Latest On Production Date: Q4 2016

[brian34220]

CEO Paul Elio says his latest prediction has been pushed from mid-2016 to the end of 2016:
http://www.ksla.com/story/29947290/elio-motors-announces-another-production-start-delay

omg.... not again.... Wait for GM's bankruptcy ? if not then what happen to us? what is the money for? Paul Elio makes me a thing twice now..
I hope Elio has Plan B....because its been wait too long........

 

[JEBar]

the delay from the third to the fourth quarter of 2016 is old news .... GM having gone through bankruptcy is much older news .... if/when it goes into production, folks with reservations will be able to place an order .... its really pretty simple --- if/when it should fail, people with "All In" reservations will lose their money, people with "Want In" reservations will get their money back

 

[Buckeyejake]

Hate to be the bearer of bad news but if Elio files for bankruptcy protection the "want in" reservationists won't get a dime back.

 

[JEBar]

interesting, I thought that money was held in a separate account so as to guarantee that the money is refundable

 

[WilliamH]

Hate to be the bearer of bad news but if Elio files for bankruptcy protection the "want in" reservationists won't get a dime back.

Really wish you would provide a source for that statement.
Like for example, someone who is an attorney who specializes in bankruptcy law in the state where Elio is incorporated.

 

[WilliamH]

omg.... not again.... Wait for GM's bankruptcy ? if not then what happen to us? what is the money for? Paul Elio makes me a thing twice now..
I hope Elio has Plan B....because its been wait too long........

Perhaps you should read the entire piece from KSLA.
Especially toward the end where three paragraphs say ............

......."A RACER Trust spokesman says they will likely grant Elio Motors another extension to the 4th quarter of 2016.

"RACER Trust maintains full faith and confidence in Elio Motors and its plan to produce its three-wheel vehicles in the former GM Assembly and Stamping Plant in Caddo Parish," Behan Communications Vice President Bill Callen said in a statement. Behan Communication's is RACER Trust's communications consultant.

"CEO Paul Elio has kept RACER fully informed of his progress in securing capital, building a supply chain and other important business milestones. We recognize the challenges of launching a successful startup, particularly in the automotive sector, but we are satisfied with Mr. Elio’s business plan and his progress to date," Callen said. ".............

Besides which this is old news. (Sept 2, 2016 updated Sept 16, 2015)

 

[Buckeyejake]

Really wish you would provide a source for that statement.
Like for example, someone who is an attorney who specializes in bankruptcy law in the state where Elio is incorporated.

Just my personal business experience in dealing with companies that have filed for bankruptcy protection. For what it's worth. That's why I chose the "all in " option.

 

[imageon]

They need to finish the P5, plop Jay Leno in the thing and get some national publicity.
I want to hear the sound of 60,000,000 heads snapping around as Jay goes through the gears.
MK

 

[Coss]

They need to finish the P5, plop Jay Leno in the thing and get some national publicity.
I want to here the sound of 60,000,000 heads snapping around as Jay goes through the gears.
MK

It needs to get on his new TV show "Jay Leno's Garage", Wednesdays on CNBC 10pm Eastern.
But to do that they may need to give him one (like an E2)?

 

[imageon]

It needs to get on his new TV show "Jay Leno's Garage", Wednesdays on CNBC 10pm Eastern.
But to do that they may need to give him one (like an E2)?

Yep.