Class Action Elio Lawsuit Has Over 800 Signatures...

[Travelbuzz1]

And then what?

Damifino... 940 Signatures....
The Difference Between Elio's Crowdfunding Pitch And What Elio Tells The Government. 12/07/15
https://jalopnik.com/the-difference-between-elios-crowdfunding-pitch-and-and-1744213503
But while Elio’s rosy advertising materials blare words like INVEST NOW, the filings present a more complex situation.

 

[art g]

We all just bought into the pipe dream.

 

[JK]

Welcome to the forums art g!

 

[Doctorbar]

Reading some of the comments in the petition I find it interesting how many are calling it a scam. People don't understand that a business can fail and not be a scam. It can also be poorly run and not be a scam. In order for it to be a scam there must be irrefutable proof that the intent was to defraud the consumer. I have not heard of any evidence that would suggest that Elio Motors has been perpetrating a fraud. Sure, the vehicle has not been made, but that in itself does not show fraud. After they got the first 64,000 reservations they did not aggressively try to get as many reservations as they could get. They stopped showing the prototypes and did not offer any more incentives. If they had gone after 100-200 thousand reservations, gave bigger discounts etc. then they might have gotten the legal system looking at them more closely. What they did do was reduce the discount and raise the price. They never allowed someone to invest more than $1000 on any one vehicle. If it were truly a scam, I would think they would have been promoting the hell out of it.

They did change some laws and started paving the way for the next person. This is the hardest country to produce a car from scratch. Safety, safety, safety. As a kit car, probably

 

[JK]

Welcome to the forums Doctorbar!

 

[Coss]

Hmmm and it's not the first of the month, oh my, this doesn't say what's in the future...…...

 

[RSchneider]

They did change some laws and started paving the way for the next person. This is the hardest country to produce a car from scratch. Safety, safety, safety. As a kit car, probably

Actually, it's easier here in the US and especially when you want to build a three wheeler. It's not subject to all of the car safety, that was Elio which wanted to make it safe, not the US govt. Plus the US has an excellent infrastructure and supply network for cars and motorcycles.

The main thing is, people just are not interested enough in three wheelers. They are, when you are talking about niche (i.e. Vanderhall and Slingshot). This set up a catch 22 for Elio. The needed the 250K per year production numbers to make the $7500 to work (even at that, I don't see anything less than $12K for them to make a profit).

As for a kit, Factory Five has the cheapest kit for $10K and then you need to supply the donor. That company has been around for years and has the kit car business down pat. Elio would be starting from zero experience in that arena. Even if Factory Five did an Elio kit, it would be no cheaper than their cheapest existing complete kit of $10K. Then that doesn't count the donor car and the other things you inevitably will need. In the end, you'd have a $20K Elio if you were doing it cheap. Then you are into a niche of a niche.

Think about it. Look how long it's taken Arcimoto to make a production unit and it's pretty much a glorified golf cart. They are doing low volume and even now, are struggling to make production units (look how much longer RickB has been waiting from when he thought he was going to get his).

 

[Rickb]

Think about it. Look how long it's taken Arcimoto to make a production unit and it's pretty much a glorified golf cart. They are doing low volume and even now, are struggling to make production units (look how much longer RickB has been waiting from when he thought he was going to get his).

..........only 6 months longer due to Arcimoto having to swap out a turn signal housing, due to the failed turn signal ‘visibility’ test required to fully certify the FUV. The FUV FMVSS certified back in 9.19.19.

 

[Made in USA]

The lawsuit might be better off suing for fiduiciary duty failures. Then they could go after the personal money, not the companies money (they have none).

https://www.upcounsel.com/breach-of-fiduciary-duty

 

[W. WIllie]

Don't show that to the **removed**