Loss Of Luster

[Jeff Porter]

Same here. Picked up a used 2005 Honda CRV for $3,000 as a back up for our aging cars. The overall design of the ELIO in my opinion will continue to garner interest whether the gas prices goes up or down. It is also my opinion that the 2 musts are achievable. the other 2- Uncompromised safety and price to me is a big question mark and could cause more delays. Getting everything ready to meet EM's production target for the first half of 2016 is another story and it's all dependent on the funding timeframe...that is if they ever get it. I'm mostly glass half full so I'm still expecting that the ATVM loan will get approved so they can get the ball rolling again. EM's hands are tied behind their backs and is forced to give a target date for prospective depositors although in reality, they know that it's all dependent on WHEN they will get the funding so I won't be at all surprise if the 4th quarter 2016 is a more realistic expectation for actual production considering the amount of work to be done- setting up the production line for assembly, setting up the line for engine assembly, programming the robots, acquisition of parts and materials, setting up the delivery infrastructure, I can go on and on. I hope to park my shiny silver ELIO (blue for my wife) someday and have accepted these delays, after all, EM already have my 1K non refundable deposit!
My only real issue with EM is how they can continue to advertise the $6,800 price knowing fully well that it may never be met. Any unsuspecting (naïve and trusting) person who failed to do their own research could just make a deposit not knowing that there is no funding at the moment to bring ELIO to fruition. Of course, it does not show anywhere in EM's website about their funding problems, or any fine print saying the price "may change at any time without prior notice", at least to warn these potential depositors. But that won't be good business sense for EM- so where is the truth in advertising? CAVEAT EMPTOR(Latin) I say. You fellas be the judge.

For the ATVM loan application, didn't they submit that in August 2014? It would be about 9 months now if so. Does anyone think they should give an answer inside of 12 months after the application submission date?

 

[WilliamH]

For the ATVM loan application, didn't they submit that in August 2014? It would be about 9 months now if so. Does anyone think they should give an answer inside of 12 months after the application submission date?

Keep in mind that ATVM is the DoE.
So who should give the answer? DoE? Elio?
Is there an NDA in effect that Elio can't comment on?
How many years have we been waiting for the IRS e-mails?

 

[John Painter]

For the ATVM loan application, didn't they submit that in August 2014? It would be about 9 months now if so. Does anyone think they should give an answer inside of 12 months after the application submission date?

No. They are in the due diligence stage, which means just that. It will take however long it needs to take to gather and review the information necessary to form an opinion.

 

[Past Fanatic]

"we are pleased that DOE has moved expeditiously thus far on our loan application," said Paul Elio (23 Oct, 2014)

 

[Rickb]

"we are pleased that DOE has moved expeditiously thus far on our loan application," said Paul Elio (23 Oct, 2014)

Expeditious: Acting in a quick and efficient way. The DOE may have been expeditious in receiving EM's loan application, but not so expeditious in processing the loan application.

 

[Smitty901]

"we are pleased that DOE has moved expeditiously thus far on our loan application," said Paul Elio (23 Oct, 2014)

That statement say nothing. A canned response

 

[Hog]

Here is an older one from my FB page I just found - true, it is not Elio directly saying this, but they got the date from someone...

 

[JEBar]

nice picture

 

[Hog]

Here is the article -

http://www.eliomotors.com/air-herald-article-92914/

"...Elio Motors is getting closer to production they are saying, which is scheduled to start in the third quarter of 2015. The company is saying that they have 34,000 reservations for their new car/motorcycle (depending on where you live), and that number is up 6,000 from the previous month...."

 

[John Painter]

Same here. Picked up a used 2005 Honda CRV for $3,000 as a back up for our aging cars. The overall design of the ELIO in my opinion will continue to garner interest whether the gas prices goes up or down. It is also my opinion that the 2 musts are achievable. the other 2- Uncompromised safety and price to me is a big question mark and could cause more delays. Getting everything ready to meet EM's production target for the first half of 2016 is another story and it's all dependent on the funding timeframe...that is if they ever get it. I'm mostly glass half full so I'm still expecting that the ATVM loan will get approved so they can get the ball rolling again. EM's hands are tied behind their backs and is forced to give a target date for prospective depositors although in reality, they know that it's all dependent on WHEN they will get the funding so I won't be at all surprise if the 4th quarter 2016 is a more realistic expectation for actual production considering the amount of work to be done- setting up the production line for assembly, setting up the line for engine assembly, programming the robots, acquisition of parts and materials, setting up the delivery infrastructure, I can go on and on. I hope to park my shiny silver ELIO (blue for my wife) someday and have accepted these delays, after all, EM already have my 1K non refundable deposit!
My only real issue with EM is how they can continue to advertise the $6,800 price knowing fully well that it may never be met. Any unsuspecting (naïve and trusting) person who failed to do their own research could just make a deposit not knowing that there is no funding at the moment to bring ELIO to fruition. Of course, it does not show anywhere in EM's website about their funding problems, or any fine print saying the price "may change at any time without prior notice", at least to warn these potential depositors. But that won't be good business sense for EM- so where is the truth in advertising? CAVEAT EMPTOR(Latin) I say. You fellas be the judge.

Just some thoughts. Elio has commented several times that Comau already knows how to set up the plant and they will only need about 3 months lead time before the start of production to set it all up. I'd agree that it is not in bold print on the Elio Motors website where they are at in funding - though I don't see that with GM either, and they just went through bankruptcy, or any other company. I would not agree that the reservation contract doesn't indicate that the price may change at any time without notice e.g.
6. Purchase Price
Base vehicle and/or option pricing may not be available at the time of your reservation and, if pricing is available, it is subject to change until agreed upon in an executed Purchase Agreement.