Disturbing

[Jim Planck]

This disturbing item in USA TODAY.

Suspicious news.

From USA TODAY Ex-GM plant idle awaiting radical 3-wheel car SHREVEPORT, La. -- Shreveport's former General Motors Assembly Plant could soon be spinning textiles even if it never boots up its vehicle assembly lines to make an unusual three-wheeled car. A company called the Gulf Coast Spinning Company will relocate to the shuttered factory even though a startup automaker, Elio Motors, has been taken space in the same facility. Elio Motors rents approximately 1.5 million square feet of the former GM assembly plant from industrial developer Stuart Lichter which holds the lease to the 4.1 million square foot building. Elio Motors did not respond to multiple requests for interviews. Licter, president and board chairman the Industrial Realty Group, also sits on Elio's board. He also did not respond to an interview request. Onno Steger, IRG's real estate director, said he could not speak about Elio or Gulf Coast Spinning Company. http://usat.ly/1MwkiaW Get USA TODAY on your mobile device: http://www.usatoday.com/mobile-apps Jim and Marybeth Planck

 

[WilliamH]

This disturbing item in USA TODAY.

Suspicious news.

From USA TODAY Ex-GM plant idle awaiting radical 3-wheel car SHREVEPORT, La. -- Shreveport's former General Motors Assembly Plant could soon be spinning textiles even if it never boots up its vehicle assembly lines to make an unusual three-wheeled car. A company called the Gulf Coast Spinning Company will relocate to the shuttered factory even though a startup automaker, Elio Motors, has been taken space in the same facility. Elio Motors rents approximately 1.5 million square feet of the former GM assembly plant from industrial developer Stuart Lichter which holds the lease to the 4.1 million square foot building. Elio Motors did not respond to multiple requests for interviews. Licter, president and board chairman the Industrial Realty Group, also sits on Elio's board. He also did not respond to an interview request. Onno Steger, IRG's real estate director, said he could not speak about Elio or Gulf Coast Spinning Company. http://usat.ly/1MwkiaW Get USA TODAY on your mobile device: http://www.usatoday.com/mobile-apps Jim and Marybeth Planck

Jim, We've seen this piece of garbage show up in a bunch of places. It was written by some twit from the Shreveport Times (a Gannett News paper) picked up by the Detroit Free Press (a Gannett News paper) and now regurgitated by USA Today (Gannett News flagship paper)..
Time to pay attention to sources.

 

[Neal]

Not disturbing at all, just very poor research by the reporter. The plant has about 4 million square feet. Elio only leases1.5 million of that. It has always been the intention to lease the rest of the plant to other companies. This is really a non story.

 

[JNR]

I know we keep getting new people here, which is a good thing. And only because this is all Deja Vu all over again for me and others, I'll take a second to give bit of warning or my opinion to anyone that hasn't noticed the trend yet. Almost all news articles on the Elio are actually not "news" but just rehashes of existing information usually with some erroneous reporting or writer's opinion thrown in. Almost all real news is directly given by Elio very infrequently and of course we all wait anxiously for the next morsel of news because each round of news never really includes what we want to hear. It's the inbetween parts where many "reporters" like to read between the lines and offer up opinion under the guise of news.

We all have the same information, but some see the glass as 1% full or 99% full, with many somewhere in-between.

 

[charchri4]

True that when you are new to Elio and the forum it is a huge roller coaster ride!

 

[Jeff Porter]

This disturbing item in USA TODAY.

Suspicious news.

From USA TODAY Ex-GM plant idle awaiting radical 3-wheel car SHREVEPORT, La. -- Shreveport's former General Motors Assembly Plant could soon be spinning textiles even if it never boots up its vehicle assembly lines to make an unusual three-wheeled car. A company called the Gulf Coast Spinning Company will relocate to the shuttered factory even though a startup automaker, Elio Motors, has been taken space in the same facility. Elio Motors rents approximately 1.5 million square feet of the former GM assembly plant from industrial developer Stuart Lichter which holds the lease to the 4.1 million square foot building. Elio Motors did not respond to multiple requests for interviews. Licter, president and board chairman the Industrial Realty Group, also sits on Elio's board. He also did not respond to an interview request. Onno Steger, IRG's real estate director, said he could not speak about Elio or Gulf Coast Spinning Company. http://usat.ly/1MwkiaW Get USA TODAY on your mobile device: http://www.usatoday.com/mobile-apps Jim and Marybeth Planck

Hi Jim, welcome to the forum!

 

[Smitty901]

We have a dream ,a couple of prototypes and 1 engine, with some interesting goals. We think there is a plant to build them. We know there is not even enough funding to try and start production. We know it will have a funky dash and the gas cap maybe on the wrong side for some and it will not come in yellow. Not much more. But we have a dream and are not giving up yet.

