New Elio email

[RSchneider]

Glad you’re still kickin around Schneider. I suspect you and Made in USA are probably pretty much spot on….

Since my wife had her stroke, I've been taking care of her (which she is doing much better) and we have been traveling in the RV.

 

[chrisman183]

wow I can't believe this site is still up LOL. I almost forgot I had an account. But yes it is very coincidental timing with the email. I assume the deadline for stock closure forced them to send the email. I would rather be left in the dark at this point than to have my hopes brought back up again and go through all that. I wanted a gas car, EV not so much but I do understand the decision. I assume they are trying to secure private investors/government funding and not relying on the common folk reservations this time, because I see almost ZERO support from spot-in-line holders and people who almost got in line. I'm not sure anymore. It almost feels like a scam at this point, but I always thought it was for real, so it's tough. I don't think we'll have to wait long, as the email suggests, so that's good. Here's to Elio making it.

 

[Capes]

This came across my news feed this morning while camping. To answer the original question, I agree with Made in USA. In addition to what he said, the email was sent out because they had the database and in addition to that they were hoping that reservations holders would buy up some stock while certain others sell theirs and make a quick buck. As we all read from the SEC filings, Paul has drawn a salary of $250K/year from 2017 to 2020. Thus made $1M in four years. Looks like Connie mage just over $500K in three years. I don't know about you guys but $250K per year is a nice salary. Especially for running a company that only produces press releases but not a tangible product.

They must have lost some of their "data", because I can't log into my account and see my two deposits....Capes
Or, their Server is swamped with emails?

 

[Jelio]

This isn't an opinion that you can choose to "disagree" on. It's scientific fact.

For instance, a Tesla Model 3 powered by a clean grid like California produces the same amount of pollution per mile as a gas car that gets 110 miles per gallon. On a dirty grid like West Virginia, the pollution caused by that same Tesla would be equal to a gas car that gets 85 miles per gallon.

again you missed his point....

 

[JohnJ]

I don't know about you, but the more I think about that email from Elio, the more sure I am they are screwing with us. They have an ulterior motive and it isn't for our benefit.

 

[Sethodine]

again you missed his point....

No, I didn't.

Yes, the fuel source that produces the electricity is often dirty. But it's still less dirty than what exits the tailpipe of a gasoline car.

That's because internal combustion engines are very inefficient at producing useful power. They are always shifting in and out of their ideal RPM range, have several mechanical losses along the drivetrain, and they make all kinds of sacrifices to efficiency in order to reduce weight.

Power produced at a stationary power plant is much more efficient because it always runs at peak efficiency, has fewer mechanical losses than a car drivetrain, and has efficiencies of scale. Then it's delivered along high voltage power lines with almost zero loss, and from there charges an electric car with very little loss, and from there powers the traction motor with very little loss.

So when comparing grid-powered electric cars to gasoline cars, the dirtiness of the grid is irrelevant. No matter where the power is coming from, it's less dirty per mile driven than the ICE car.

Now, actual manufacture of the battery is another issue. It takes on average 5 years for the efficiency of the electric car to overcome the amount of pollution created by its manufacture. But cars are on the road for an average of 12 years, so over their lifetime they are still far less polluting than gas cars are at the tailpipe.

If someone wants to hate EVs, then they can go ahead and hate EVs. But claiming that they are dirtier than ICE cars is just not supported by the numbers.

 

[Juney]

What good would electric do me with it's 200 mile range when my place that I go to is 250 miles from start one way in the mountains? Am I to push it the last 50 miles or stop along the way for hours to charge? And I paid for this? No! I want the original promise!

 

[BaldGuy]

What good would electric do me with it's 200 mile range when my place that I go to is 250 miles from start one way in the mountains? Am I to push it the last 50 miles or stop along the way for hours to charge? And I paid for this? No! I want the original promise!

Seems so many must have missed the gas powered link on the far right of the page. It reads 'Elio G'. The G stands for gas.
The fact that link is there and the original gas site is there, tells me, that they will make both.

 

[Elio Amazed]

Basically any working person should have at least $1500 in tax liability. This would include what you pay in taxes from taxed retirement distributions.
If the combined amount that you pay in paycheck withholding (or other taxes) is greater than $1500, then you would get the full credit back if you bought an Elio-E that year.

When buying EVs, people will often draw out of retirement accounts in order to incur a tax liability, so that they can get it all back when they claim the tax credit from the car.

GTSY Seth, but what parts of "Some" and 'We don't show enough income to make a dime of discount per "tax credit".' didn't you get?

You said, "When buying EVs, people will often draw out of retirement accounts in order to incur a tax liability, so that they can get it all back when they claim the tax credit from the car." That makes absolutely no sense. That's like saying, "Hey government, I'm going to give you money for no reason, just so you can give it back to me at the end of the year." They've saved nothing. Read what you typed again. Most people doing that are going to be zero dollars to the good after it's all tallied out. For a significant number, there is absolutely no benefit over paying full price with no tax credit. If many of those people were to wait to withdraw that money until they were of the age where they would have no early withdrawal penalties and they just had SS and retirement distributions, they would end up dead even compared to creating an unnecessary tax liability for no other purpose than to say they got it back.

You also said, "And unlike the car EV credit, this one is low enough that basically any working individual would qualify for the entire credit." Evidently you haven't worked a job that pays anywhere near minimum wage for a while.

 

[Sethodine]

GTSY Seth, but what parts of "Some" and 'We don't show enough income to make a dime of discount per "tax credit".' didn't you get?

You said, "When buying EVs, people will often draw out of retirement accounts in order to incur a tax liability, so that they can get it all back when they claim the tax credit from the car." That makes absolutely no sense. That's like saying, "Hey government, I'm going to give you money for no reason, just so you can give it back to me at the end of the year." They've saved nothing. Read what you typed again. Most people doing that are going to be zero dollars to the good after it's all tallied out. For a significant number, there is absolutely no benefit over paying full price with no tax credit. If many of those people were to wait to withdraw that money until they were of the age where they would have no early withdrawal penalties and they just had SS and retirement distributions, they would end up dead even compared to creating an unnecessary tax liability for no other purpose than to say they got it back.

You also said, "And unlike the car EV credit, this one is low enough that basically any working individual would qualify for the entire credit." Evidently you haven't worked a job that pays anywhere near minimum wage for a while

If you are only making federal minimum wage, than why would you be buying a new car or motorcycle? Let alone an electric one? Part and parcel to this conversation is "who are buying new vehicles?"

But minimum wage here is $15/hr, or about $35k/yr. At that rate, a $1500 tax credit would basically wipe out your tax liability for the entire year, so you'd get back everything you paid out in withholding throughout the year.

The point of drawing out a retirement account to incur a tax liability, is that the end result is you get those retirement funds tax-free because the EV credit wiped out the liability. When buying an EV, if the credit is greater than your liability then you lose out on the difference. So might as well take some advantage of that and get some tax-free cash out of an otherwise taxed account.