Jalopnik Claims Elio Has Only $100k In Bank, $123 Million In Debt

[Coss]

It "usually" only takes EM a day of two to answer emails, but lately it's been taking weeks !!!

Tell me about it, I mailed them on 12-24 and just got the answer yesterday.

For the $100 all in, this is what Elio tells me:
"Make your reservation now at $100 and you will be behind the $1,000 “All In” level (approximately 21,200 reservation holders), the $500 and $250 “All In” levels and the other reservation holders before you at this level. You can get your Elio sooner by moving up a level, or three!"

I emailed Elio this morning to change their site so people that are buying at different levels, know what their approximate number in line will be. Since 55K is the number for a $100, it would be good for them to let people know because they have more of an incentive to pay more to get further up in the line.

I'd think doing this would really help and then people that don't know they would be understand where they sit. What's the difference between $100 and $500 or $500 and $1000. If I knew that $900 leapfrogs me from 55K to 21K, then that's a pretty good incentive. If $400 only takes me 1K (I'm assuming since I don't know the numbers). For the DOE, having 55K, people that did 1K, that would be impressive as most don't have $1K to blow. As for $100, not the case.

It's good to know that Continental is opening up a plant in LA. They have a huge plant in SC. I can't find anything on the Continental Automotive website when it comes to Elio or them opening a plant there. That's a pretty big deal, you'd think they would notice it. I did see a press release of Continental supplying tire that will be made in SC. I can't find anything from Hyundai when it comes to setting up a seat plant in LA. I do find many Elio press releases about this but none from these suppliers. Building a tire or electronics plant (Teves) is a big deal. Only reason I bring this up is because the partner announcements are backwards compared to any other manufacturing I've seen. That's what really confuses me and not clear at all.

I've emailed Elio with some questions but have only got back a letter that seems to just be a boilerplate. With you guys that are talking to the executives, it's about the only way I can get any answers. I would like to thank you for helping out some of us newbies.

You have to figure that some people can only afford $100 or $250 right now; coming up with a grand is a tall order for some people.
There are those on fixed incomes that want, but can't; I was one of those people on a fixed income. When I was working and bringing home a 6 figure income, a $1,000 was nothing to come up with; now, a $100 has become a lot of money again.

And there is one way to get better responses from EM; you stated "I emailed Elio this morning to change their site ......." you know if you suggest things rather then telling them, you might have better luck in getting things done.

Over time you'll discover that soft persuasion does work better then "Do as I say" attitude. There is one thing I have learned over all my years, people respond better if you make it sound like their idea; and just because you see something a certain way, it doesn't make other people wrong because they see it differently. There's a book that someone said I should read a long time ago, and ever since I read it, I suggest it to others. The name of the book is How to win friends and influence people. It came out in 1936 written by Dale Carnegie

On Kindle it's only $3.20 and they have an audible version for free; one of the best books anyone in the business world can read.

 

[AriLea]

My dad always said, "You catch more flies with honey than vinegar."
(lol, vinegar does work sometimes)

 

[Coss]

This fits in this thread:
The Elio Team posted: "Before we get to this week’s Three Wheeling Blog, we wanted to share some thoughts that may help you navigate some recent information that was presented in a misleading fashion about our most recent SEC filing. First, the accounting term "accumulated def"



New post on Elio Motors

The Elio and Snow!
by The Elio Team

Before we get to this week’s Three Wheeling Blog, we wanted to share some thoughts that may help you navigate some recent information that was presented in a misleading fashion about our most recent SEC filing.

First, the accounting term "accumulated deficit" is defined as the amount a business reports in the stockholders' equity section of its balance sheet when it has paid more dividends and generated more net losses than profits over the life of the business. In the case of many startups like Elio Motors, the accumulated deficit stems from expenses we have incurred during these years of developing the Elio, such as research and development, engineering and other business activities. Accumulated deficit is not debt as was represented in various articles and is not “owed” per se. We have debt on our books, as most startups do, which is normal when growing a business like Elio Motors.

As an interesting piece of information to show you the impact of how information is presented, Tesla Motors, a company starting up in the same space, has an accumulated deficit of over $2.8 billion, according to its Form 10-Q for the quarter ended September 30, 2016. Starting a business, especially an innovative transportation company in a capital intensive industry, takes a lot of resources to get a product ready for sales to the public.

