Suppliers And Iav

[Past Fanatic]

There is a DoE program requirement of 75 MPG. That's the UEV (ultra-efficient vehicle) portion of the ATVM program that requires a minimum of 75 MPG. So when dealing with theoretical mileage you want it as high as possible to allow for creep one way or the other..

The ATVM Loan is a 'long way off',,,, even if they have the IAV engine, they still have to build the FIRST "E" Series vehicle to put it into... in order to DEMONSTRATE the "at least 75mpg" to the DOE. And I would not be surprised if the DOE required the engine to be EPA 'tested and certified'... BEFORE they approved the loan.

 

[WilliamH]

The ATVM Loan is a 'long way off',,,, even if they have the IAV engine, they still have to build the FIRST "E" Series vehicle to put it into... in order to DEMONSTRATE the "at least 75mpg" to the DOE. And I would not be surprised if the DOE required the engine to be EPA 'tested and certified'... BEFORE they approved the loan.

You don't know that and neither do I. And It is obvious that you haven't taken the time to look into the program requirements and details. You are making assumptions and we both know what that does to me and you. Take the time to look up the details of the program before making silly comments.

 

[Hightech]

........and that was a Tech Talks? I'm sure Elio Motors uses IAV engineering data in their Tech Talks relating to the engine development and marketing but IAV employees/engineers are actually writing and submitting the Tech Talks I receive in the weekly emails?

If we didn't reply with many unknowns there would be little discussion. Elio Motors replies with unknowns.

At the 2:20 mark the IAV guy claims to write them, even though he restates that he does work for IAV not Elio

I agree with the unkown part of your comment, I made the orignal remark as I was a little upset still as the previous poster stated I was harassing the suppliers.

 

[Rickb]

More like June '16......

We better know long before otherwise that 2016 production deadline date is meaningless.

 

[goofyone]

At the 2:20 mark the IAV guy claims to write them, even though he restates that he does work for IAV not Elio

I agree with the unkown part of your comment, I made the orignal remark as I was a little upset still as the previous poster stated I was harassing the suppliers.

I have seen that video as well and it would not surprise me if EM has asked him to write and/or has helped write the engine related Tech Talks. This would actually be a smart move on EM's part as he would be more knowledgeable about the engine than anyone at EM. I would seriously doubt he has anything to do with most of the Tech Talks not related to IAV's work.

 

[John Painter]

Elio Motors.

I could have swarn in late '13 Elio was saying they had money lined up - though I suppose Commissioner Lynch's lawsuit could have put a big dent in that, considering how much investors love to hear lawsuit along with their investment.

 

[Smitty901]

I could have swarn in late '13 Elio was saying they had money lined up - though I suppose Commissioner Lynch's lawsuit could have put a big dent in that, considering how much investors love to hear lawsuit along with their investment.

EM gave the impression that even without a Government loan guarantee they had the money to go into production. Now we know that was not the case you can argue why all day long it does not change anything.
If some how Elio gets the Loan Guarantee they still must line up lenders that are willing to make the loans. That is not as easy as you think.
The VA home loan is the same system . Government does not loan a dime they only guarantee the loan. It turns out that if you know how to get a loan and have good credit you can beat any VA loan rate by a large amount. Elio will still face some unattractive issue with securing the cash.
Call it was it is the Loan Guarantee is not a grant it is not cash handed over. The loan is by no means a done deal yet.

 

[John Painter]

EM gave the impression that even without a Government loan guarantee they had the money to go into production. Now we know that was not the case you can argue why all day long it does not change anything.
If some how Elio gets the Loan Guarantee they still must line up lenders that are willing to make the loans. That is not as easy as you think.
The VA home loan is the same system . Government does not loan a dime they only guarantee the loan. It turns out that if you know how to get a loan and have good credit you can beat any VA loan rate by a large amount. Elio will still face some unattractive issue with securing the cash.
Call it was it is the Loan Guarantee is not a grant it is not cash handed over. The loan is by no means a done deal yet.

How is the VA home loan system the same as DOE's ATVM program? Or do you mean it's similar in its a government backed loan, like like federal student loans. Which if that is the analogy you're making, the federal guarantee made it a slam dunk for getting my actual bank loan.

 

[Rickb]

I could have swarn in late '13 Elio was saying they had money lined up - though I suppose Commissioner Lynch's lawsuit could have put a big dent in that, considering how much investors love to hear lawsuit along with their investment.

Yes you are correct. Elio did say they had funding right up until the last delay. They didn't and never did. Most of the assumed funding was based on the sale of excess equipment which was to net EM $60 Million to start the hiring process for the 1500 promised jobs. After reading through the Caddo Parrish Commission Minutes and Commissioner Lynch's Lawsuit I assed she was simply trying to prevent any Caddo Parrish liability of pre-maturely investing $7.5 Million in public monies if Elio failed to deliver on their dream. Frankly, she was doing her job.

 

[goofyone]

I could have swarn in late '13 Elio was saying they had money lined up - though I suppose Commissioner Lynch's lawsuit could have put a big dent in that, considering how much investors love to hear lawsuit along with their investment.

Yes you are correct. Elio did say they had funding right up until the last delay. They didn't and never did. Most of the assumed funding was based on the sale of excess equipment which was to net EM $60 Million to start the hiring process for the 1500 promised jobs. After reading through the Caddo Parrish Commission Minutes and Commissioner Lynch's Lawsuit I assed she was simply trying to prevent any Caddo Parrish liability of pre-maturely investing $7.5 Million in public monies if Elio failed to deliver on their dream. Frankly, she was doing her job.

Actually we know that EM had funding agreements lined up, via a previous private placement, however these funding deals collapsed when EM failed to secure the plant in a timely manner as it took about nine months longer than originally expected for IRG to secure the plant lease. That nine month delay in securing the plant was also the direct cause of all the delays previous to the one last month as EM was not able to give a new production estimate until after they secured the plant in May 2014.

The indirect effects of the plant delay and losing the funding deals is still being felt by EM and had a hand in delay announced last month. To get to the point where the new private placement could be sold there are a number of hoops that must be jumped through, including seed money, setting up the placement and a 90-day due diligence waiting period, This all resulted in the fact that the new private placement could not be sold until January.