5/16/2014 Production Update From Paul Elio

[AltoidBox]

I never really 'bought' the LAWYERS and 'assessing the plant equipment' explanations;....... this sounds more 'reasonable' for the DELAY:

In the email this thread is about, Paul says it is due in part to funding:

This is a few months later than anticipated, with the delay tied to the evaluation of the plant as well as the timely closing of financing commitments.

Note the part about "timely closing of financing commitments."

Sent from my Nexus 5 using Tapatalk

 

[RogWild]

In the email this thread is about, Paul says it is due in part to funding:



Note the part about "timely closing of financing commitments."

Sent from my Nexus 5 using Tapatalk

Like I said; "I never really 'bought' the LAWYERS and 'assessing the plant equipment' explanations", the part about "the timely closing of financing commitments", IS credible.

 

[RogWild]

I was 'hoping' this would be the LAST delay, with the statement: "

Vassallo told me that delays were due to money issues and getting the engine ready, but Elio is now “fully funded to production.” BUT with Elio Motor's post TODAY on FaceBook;
Elio Motors Hey John,

Jim Motavalli of CarTalk wrote an excellent blog yesterday that captured some of the progress we are making and the overall excitement that people feel for Elio Motors. We did need to clarify one thing, however, as we might have been unclear with Jim about where we are in our fundraising efforts.

Here are the facts:

Fundraising is going really well and we are quite pleased with where we are today, but we are not funded to production as the article states. We have $55 million to date and we are talking to additional investors to raise another $200 million to get us to production. There is a great deal of interest and enthusiasm for Elio Motors and we are optimistic about where we are heading.
Like · Reply · 2 · 2 hours ago · Edited


I can see MORE DELAYS in the future!

 

[creekstone]

... Elio Motor's post TODAY on FaceBook...
Fundraising is going really well and we are quite pleased with where we are today, but we are not funded to production as the article states. We have $55 million to date and we are talking to additional investors to raise another $200 million to get us to production.

I can see MORE DELAYS in the future!

Great info! I'm not a FaceBook fan; can someone verify? (No slight intended RogWild; just want to firmly establish confirmation/credibility.)

So basically, Elio Motors is stating they need a total of $255M to get to production. $55M in hand. $200M needed.

As for delays... yes, entirely possible. But with the right investor(s), $200M is entirely possible sooner rather than later.

I think Elio Motors has their ducks in a row. They just need some deep pockets to step up. Again, I like their odds.

 

[Wheelthang]

I'm new so this may be something I'm not "up to date" on but, why do the posts on this thread stop at May 29, 2014? This is July 3, 2014! Where are Jun posts?

 

[zelio]

I'm new so this may be something I'm not "up to date" on but, why do the posts on this thread stop at May 29, 2014? This is July 3, 2014! Where are Jun posts?

Short attention spans would be my first guess. Also we simply get so many things to read we move on to other topics. You will notice that there are now posts for today's date - yours and mine. LOL Z

 

[eddie66]

Here's one of them thar google alert articles.
http://www.youngherald.com/elio-motors-the-three-wheels-car-start-producing-next-year/714/

 

[zelio]

Here's one of them thar google alert articles.
http://www.youngherald.com/elio-motors-the-three-wheels-car-start-producing-next-year/714/

Thanks for another good post. It seems hard to believe that before May 1 the Elio was rarely seen or mentioned. Now it is daily. Go Elio! :-) Z

 

[karl]

Seems the promotion efforts are starting to make a difference. I am so looking forward to driving mine...

 

[Dallas]

Keep the faith fellow elio supporters. I know many of you are getting tired of waiting. But one needs to remember that building a truly new type of production car is a really hard project to start. I would rather elio take the time to do it right, then for them to rush into production with a inferior product. I think we all can agree that we have seen from almost every other car company a rush to get a car to market. The result is poor quality and disappointed customers. So let them do it right!! I believe that the Elio is a new way of thinking. Most car company's brag on how complicated there car is. In my mind simple is way better. A car that is both simple to buy and simple to work on. And to add to this simplicity is simple to pay for the fuel. Gone are the days when you spend a good portion of you paycheck just to pay for the fuel to get to work. Simply put you bring more home of your paycheck to pay for more important things in life. I.E your family. So to sum it up elio reservist. Let not your heart be troubled. Our time is coming.
Fellow elio reservist,
Dallas