[Broken External Image]


Happy Friday Elio’ers! We are officially in the thick of winter. Summer may be the most popular time of year, but winter definitely has its advantages. For outdoorsy types, a winter wonderland is the perfect playground for skiing, snowboarding, snowshoeing, sledding, etc.! Also, cold winter temperatures mean that we’re in the thick of the NFL playoffs. It may be cold and snowy in many places across the country, but let’s focus on the positives!

Whether you’re a weekend winter warrior or a cold weather couch potato, you probably are on the move year-round. Come blizzard or high temperatures, we need to get where we need to be, and nasty weather is not a good enough excuse. When it comes to the Elio, we get a ton of questions about its performance in the snow. And why not? At first glance, our vehicle has a unique configuration and an ultra-affordable base price, so we understand why the questions come rolling in. So, let’s take a look at how the Elio performs in the snow and cold.

First, let’s look at the passenger cabin. The Elio comes standard with A/C, heat, and defrost. As part of our E-Series testing, we sent the E1-D to our HVAC supplier RedDOT in Seattle. They put the vehicle through the ringer, exposing it to extreme hot and cold temperatures. RedDOT’s testing showed that the Elio’s HVAC is more than up to the task of keeping Elio drivers warm and toasty on winter drives. So, no worries when it comes to the inside!

[Broken External Image]

And the outside? We’ve got you covered. Our vehicle has tremendous ‘traction action’ which lets it make easy work of snow. Having the engine in the front places most of the weight over the front two tires, giving us a low center of gravity. Add in front wheel drive, traction control, stability control, and ABS and you’ve got a winning combination.

While our plant in Shreveport used to build Hummers, you wouldn’t confuse the Elio with a heavy-duty SUV. Our vehicle will handle snow like many other small front wheel drive vehicles. While our vehicle won’t replace a four-wheel drive tank, it will be able to handle reasonable amounts of snow.



We’ve received quite a few questions about possible options that will improve how the Elio performs in the snow. Folks in Alaska and North Dakota have asked if block heaters, chains, and other options will be available. The simple answer is…yes! As a part of our ePlus option program, we are looking to add a ton of different winter options, and a winter package is definitely on that list. If there’s a market for an option it will be available!

Elio Preview Tour:

January 14- 22: Detroit, MI – North American International Autoshow – Cobo Center

Thanks for your support and have a fantastic weekend!

The Elio Team | January 20, 2017 at 6:36 pm

 

[Maurtis]

I saw that email and immediately thought of this thread. Lately their emails/blogs have pretty much been forum replies, which works fine for me. I love that they are hearing our concerns and take the time out to address them. Sure they do not tell us much, but at least we know they are listening.

 

[Coss]

I saw that email and immediately thought of this thread. Lately their emails/blogs have pretty much been forum replies, which works fine for me. I love that they are hearing our concerns and take the time out to address them. Sure they do not tell us much, but at least we know they are listening.

Correct; I wonder if they are members here or if they just sign in as "Guests"
I haven't found any "footprints" yet.

 

[Husker1]

Correct; I wonder if they are members here or if they just sign in as "Guests"
I haven't found any "footprints" yet.

Hmmm

Oh they know of us; they were members originally, until they got buried in questions and to a degree some abuse.
It was a long time before they would come near this forum; so they browse in here once in a while, totally unannounced; they probably don't use accounts, just a guest log in so they can browse. So they are aware of what goes on, and what is said here; but leave no footprints if you know what I mean. As for Paul himself stopping in; I can't say if he's ever been here or not. He's got a new car company to launch, I'm sure he has people that follow the media as their job.

 

[Coss]

Hmmm

Yup, said I was looking for footprints both times.
I think you'll find the same quote a few more times on here if you expand your search.

What's you're point?

 

[Husker1]

In the first quote you say " I wonder if they are members here or..."
2nd quote you say " oh they know us they were members originally..."

