Financing, Etc.

[LarryD]

I think Elio Motors is at a do-or-die juncture in their development, and I'm not too confident that they will make it. On the engineering side, they have nailed the concept and implementation. On the PR side, they exude confidence and transparency about how everything will work out (assuming financing). But on the financing side, they seem lost in the weeds. I was very hopeful when they announced in their Sept. 16, 2016 PR that they had submitted an application for the Department of Energy's (DOE) Advanced Technology Vehicles Manufacturing (ATVM) loan program. They suggested that 65,000 reservations might be sufficient to satisfy the DOE requirements. Now that they have over 65,000 reservations, there is silence. I contacted them but they could not comment individually since they are a public company. I am waiting on a press release where they can make a public statement.

I think they may be ready to fold as there is no apparent source of funding for the estimated production costs of 376 million dollars (see here) and very little in their bank account. As a minimal shareholder and SIL holder (#18818) I have full confidence in the design and methodology used to create the vehicle. But my confidence in their ability to pull off this venture is quickly dwindling down to zero. At some point, one needs to be a realist. And I've reached that point.

 

[Johnny Acree]

First, Welcome to the forum!
You say you are a realist, but what real info has you so upset? Are you on the EM board? Have you signed a non disclosure agreement and been told stuff we don't know?
I didn't think so.
Please take a few deep breaths, relax, and realize you are nervous because you don't know what is going on behind the seines.
If you still want to talk gloom and doom, please take that over to Facebook. They have several pages just for that.
Over here, we are trying to keep things upbeat, or at least trying to not bring down any one else.
So, please stay a while, maybe go to the joke pages and tell a joke, then check out the food pages, maybe share a recipe or favorite restaurant. We're all just killin time waiting on our Elio. Let's try and make that time pleasant.

 

[Rickb]

 

[booboo]

I think Elio Motors is at a do-or-die juncture in their development, and I'm not too confident that they will make it. On the engineering side, they have nailed the concept and implementation. On the PR side, they exude confidence and transparency about how everything will work out (assuming financing). But on the financing side, they seem lost in the weeds. I was very hopeful when they announced in their Sept. 16, 2016 PR that they had submitted an application for the Department of Energy's (DOE) Advanced Technology Vehicles Manufacturing (ATVM) loan program. They suggested that 65,000 reservations might be sufficient to satisfy the DOE requirements. Now that they have over 65,000 reservations, there is silence. I contacted them but they could not comment individually since they are a public company. I am waiting on a press release where they can make a public statement.

I think they may be ready to fold as there is no apparent source of funding for the estimated production costs of 376 million dollars (see here) and very little in their bank account. As a minimal shareholder and SIL holder (#18818) I have full confidence in the design and methodology used to create the vehicle. But my confidence in their ability to pull off this venture is quickly dwindling down to zero. At some point, one needs to be a realist. And I've reached that point.

Well written general synopsis. Welcome.
I agree.
ElioMotors agrees.
It is ALL about finding the production funding NOW! How long does Elio have to find funding before folding ?
Tell me something. I don't know.
The ability to pull this off quickly ? One cashiers check from one of the 1%. Done!

 

[LarryD]

I think you guys have the right attitude. However, I am not bummed out since I really don't have that much money into it. The signs are not encouraging, but I am as hopeful as you guys. Did not mean to dampen the fun atmosphere here; I just needed to express my concerns out loud, so to speak. I guess there's either going to be a post-mortem or an analysis of success. Will hang out here in the meantime.

 

[Ty]

I think most of us strike that balance between enthusiast and cheerleader. We try not to be overly optimistic as we are typically pretty experienced in this world. However, we also have to remember that just because something feels wrong or because one piece of information looks bad, it doesn't mean that the whole thing is no good. As an example "I think they are at a do-or-die juncture". Other things we've all heard "Elio will lose the facility", "Paul is doomed because the ATVM is taking too long", etc. None of us know what is going on. We would be equally right in guessing "Paul must have an angel investor lined up and is waiting to see if the ATMV loan works out first."
-Just try to separate the facts from conjecture and all will be well.

 

[Grumpy Cat]

Larry,

You should read this thread: https://www.elioowners.com/threads/pop-up-event-5-16-2017.8356/

 

[Frim]

I think you guys have the right attitude. However, I am not bummed out since I really don't have that much money into it. The signs are not encouraging, but I am as hopeful as you guys. Did not mean to dampen the fun atmosphere here; I just needed to express my concerns out loud, so to speak. I guess there's either going to be a post-mortem or an analysis of success. Will hang out here in the meantime.

Welcome, We are not delusional, just an unrelenting hopefulness. We are going to celebrate whatever happens.

 

[floydv]

The Elio itself is the embodiment of optimism. How can we be otherwise?

 

[Frim]

The Elio itself is the embodiment of optimism. How can we be otherwise?

On the Public Radio station (St. Louis) this morning 5/26/17, The news person announced that a Ford dealer was going to concentrate his sales efforts on electric cars and conventional trucks. The dealer and announcer stated that there was a "transportation revolution" coming. He did not know when it would come or when the pay off would occur, but he was going to be the first in line. Go ELIO