They say:
Elio Motors launched a crowdfunding campaign promoting a new 3-wheeled electric vehicle that was supposed to hit the markets in 2014 with incredible fuel efficiency. The company was certainly good at one thing: Raising money from casual investors, to the tune of $17 million for its first crowdfunding round, including over 65,000 that reserved a model ahead of time. Elio even hit the road with a conference on how to properly raise money via crowdfunding.
Then … well, nothing happened. Elio Motors burned through its investment money in only a few short months, primarily on suspicious soft expenses easily summed up as “paychecks.” The supposed released date has been pushed back for years, Elio has failed to get any additional loans for production, and it is now obvious there will never be an Elio scooter. The company is currently selling its small amount of manufacturing equipment just to keep the lights on, and is expected to collapse entirely any time now.
Link is here:
https://www.digitaltrends.com/cool-tech/biggest-kickstarter-and-indiegogo-scams/
So it looks like we are all screwed and that we will never see the Elio in production. I just hope I have get my money back, but not holding my breath. I was one of the early supporters with a low place in line. Anyone have anything to add to this?
Elio Motors launched a crowdfunding campaign promoting a new 3-wheeled electric vehicle that was supposed to hit the markets in 2014 with incredible fuel efficiency. The company was certainly good at one thing: Raising money from casual investors, to the tune of $17 million for its first crowdfunding round, including over 65,000 that reserved a model ahead of time. Elio even hit the road with a conference on how to properly raise money via crowdfunding.
Then … well, nothing happened. Elio Motors burned through its investment money in only a few short months, primarily on suspicious soft expenses easily summed up as “paychecks.” The supposed released date has been pushed back for years, Elio has failed to get any additional loans for production, and it is now obvious there will never be an Elio scooter. The company is currently selling its small amount of manufacturing equipment just to keep the lights on, and is expected to collapse entirely any time now.
Link is here:
https://www.digitaltrends.com/cool-tech/biggest-kickstarter-and-indiegogo-scams/
So it looks like we are all screwed and that we will never see the Elio in production. I just hope I have get my money back, but not holding my breath. I was one of the early supporters with a low place in line. Anyone have anything to add to this?
