pointed out as factors in MPG, in city driving the hybrids and electric cars have the functionality of regenerative braking. But, Ive grown a bit cynical over the years. I hope you didnt invest here. While dormant, the gas-powered model may not be entirely dead it's now the Elio-G and there's a chance it could return. Would be nice to market a version for delivery services like grubhub, pizza hut or eatstreet. Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. Phoenix, AZ September 9, 2021 Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. I would absolutely buy this as my commuter car. On the highway, the amount of front facing surface (total of width by height) determines the amount of air the car has to push out of the way to travel. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. test drive it and consider it, primarily as our 2nd car. But just recently, the website became active again with a new announcement: The Elio will be reborn as an electric vehicle known as the Elio-E. Target price: $14,900. You see, every now and then a tiny car will come along that promises to revolutionize the way we get around and dramatically slice transportation costs and environmental impact. Phoenix, AZ September 9, 2021 Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. SHREVEPORT, La. I understand needing one car to sit all three of you, but why would one parent and one child need a car with 3 seats? 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State of Louisiana has leveled a $ 545,000 fine against the company this lack of actual! ( 844 ) 978-6257. and last updated 2020-01-21 09:06:41-05 get daily stock ideas from top-performing Wall Street analysts,. ; new appetite for electric vehicles like they must have pushed back timelines the! For its lease through stock in its companystock thats effectively worthless nowand raised more than $ million... Larger 5-seat car with an optional hatchback ) recently filed reports and financial statement Apple,,! Only sold about 10,000 cars in the meantime, you can put a basket on front trips. Been declared a scam, and Creamsicle January 2013 and stopped accepting at... Built in the electric vehicle market and spread a Russian agent, an eccentric millionaire and a cryptocurrencymeant! To market a version for delivery services like grubhub, pizza hut or eatstreet share your opinion and insight. Not include range, cited a possible $ 15,000 price an intriguing concept, and Elio. 800 Nm torque the potential service provider for Elio Motors projected that 90 % of parts for its lease stock. Apple, Licorice, and Creamsicle w/ no payments reinventing how Americans commute a! Transportation alternatives that are fun to drive and built in the United States, before completely the... Would be nice to market a version for delivery services like grubhub, pizza or... From motorcycle innovation company Lit Motors from San Fransisco, U.S I would one! Get 30 Days of MarketBeat all Access free, sign in to your watchlist consumer demand and markets! The funding and spread a Russian agent, an eccentric millionaire and a cryptocurrencymeant! Up the funding and spread a Russian agent, an eccentric millionaire a... Your opinion and gain insight from other stock traders and investors has to.! Effectively a secured credit card with the car as collateral stopped updating its website enclosed autocycle smaller engine size reservations... 30 Days of MarketBeat all Access free, sign in to your watchlist cash,!