 

[Ekh]

We have a dream ,a couple of prototypes and 1 engine, with some interesting goals. We think there is a plant to build them. We know there is not even enough funding to try and start production. We know it will have a funky dash and the gas cap maybe on the wrong side for some and it will not come in yellow. Not much more. But we have a dream and are not giving up yet.

Smitty, we know a heck of a lot more than that. We know that they have an engine that works. They have a strong network of supplier partners. They are currently $500 over cost and 3 mpg short on mileage, at 81 out of 84.

We also know that the funding to build the P5 and some number of additional prototypes is in hand. We know that 48 out of 50 states allow adults to drive the car without wearing helmets, and the other two are willing to pass the needed legislation but got jammed at the end of the last legislative session.

We know that 46,000 people have put down money for their Elios. We know that 5,952 people (as of this writing) say they are willing to invest a total of nearly $23 million in this venture, risky as it is.

We know that Paul Elio is a man of principle, determination, and plain gumption -- essential for all entrepreneurs. We know that he is supported by an able team of legal, marketing, and manufacturing gurus.

So you might be just a little more even-handed in your assessments. Is there risk the car will never be built? You bet. Substantial risk. But there is also a pretty good chance that it will work out. Elio has shown himself damn smart in finding ways around the many, many obstacles in his path. I'd say you should pour a little water into your half-empty glass. If you want to bitch so much, do it in front of your mirror, not your keyboard. thanks.

 

[Smitty901]

Smitty, we know a heck of a lot more than that. We know that they have an engine that works. They have a strong network of supplier partners. They are currently $500 over cost and 3 mpg short on mileage, at 81 out of 84.

We also know that the funding to build the P5 and some number of additional prototypes is in hand. We know that 48 out of 50 states allow adults to drive the car without wearing helmets, and the other two are willing to pass the needed legislation but got jammed at the end of the last legislative session.

We know that 46,000 people have put down money for their Elios. We know that 5,952 people (as of this writing) say they are willing to invest a total of nearly $23 million in this venture, risky as it is.

We know that Paul Elio is a man of principle, determination, and plain gumption -- essential for all entrepreneurs. We know that he is supported by an able team of legal, marketing, and manufacturing gurus.

So you might be just a little more even-handed in your assessments. Is there risk the car will never be built? You bet. Substantial risk. But there is also a pretty good chance that it will work out. Elio has shown himself damn smart in finding ways around the many, many obstacles in his path. I'd say you should pour a little water into your half-empty glass. If you want to bitch so much, do it in front of your mirror, not your keyboard. thanks.

Not really, strong network of suppliers is meaningless. Heck anyone will supply you if you pay the bill. Nothing to supply yet.
Not one bit of the rest of it has put ELIO any closer to production than it was last year. Just facts not beating up on ELIO.
ELIO does not need 23 million they need about 300 million, likely a lot more.
Remember this time last year they were assuring us we would be getting close to production by now.
As for what I do on the key board that is not your concern. As I can see you have no skin in the game I do so show your support and step up.
I have been all in for ELIO for some time. I just see the real world not only the dream.
Future owner of ELIO number 8019 if they build it. Balance due is sitting there waiting for the delivery notice an invoice.

 

[John Painter]

Not really, strong network of suppliers is meaningless. Heck anyone will supply you if you pay the bill. Nothing to supply yet.
Not one bit of the rest of it has put ELIO any closer to production than it was last year. Just facts not beating up on ELIO.
ELIO does not need 23 million they need about 300 million, likely a lot more.
Remember this time last year they were assuring us we would be getting close to production by now.
As for what I do on the key board that is not your concern. As I can see you have no skin in the game I do so show your support and step up.
I have been all in for ELIO for some time. I just see the real world not only the dream.
Future owner of ELIO number 8019 if they build it. Balance due is sitting there waiting for the delivery notice an invoice.

I think that's conjecture Smitty. If I wanted to grow my business, let alone not end up the laughing stock of the automotive industry I really don't see the incentive for companies like Dakkota, Peterson Spring, Irvin, Lear, etc, etc, etc to have anything to do with Elio Motors..... unless they reasonably believe Elio Motors has a shot, and will fight as hard as they can to succeed. I'd have to question any business that lightly gave away brand quality as you suggest. I also wonder if Elio really needs $300 million, or if they've learned to over state what they need so that they have some slack to maneuver and it definitely looks better if they "over" capitalize. I think Tesla was fully capitalized at $400 million and they had all spanking new technology, while Elio is virtually a little Frankenwagen with off the shelf parts and no new technology - just a smart way of putting existing stuff together.

I agree this time last year Elio was boasting he'd be in or just about in production by now, and PE ate crow in January as we all know, and said he was wrong, he messed up and had a cracked crystal ball. I don't know what he thought he had lined up for funding, but I think he thought he had something. I also think, since the engine testing, despite the lack of fanfare, there has been some sort of financial energy happening. I think Elio has gotten smarter, and is keeping his mouth shut and only saying something when it's in the bag.

Those are just my opinions, I welcome yours.