Elio Engine Specs Finally Released After Successful Dyno Test!

Jim H · Jan 30, 2015

goofyone said:
The fact is that there have only been four delays and three of the four delays are directly attributable to the delay in acquiring the plant which was completely outside of EM's control.

Brief EM timeline:

January 2013 - Elio Motors began accepting reservations from the public with the intention of building vehicles in the Shreveport plant in June 2014. Elio Motors has purchased plant equipment and is working on a multi-party deal whereby Caddo Parish acquires the plant property and leases it to IRG who in turn subleases a portion to Elio Motors. Deal expected to close at the beginning of September 2013.

August 2013 - After deal is approved by the Caddo Parrish commissioner the lone commissioner who dissents files lawsuit and injunction against the plant deal thus everything grinds to a hault as this issue is dealt with. EM announces this will cause a delay in production as their funding arrangements are contingent on securing the plant. EM hopes to begin production in the fourth quarter of 2014 as long as plant closing is not delayed too long.

November 2013 - EM announces further production delay to first or second quarter of 2015 as the plant deal has yet to close due to the lawsuit.

May 2014 - EM finally takes control of the plant site after lawsuit is resolved and state intervention in the deal causes a further delay. Production is delayed to third quarter of 2015. Paul Elio discusses that funding is running low and EM is waiting for $7.5 million investment from IRG which was supposed to follow plant closing before they can do anything. PE states in interview that after the funding from IRG arrives, no date on this given however he mentions it take a little bit of time, EM must begin all over again on funding as the delay in securing the plant has completely disrupted the funding deals which had been in place.

January 2015 - EM announces delay of production to the first half of 2016 with the stated stated reason being funding. Further information given via interviews and statements before Caddo Parrish commission is that the funding EM expected to have at this point to complete the vehicle development program has not yet been secured. EM is working on several funding options simultaneously both for funding the vehicle development and for the further round of funding which will be needed to prepare the Shreveport plant for production.

And I've been fortunate enough to experience 3 of them......

Catia · Jan 30, 2015

goofyone said:
The fact is that there have only been four delays and three of the four delays are directly attributable to the delay in acquiring the plant which was completely outside of EM's control.

Brief EM timeline:

January 2013 - Elio Motors began accepting reservations from the public with the intention of building vehicles in the Shreveport plant in June 2014. Elio Motors has purchased plant equipment and is working on a multi-party deal whereby Caddo Parish acquires the plant property and leases it to IRG who in turn subleases a portion to Elio Motors. Deal expected to close at the beginning of September 2013.

August 2013 - After deal is approved by the Caddo Parrish commissioner the lone commissioner who dissents files lawsuit and injunction against the plant deal thus everything grinds to a hault as this issue is dealt with. EM announces this will cause a delay in production as their funding arrangements are contingent on securing the plant. EM hopes to begin production in the fourth quarter of 2014 as long as plant closing is not delayed too long.

November 2013 - EM announces further production delay to first or second quarter of 2015 as the plant deal has yet to close due to the lawsuit.

May 2014 - EM finally takes control of the plant site after lawsuit is resolved and state intervention in the deal causes a further delay. Production is delayed to third quarter of 2015. Paul Elio discusses that funding is running low and EM is waiting for $7.5 million investment from IRG which was supposed to follow plant closing before they can do anything. PE states in interview that after the funding from IRG arrives, no date on this given however he mentions it take a little bit of time, EM must begin all over again on funding as the delay in securing the plant has completely disrupted the funding deals which had been in place.

January 2015 - EM announces delay of production to the first half of 2016 with the stated stated reason being funding. Further information given via interviews and statements before Caddo Parrish commission is that the funding EM expected to have at this point to complete the vehicle development program has not yet been secured. EM is working on several funding options simultaneously both for funding the vehicle development and for the further round of funding which will be needed to prepare the Shreveport plant for production.

Kegger · Jan 30, 2015

Ty said:
That's what they tell me. I've never been a patient waiter...

Must be awful when you have those people that just stare at the menu and keep changing their orders!

Just kidding, I know what you really meant.

DanS · Jan 30, 2015

Ty said:
You'd LIKE to know what's going on but the truth is you have no more right to know about Elio now than I do about Paramount Pictures just because I pre-ordered a movie.

Wish I could "like" this 1000 times

Ty · Jan 30, 2015

Since last January, they were delayed because the Caddo wouldn't let them rent the plant. They explained that delay. Then,

Kegger said:
Must be awful when you have those people that just stare at the menu and keep changing their orders!

Just kidding, I know what you really meant.

Yeah. "No soup for you!"

grampi · Jan 31, 2015

goofyone said:
The fact is that there have only been four delays and three of the four delays are directly attributable to the delay in acquiring the plant which was completely outside of EM's control.

Brief EM timeline:

January 2013 - Elio Motors began accepting reservations from the public with the intention of building vehicles in the Shreveport plant in June 2014. Elio Motors has purchased plant equipment and is working on a multi-party deal whereby Caddo Parish acquires the plant property and leases it to IRG who in turn subleases a portion to Elio Motors. Deal expected to close at the beginning of September 2013.

August 2013 - After deal is approved by the Caddo Parrish commissioner the lone commissioner who dissents files lawsuit and injunction against the plant deal thus everything grinds to a hault as this issue is dealt with. EM announces this will cause a delay in production as their funding arrangements are contingent on securing the plant. EM hopes to begin production in the fourth quarter of 2014 as long as plant closing is not delayed too long.

November 2013 - EM announces further production delay to first or second quarter of 2015 as the plant deal has yet to close due to the lawsuit.

