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Atvm News - 2018 Fed Budget Proposal

airforceguy6

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Hello hopeful Elio Owners,

I saw this news from The Washington Post regarding the administration's 2018 Budget Proposal which was released today. I understand that this subject may cause political comments from either side, but please leave them out. This was pulled out of the entire list of the proposed cuts/increases to the federal budget, which you can find the details of the proposal at this source:

https://www.washingtonpost.com/graphics/politics/trump-presidential-budget-2018-proposal/#defunded

Energy Sector:
"The Trump budget proposal, which cuts the Energy Department's budget by 6 percent, would boost spending on managing the nation’s nuclear stockpile and revive the controversial Yucca Mountain storage facility for nuclear power plant waste. It would slash spending on a host of science and climate areas.

-Eliminates the Energy Star, Weatherization Assistance Program, ARPA-E, Advanced Technology Vehicle Manufacturing Program, and Title 17 loan guarantees..."


I understand that this is the 2018 proposal, which wouldn't go into effect for some time (and still has to be approved), but it may be an indicator for what direction the ATVM loan program is headed for.
 

Samalross

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I think that any shareholder, not selling this morning, is going to lose everything. Paul's odds of selling his ownership dropped to almost zero.
 

Elf

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The ship maybe sinking but it hasn't sunk yet .As my father said "I'd rather die than give up ".
Just watch ,Elio will happen in one form or another in the next year . I remember being on the Titanic and the captain told us we we're all safe ,here I am :D
 

Samalross

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I think the reservation holders are safe. Solo is stepping up to the plate and whoever buys Elio Motors during bankruptcy, should honor the reservations. Right now I think the shares will be zero by the end of April. I have been wrong many times before.As of 923 there is only 600 shares bid on prices above .01 cents.
 

RSchneider

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Remember, if the company goes bankrupt, it doesn't mean that someone has to buy the whole business. Someone could just buy the intellectual property (data, CAD files) and physical property only pertaining to the cars (cars already built, tooling and parts). Then the plant machinery would be sold off (I think Elio owns everything in the plant). Sales of these items to pay off the debt. As for the reservation holders, I can't imagine anyone would want to touch that at all as there's no benefit to doing so. The all ins never get a car and the refundable get their money back since it has to be in escrow.

There's too much of a risk right now with the all ins. For example, the car might need to be sold for $8K and the contract is not for that amount. You raise the base price, then expect a class action lawsuit with those reservation holders. Maybe the 5% of the reservation holders don't mind a price increase but the other 95% will.
 

Bikebrains

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-Eliminates the Energy Star, Weatherization Assistance Program, ARPA-E, Advanced Technology Vehicle Manufacturing Program, and Title 17 loan guarantees..."
Now is the time to act and stop this madness. Contact your members of Congress, your state's two senators and your house representative. Emphasize the benefits that Elio can bring to your state: affordable transportation, cleaner air and jobs. Use this website to find your state's representative: https://www.usa.gov/agencies . For ATVM information use: https://search.usa.gov/search?affil...nced+Technology+Vehicle+Manufacturing+Program
 

Maurtis

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There's too much of a risk right now with the all ins. For example, the car might need to be sold for $8K and the contract is not for that amount. You raise the base price, then expect a class action lawsuit with those reservation holders. Maybe the 5% of the reservation holders don't mind a price increase but the other 95% will.

They screwed that pooch when they locked in the price for $7,300 and binding commitments at $7,000. Whether the contract holders mind is a different story, but breaking thousands of contracts guarantees lawsuits. If the base price has to be raised to make it work, they are just going to have to take a bath on those first sets of all-ins.
 

Samalross

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They screwed that pooch when they locked in the price for $7,300 and binding commitments at $7,000. Whether the contract holders mind is a different story, but breaking thousands of contracts guarantees lawsuits. If the base price has to be raised to make it work, they are just going to have to take a bath on those first sets of all-ins.
The new company will not have to honor any of the reservations, but I think they will give them something to keep their loyalty and for good PR. I don't think that they will sell the cars for $7000 though, would be too much of a loss.
 

Maurtis

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-Eliminates the Energy Star, Weatherization Assistance Program, ARPA-E, Advanced Technology Vehicle Manufacturing Program, and Title 17 loan guarantees..."

This is not surprising to me at all. When they announced Perry heading up the DoE and looking into the ATVM program, I posted here wondering why Elio Owners thought this was a good thing. To me, the program seems more skewed towards electric and alternative power, something Perry the Texan would not want to pursue.

I know that Elio will not give up without a fight and am sure there is money out there if he will agree to give up control of the company. He can still be President and/or CEO, just not be the only voice that matters.
 
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