Elio didn’t have a track tested prototype to use for test drives and/or the ATVM Loan approval process..........no engine.......no final specs.. Keep in mind the attached comments below made by a contract employee hired to assemble the planned 5 engineering vehicles with the $15 Million of Reg A+ Funds. Only 2.5 of those vehicles were partially completed. You don’t think Elio Motors would have been struggling to scale production numbers? I only wish Elio had a fully FMVSS certified production vehicle, was in the process of hiring/training employees, tooling the factory, parts suppliers, engine manufacturing, delivery, stores, Pep Boys servicing network, and the list goes on and on.
I don’t feel that everyone is excited about the FUV simply because I am, but it’s evident that everyone that actually test drives the FUV is excited based on the ear to ear grins on their faces. Some of those excited test drivers will choose to buy the FUV, some excited test drivers will choose not to buy because the FUV doesn’t quite meet their needs for personal reasons. Arcimoto wasn’t marketing reservations or SIL#’s by using discounting marketing tactics on a vehicle that was already to low priced to make a profit. Arcimoto was efficiently spending their limited private funding on R&D, while taking a simple $100 reservation deposit refundable at any time for any reason with current total of 4300+ Reservations. Arcimoto did their IPO funding round only after the R&D was complete using private venture capital and had 4 private owner Signature Series FUVs @ $43K on the road. First round Funding was used for tooling the AMP and building the required Beta Fleet required for road testing prior to finalizing the Retail FUV specs.. Arcimoto is currently assembling 2 or 3 units per day, delivering the first 100 individual and fleet sales retail orders, while scaling production & planning for expanding the retail sales and servicing network roll out. It takes time and there looks to be positive momentum from a reservationist and long term investor standpoint. No comparing the 2 startups. IMO.
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