 

[Officespaced]

Out with a caveat too...short sellers are using this forum to try to swim against the tide of US manufacturing coming... I'll take that bet; 65k at a 85% lock in rate, 75 plus highway MPG...VCs waiting (in my opinion) in the wings for final DOE ATVM decision. I don't make bets that I lose by the way. Won't speak about it again until proven correct...again. No more controversy from me...I'm out of this thread of interrogation. Go Elio!!!

Where is the proof of this?

You have your numbers wrong. 65,000 will have paid money to buy the Elio; it's almost 64,000 right now. As I explained above, a total of 55,000 people are all-in. 21,000 of those have paid the max of 1,000 all-in. I don't know what percentage of those all-inners would walk away from the car, but I can't think it's a large number. I wish you guys would pay attention here, because it's important.

1. Elio has paid reservations worth over $400,000,000. How much over? Depends on options, which EM has not calculated into its profit figures, but it could easily be another $1,000 or more per car (statistically, 93% of Americans opt for automatic transmission when it's available, and the profit per unit to Elio is around $500 per unit at current pricing). This is big bucks, already on the books.

2. How many will actually buy is unknown. Some will have had a change of circumstances, some a change of heart. But with non-refundable money down, most will actually buy the car. Plenty to repay DOE and other debt and still have operating capital for Year 2.

3. Elio considers the supplier base are really big part of the equation. Several suppliers, including Conntinental and the seat maker (name escaping me at the moment) have agreed to build facilities adjacent to or even within the Elio plant. These people believe the car will succeed -- and they are too big to do it on a whim. They have analyzed the market and the profitability, and are willing to invest heavily in its success. Oh, yeah, the Canadian folks are building an engine plant relatively near by. In Elio's opinion, this could the the persuading factor that persuades DOE that this is not a fantasy -- IF DOE does its due diligence.

Paragraph 3 is not my imagination. It is based on conversations with the relevant executives at EM.

This is all stuff DOE needs to know in order to feel good about the loan. The problem is that DOE is not at present making any effort do do this digging. Someone there is blocking this loan, for which there are a number of possible reasons I'm not going to get into on this board.

That's why the letter writing and twitter campaign are important. If you want your Elio, I suggest you get on board.

T

For the $100 all in, this is what Elio tells me:
"Make your reservation now at $100 and you will be behind the $1,000 “All In” level (approximately 21,200 reservation holders), the $500 and $250 “All In” levels and the other reservation holders before you at this level. You can get your Elio sooner by moving up a level, or three!"

I emailed Elio this morning to change their site so people that are buying at different levels, know what their approximate number in line will be. Since 55K is the number for a $100, it would be good for them to let people know because they have more of an incentive to pay more to get further up in the line.

I'd think doing this would really help and then people that don't know they would be understand where they sit. What's the difference between $100 and $500 or $500 and $1000. If I knew that $900 leapfrogs me from 55K to 21K, then that's a pretty good incentive. If $400 only takes me 1K (I'm assuming since I don't know the numbers). For the DOE, having 55K, people that did 1K, that would be impressive as most don't have $1K to blow. As for $100, not the case.

It's good to know that Continental is opening up a plant in LA. They have a huge plant in SC. I can't find anything on the Continental Automotive website when it comes to Elio or them opening a plant there. That's a pretty big deal, you'd think they would notice it. I did see a press release of Continental supplying tire that will be made in SC. I can't find anything from Hyundai when it comes to setting up a seat plant in LA. I do find many Elio press releases about this but none from these suppliers. Building a tire or electronics plant (Teves) is a big deal. Only reason I bring this up is because the partner announcements are backwards compared to any other manufacturing I've seen. That's what really confuses me and not clear at all.

I've emailed Elio with some questions but have only got back a letter that seems to just be a boilerplate. With you guys that are talking to the executives, it's about the only way I can get any answers. I would like to thank you for helping out some of us newbies.

Hyundai Dymos is the seat manufacturer. Hyundai Glovis, another Hyundai division, just opened shop in a portion of the Shreveport facility that Elio does not lease:

http://www.ksla.com/story/34180796/hyundai-glovis-to-bring-396-new-jobs-to-former-gm-plant

 

[Kuda]

My dad always said, "You catch more flies with honey than vinegar."
(lol, vinegar does work sometimes)

Works for bees too...