May 2014 - EM finally takes control of the plant site after lawsuit is resolved and state intervention in the deal causes a further delay. Production is delayed to third quarter of 2015. Paul Elio discusses that funding is running low and EM is waiting for $7.5 million investment from IRG which was supposed to follow plant closing before they can do anything. PE states in interview that after the funding from IRG arrives, no date on this given however he mentions it take a little bit of time, EM must begin all over again on funding as the delay in securing the plant has completely disrupted the funding deals which had been in place.

January 2015 - EM announces delay of production to the first half of 2016 with the stated stated reason being funding. Further information given via interviews and statements before Caddo Parrish commission is that the funding EM expected to have at this point to complete the vehicle development program has not yet been secured. EM is working on several funding options simultaneously both for funding the vehicle development and for the further round of funding which will be needed to prepare the Shreveport plant for production.

Thanks for the info! Do you know why they're having such a hard time securing funds?

grampi · Jan 31, 2015

There also seems to be a rather large block of time that's always built into these delays that seems to be about 1.5 years in length. For example, the latest delay being announced this month pushes the production start date back to mid 2016. If they secured the necessary funds today, would it actually take them a year and a half to start production? One would think that by now, they would have everything, or mostly everything else worked out and done to the point of just waiting for the funding...I realize it will take some time once funding is obtained, but a year and a half? Maybe I just don't understand how much needs to be done, that can only be done AFTER funding is acquired...

Catia · Jan 31, 2015

[Broken External Image]

grampi said:
There also seems to be a rather large block of time that's always built into these delays that seems to be about 1.5 years in length. For example, the latest delay being announced this month pushes the production start date back to mid 2016. If they secured the necessary funds today, would it actually take them a year and a half to start production? One would think that by now, they would have everything, or mostly everything else worked out and done to the point of just waiting for the funding...I realize it will take some time once funding is obtained, but a year and a half? Maybe I just don't understand how much needs to be done, that can only be done AFTER funding is acquired...

-$185 million loan from the Department of Energy – waiting on ATVM loan to be processing, and EM pass phrase one and have two more phrase to go before secure the loan. See the link: http://energy.gov/lpo/projects#buttn

-sale of surplus equipment from the Shreveport facility – waiting on all the sale of surplus equipment to be sold. See the link:
http://stores.ebay.com/automationrecovery1/_i.html?rt=nc&_pgn=1&_ipg=48

As soon as one of these options comes through, Elio Motors will be able to communicate a more specific date for the vehicle launch, which is targeted for the first half of 2016.

These take some time to go through the processing and took longer then we thought.

grampi · Jan 31, 2015

Catia said:
[Broken External Image]

-$185 million loan from the Department of Energy – waiting on ATVM loan to be processing, and EM pass phrase one and have two more phrase to go before secure the loan. See the link: http://energy.gov/lpo/projects#buttn

-sale of surplus equipment from the Shreveport facility – waiting on all the sale of surplus equipment to be sold. See the link:
http://stores.ebay.com/automationrecovery1/_i.html?rt=nc&_pgn=1&_ipg=48

As soon as one of these options comes through, Elio Motors will be able to communicate a more specific date for the vehicle launch, which is targeted for the first half of 2016.

These take some time to go through the processing and took longer then we thought.

I didn't see EM listed at all in that first link...

goofyone · Jan 31, 2015

grampi said:
Thanks for the info! Do you know why they're having such a hard time securing funds?

It is not necessarily that EM is having a hard time but instead it simply takes a long time to jump through all the government hoops necessary to raise money and if something happens that resets them to square one it takes a while to get back to where they were. As I mentioned we know that EM actually had funding deals in place via a previous private placement however all that work fell apart when EM encountered the extended delay in securing the Shreveport plant even though that was completely beyond EM's control. From what we can gather, thanks to government time requirements and such, EM could not have began work on the current private placement/private stock offering, which just became available to investors this month, any later than about the beginning of September and it could have easily been months earlier in the year. It is very likely they began working on this as soon as they were able to do it after securing the plant in May as well as securing the funding needed to begin the process as this is not inexpensive.

grampi said:
There also seems to be a rather large block of time that's always built into these delays that seems to be about 1.5 years in length. For example, the latest delay being announced this month pushes the production start date back to mid 2016. If they secured the necessary funds today, would it actually take them a year and a half to start production? One would think that by now, they would have everything, or mostly everything else worked out and done to the point of just waiting for the funding...I realize it will take some time once funding is obtained, but a year and a half? Maybe I just don't understand how much needs to be done, that can only be done AFTER funding is acquired...

The simple answer is that I believe each time EM has to announce a delay they end up padding the time estimate a little more hoping that by putting in some extra time it will cover any additional unforeseen delays. This time however the time given actually reflects an outside deadline and not necessarily an internal target. EM has until the middle of 2016 to show substantial movement towards hiring for production or else they could very well lose the lease on the plant so this is external.

From what I have heard and learned over time I would agree with you that it should not take nearly that long and could even take half that time of less. I believe that if EM would be awarded the ATVM loan this quarter and pushed things along they could very well still enter production this year. Of course now that they have the plant extension and have told us about the delay I would not expect them to really push as hard and instead take more time to test both the plant and the vehicle before entering production. While this would be annoying for some people it would likely be the wise way to handle things.

Elio Engine Specs Finally Released After Successful Dyno Test!

Jim H

Elio Addict

Catia

Elio Addict

Kegger

Elio Aficionado

DanS

Elio Addict

Ty

Elio Addict

grampi

Elio Addict

grampi

Elio Addict

Catia

Elio Addict

grampi

Elio Addict

goofyone

Moderator

Shirts & Stickers