Elio Amazed
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So now it's $376 million.
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Doug McDow
Elio Addict
$400 million should do nicely !
Johnny Acree
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I wonder what it cost EM to apply for the ATVM?
I especially didn't like the 76 week part. That means when they get the first 33M it will still be a year and a half. So that's Dec 2018 at best.
I hope they can beat this time frame.
It also said that this 76-week timetable includes a build of 158 pre-production (S-1) prototypes.
I hope they can beat this time frame.
It also said that this 76-week timetable includes a build of 158 pre-production (S-1) prototypes.
Here. Ill just post the whole part that we care about..
Production Plan
Manufacturing Facility. See “Properties” for a description of the manufacturing facility.
Sourcing. We intend to sole-source components initially from major component suppliers under multi-year supply agreements and develop dual sources of certain components as quickly as practical.
Production Plan. We have developed the facility layout and production plan, based on the significant automotive experience of our manufacturing team. The facility layout has been developed to utilize the existing infrastructure and flexible design of the buildings at the Shreveport facility. Our present launch plan covers a 76-week timetable, which includes a build of 158 pre-production (S-1) prototypes. These prototypes will be built using hard tooling with the majority assembled in Shreveport at our production facility. The additional timeline is also required for the integration in Shreveport for the body shop, paint line and powertrain assembly lines in Shreveport, based on current vendor estimates.
Our previous production plan was estimated at 47 weeks, based on a management theory that timelines are like the gas law and they fill the volume given them. Thus management had taken the nominal timing and subtracted 30 to 60 days from that timing and then push the team to achieve that goal – the result would be minimum time to production, although, it would likely result in a slippage to the start of production date. Upon outside advice, management has revised that philosophy and is now working to a more conservative timeline, thus the reason for the revised timing. The team is investigating methods or techniques to reduce timing. Currently the long lead item for timing is with body assembly tooling and line tryouts at 76 weeks.
Management is committed to making this vehicle available to the public as soon as possible. However, in order to move into production, we require a significant cash inflow to kick-off long lead time production equipment and tooling. The 76-week timetable starts with the date of the next major funding and can only be maintained with continued timely funding. Each funding delay, delays the start of production. We have encountered delays in the past, the majority of which are missed funding milestones. We believe these funding delays were largely a result of the venture capital industry moving away from new vehicle startups and the reluctance of the Federal government’s commitment to the ATVM funding. Fortunately, at present the investing public seems to be very interested in this category in general. As disclosed Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operation – Plan of Operations,” we must raise an estimated $376 million to fund production. Our anticipated production timetable is dependent upon receiving such funding in a timely manner, and delays in obtaining additional funding will delay our production timetable.
Production Plan
Manufacturing Facility. See “Properties” for a description of the manufacturing facility.
Sourcing. We intend to sole-source components initially from major component suppliers under multi-year supply agreements and develop dual sources of certain components as quickly as practical.
Production Plan. We have developed the facility layout and production plan, based on the significant automotive experience of our manufacturing team. The facility layout has been developed to utilize the existing infrastructure and flexible design of the buildings at the Shreveport facility. Our present launch plan covers a 76-week timetable, which includes a build of 158 pre-production (S-1) prototypes. These prototypes will be built using hard tooling with the majority assembled in Shreveport at our production facility. The additional timeline is also required for the integration in Shreveport for the body shop, paint line and powertrain assembly lines in Shreveport, based on current vendor estimates.
Our previous production plan was estimated at 47 weeks, based on a management theory that timelines are like the gas law and they fill the volume given them. Thus management had taken the nominal timing and subtracted 30 to 60 days from that timing and then push the team to achieve that goal – the result would be minimum time to production, although, it would likely result in a slippage to the start of production date. Upon outside advice, management has revised that philosophy and is now working to a more conservative timeline, thus the reason for the revised timing. The team is investigating methods or techniques to reduce timing. Currently the long lead item for timing is with body assembly tooling and line tryouts at 76 weeks.
Management is committed to making this vehicle available to the public as soon as possible. However, in order to move into production, we require a significant cash inflow to kick-off long lead time production equipment and tooling. The 76-week timetable starts with the date of the next major funding and can only be maintained with continued timely funding. Each funding delay, delays the start of production. We have encountered delays in the past, the majority of which are missed funding milestones. We believe these funding delays were largely a result of the venture capital industry moving away from new vehicle startups and the reluctance of the Federal government’s commitment to the ATVM funding. Fortunately, at present the investing public seems to be very interested in this category in general. As disclosed Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operation – Plan of Operations,” we must raise an estimated $376 million to fund production. Our anticipated production timetable is dependent upon receiving such funding in a timely manner, and delays in obtaining additional funding will delay our production timetable.
Elio Amazed
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So... I want my Elio as much as anyone else here does. So I'm only posting this as the messenger...
I don't really have an opinion one way or another. I am curious about how everything has changed again.
From 22 E-Series left to go plus 100 fleet vehicles to now 158 S-Series vehicles. Someone wake me please.
Our good friends at Jalopnik were in need of more clicks and have voiced their opinion again.
http://jalopnik.com/elio-motors-say...ource=jalopnik_facebook&utm_medium=socialflow
I don't really have an opinion one way or another. I am curious about how everything has changed again.
From 22 E-Series left to go plus 100 fleet vehicles to now 158 S-Series vehicles. Someone wake me please.
Our good friends at Jalopnik were in need of more clicks and have voiced their opinion again.
http://jalopnik.com/elio-motors-say...ource=jalopnik_facebook&utm_medium=socialflow
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Doug McDow
Elio Addict
Just bought 200 more shares. I feel better about Elio than I did a year ago! How about you?
Elio Amazed
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- Jun 30, 2014
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Yes, but they're also accumulating 18% on a RACER loan and paying a couple hundred thou on maintenance, insurance, taxes and other costs...
For their reserved part of the plant. And legal. And a supplier's claim against them. The monthly outgo is more than offices and salaries.
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