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What Is The Latest Start Production Date?
- Thread starter grampi
- Start date
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I would read it as to say the company should be able to stay afloat without the loan, but not be able to fund the investment for the advanced technology. In Elio's case, it's unclear how to interpret that. Elio produces nothing right now. Their vehicle is what the advanced technology is. They just need to be able to stay afloat producing nothing?
EM stated some time back that they have ATVM loan requirements that still have to be met. There is no catch 22 on the DoE ATVM Loan Program. People complain and criticize the program, but the DoE invited EM to apply and are waiting rather patiently for the required Elio proof of concept to validate claims on the application and see financials that support EM's ability to repay the loan. Seems logical and clear cut. EM may need a shot of private venture capital to complete the e builds and testing to help qualify for the ATVM Loan.
Private venture is unlikely unless there is a proof of concept E build racing around the test track. That is the catch 22 in my opinion.
Private venture is unlikely unless there is a proof of concept E build racing around the test track. That is the catch 22 in my opinion.
Elio Amazed
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No, that's not it. We've covered that quite a few times here.
The key wording is, "financially viable without the receipt of additional federal funding for the proposed project."
The key word being "additional".
As in, "no additional federal funding other than the ATVM loan."
In other words, it's like the disclaimer retailers use that says...
This special offer can not be used in combination with any other offer.
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Keith Stone
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I really hope they build it and I am patiently waiting!, however I believe instead of touring all over the country (and spending lots of$$$) for years straight, they should build it and let it speak for itself as you see them on the road with us patient reservation holders advertising for them!!
Ty
Elio Addict
LOL... financially viable?? That just means the project must show that it will make more money than it borrows. Jeez...
Ty
Elio Addict
Who is PM? Paul Elio? with a secret M in his name? If you were Paul Elio, would you give up control of your new company just because a few people are impatient about getting their car? I sure wouldn't. I would hold out until I had no choice. Is Paul taking chances by not accepting some kind of Angel donor? Perhaps. But more likely, he knows the risk he's taking and has judged it worth taking. It is not likely that Paul will let 8 years of his life amount to nothing. He will do everything he can to make this work. Think about it... If Elio really takes off, how much will it be worth? Now, imagine it's your car company... Now imagine you just lost 60% of it. Yeah, 60% of a car company might be worth waiting a little while for. Besides, why should he sell out right now anyway? He's still waiting on the body panel stampings. And his initials are PE, not PM.
Ty
Elio Addict
If you had a lemonade stand but were waiting on your sugar supplier to deliver, would you serve your customers lemonade with no sugar and "let it speak for itself"?
Ty
Elio Addict
In other words, you have to be able to show that you'll make a profit...
That takes me back to my short time at A&M. I spent one weekend working at the Texas 500 and the equipment for mixing cokes (syrup and carbonation) was malfunctioning and the product tasted awful. But it was cold and wet with temperatures over 100 and we sold them as fast as we could make them for the duration of the race.
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