Paul's Latest Press Release, Raising Funding

[slinches]

And for anyone that thinks the concept is falling behind the competition, there's still nothing remotely close to the overall cost and efficiency of the Elio.

The only commuter vehicles with a lower 5 yr total cost of ownership have two wheels and are completely unsafe/illegal for highway use and probably have pedals. A used Nissan Leaf is getting somewhat close with a break-even at ~7-10 years with my usage and gas/electric costs

 

[BADBOY]

what happened to the 20 or so Elios that were supposedly built for testing? IIRC around $25,000 was collected for that.

 

[stts]

And for anyone that thinks the concept is falling behind the competition, there's still nothing remotely close to the overall cost and efficiency of the Elio.

The only commuter vehicles with a lower 5 yr total cost of ownership have two wheels and are completely unsafe/illegal for highway use and probably have pedals. A used Nissan Leaf is getting somewhat close with a break-even at ~7-10 years with my usage and gas/electric costs

You bet. This fact alone makes owning this car a no brainer. Once this car hits the streets at these prices, it will start selling itself. There were videos of the car rattling and wheel boot falling off and the reviewer wasnt really phased by it. They were enjoying driving it so much.

 

[stts]

what happened to the 20 or so Elios that were supposedly built for testing? IIRC around $25,000 was collected for that.

They will be built and sold after they get more funding. Mostly they are built slowly as they setup the production jigs and robots. That way they work out what to install and when, to get the assembly line working.

 

[Rob Croson]

what happened to the 20 or so Elios that were supposedly built for testing? IIRC around $25,000 was collected for that.

They got $16M from the Reg A+ stock offering. They used that to build one prototype, then switched from a welded tube frame to a stamped unibody. Then built two more prototypes and several uncompleted frames.

 

[Donnyboy]

I have to think if they can raise $16M from the first stock offering when no one knew who they were, then they should be able to raise $100 million or more if the stock hits the NASDAQ and everyone knows them. Paul and crew ringing the opening bell on NASDAQ and then a quick CNBC interview wouldn't hurt either. If I see that I'll know I better start thinking long and hard about what color I want.

 

[Samalross]

I have to think if they can raise $16M from the first stock offering when no one knew who they were, then they should be able to raise $100 million or more if the stock hits the NASDAQ and everyone knows them. Paul and crew ringing the opening bell on NASDAQ and then a quick CNBC interview wouldn't hurt either. If I see that I'll know I better start thinking long and hard about what color I want.

But ,whoever bought on the first offering lost money. I don't think most will try again.

 

[Donnyboy]

But those were also accredited investors. They typically put money around into many different IPO pots hoping one hits it big. They expect to lose on many of their investments. They might actually add more if they see this leading to production. But since I'm not an accredited investor I could be way off!! Haha.

 

[stts]

They got $16M from the Reg A+ stock offering. They used that to build one prototype, then switched from a welded tube frame to a stamped unibody. Then built two more prototypes and several uncompleted frames.

Yup, when they dumped the tube frame and the plastic body panels, thats when I started giving them a second look. It makes for a stronger car that wont warp in the hot sun. And a hot exhaust wont tend to set a plastic body panel on fire as they squeeze everything to fit. I like how they spent their money so far. Now they need a bunch more like they have always said. But if they do succeed, it will be the cheapest investment in a new car development. Tesla spent many Billions to pump out their first 65,000 cars and is still losing money today. Elio will spend less than a Billion and they wont have near as much debt when all is paid off.

 

[voyager]

Good point, stts. Tesla is -still- losing money. The pre-investing in the automotive industry is just massive. You need to put up a lot of dough before you start making money. Elio himself said that he needed close to a 400 million.