Send Email To Dop To Show Support For Elio Motors Loan.

[goofyone]

I expect Elio Motors is fully aware of the potential timetable for the loan and have calculated this into their plans. From the prior information we have seen they expect it to take 4-6 months to get the plant operational once they get moving on that which means that even if the loan is approved in the 2nd quarter of next year EM could still be in production before the end of the year. We also know that some preliminary work has been done at the plant as they have told us that, along with moving excess equipment to sell, a complete evaluation on the equipment has occurred and some equipment in the plant is being moved in preparation for production.

I would be surprised if EM also did not have various contingency plans. I am sure they have discussed various scenarios such as what to do if the loan is denied, what they will do if the loan amount approved is for only say 1/2 of what they need, or if the loan process drags on for a long time and they need to keep things moving forward.

 

[jetpack54]

Here's another transcript I found in Facebook regarding the ATVM loan.
Question to EM - How is funding coming?
EM's reply - "We are extremely please with our FINANCIAL standing, and we've cleared one of three hurtles of the ATVM loan to help us accelerate bringing ELIO to the market."
So again, I can only assume that when EM said they can still PROCEED with the production even if the ATVM loan is not approved only means they have the financial backing/fund/money to bring this to fruition. It could also mean that yet another delay is forthcoming if they don't get the ATVM loan but they can still do it at a later date/year.
Now everybody's just assuming at this point so let's all save our breath on this one and just HOPE, yes, that's the only right word to use at this time, that this ATVM loan is approved so I can get my ELIO next year 2015!

 

[LockMD]

Here's another transcript I found in Facebook regarding the ATVM loan.
Question to EM - How is funding coming?
EM's reply - "We are extremely please with our FINANCIAL standing, and we've cleared one of three hurtles of the ATVM loan to help us accelerate bringing ELIO to the market."

I keep seeing that word "accelerate" pop up.......

News at SEMA we will begin production in March 2015 Yes that is my dream.

 

[tonyspumoni]

I disagree with none of this. All the points are true. However we are speaking of this three-step process as if this were strictly a question of the height of the hurdles and not also the distance between them. The first may be tallest but the others are DOE's to jump over. What if there are five levels of approval ("Just a formality Elio Motors, don't worry") and, with the holidays, the level 3 person is on vacation? Elio Motors has a refreshing damn-the-torpedoes-full-steam-ahead attitude to problem solving. Why is the vibe here that DOE will be similarly motivated? DOE doesn't get a cut - they get 4% APR. Where the win is for DOE? Their win is to get paid back, not to make the loan.

Furthermore, if you read Moniz's recent Silicon Valley interview he said that DOE wants to multiply their power to drive innovation by forming equity partnerships with private investors with DOE kicking in money and private equity matching it or kicking in too. Practical details? None offered. What if DOE is doing that here and, despite the attractive nature of ATVM the hitch is that to get all the money EM has asked for, they need to offer an equity stake to that DOE private equity partner? DOE sounds very much like they are making up the rules as they go along here in so many ways. Where in government do we ever see this yield fast results? Everyone carps about the government, which has made its administrators terrified of risk lest they be hounded out.

The bottom line is that DOE is just too much of an unknown, unpredictable quantity around which to wrap a very tight production schedule. If it transpires that ATVM success and The Plan are one, then the Elio is highly unlikely to roll of the lines by fall of next year. Sorry to be a downer, but unfortunate and unpopular though this view may be, it is likely to be true. They need money and they need it now. ATVM does not have 'now' in it.

 

[eddie66]

I disagree with none of this. All the points are true. However we are speaking of this three-step process as if this were strictly a question of the height of the hurdles and not also the distance between them. The first may be tallest but the others are DOE's to jump over. What if there are five levels of approval ("Just a formality Elio Motors, don't worry") and, with the holidays, the level 3 person is on vacation? Elio Motors has a refreshing damn-the-torpedoes-full-steam-ahead attitude to problem solving. Why is the vibe here that DOE will be similarly motivated? DOE doesn't get a cut - they get 4% APR. Where the win is for DOE? Their win is to get paid back, not to make the loan.

Furthermore, if you read Moniz's recent Silicon Valley interview he said that DOE wants to multiply their power to drive innovation by forming equity partnerships with private investors with DOE kicking in money and private equity matching it or kicking in too. Practical details? None offered. What if DOE is doing that here and, despite the attractive nature of ATVM the hitch is that to get all the money EM has asked for, they need to offer an equity stake to that DOE private equity partner? DOE sounds very much like they are making up the rules as they go along here in so many ways. Where in government do we ever see this yield fast results? Everyone carps about the government, which has made its administrators terrified of risk lest they be hounded out.

The bottom line is that DOE is just too much of an unknown, unpredictable quantity around which to wrap a very tight production schedule. If it transpires that ATVM success and The Plan are one, then the Elio is highly unlikely to roll of the lines by fall of next year. Sorry to be a downer, but unfortunate and unpopular though this view may be, it is likely to be true. They need money and they need it now. ATVM does not have 'now' in it.

It really doesn't matter. If they had the money today,tomorrow, or next month. They are not ready to start production. Engine still not ready. Body still not ready. Laws still need to be changed. It is my humble opinion things will fall into place in the order they need to, and there are no shortcuts. Patients will prevail.

 

[Jay3wheel]

I disagree with none of this. All the points are true. However we are speaking of this three-step process as if this were strictly a question of the height of the hurdles and not also the distance between them. The first may be tallest but the others are DOE's to jump over. What if there are five levels of approval ("Just a formality Elio Motors, don't worry") and, with the holidays, the level 3 person is on vacation? Elio Motors has a refreshing damn-the-torpedoes-full-steam-ahead attitude to problem solving. Why is the vibe here that DOE will be similarly motivated? DOE doesn't get a cut - they get 4% APR. Where the win is for DOE? Their win is to get paid back, not to make the loan.

Furthermore, if you read Moniz's recent Silicon Valley interview he said that DOE wants to multiply their power to drive innovation by forming equity partnerships with private investors with DOE kicking in money and private equity matching it or kicking in too. Practical details? None offered. What if DOE is doing that here and, despite the attractive nature of ATVM the hitch is that to get all the money EM has asked for, they need to offer an equity stake to that DOE private equity partner? DOE sounds very much like they are making up the rules as they go along here in so many ways. Where in government do we ever see this yield fast results? Everyone carps about the government, which has made its administrators terrified of risk lest they be hounded out.

The bottom line is that DOE is just too much of an unknown, unpredictable quantity around which to wrap a very tight production schedule. If it transpires that ATVM success and The Plan are one, then the Elio is highly unlikely to roll of the lines by fall of next year. Sorry to be a downer, but unfortunate and unpopular though this view may be, it is likely to be true. They need money and they need it now. ATVM does not have 'now' in it.

This is so full of holes it is hardly worthy of response. But, if offers you a chance to rain on peoples parade.

The DOE doesn't get any wins, the administration gets wins and loses. DOE is a standing department, which doesn't earn interest like a private business. The 4% interest goes back to the Gov't as a whole not back for reuse by DOE. They were funded with $25 billion and given instructions as to how to use it.
You make a supposition that there are more levels to approval than are stated (bases on opinion I suppose), sure the DOE moves at the pace of a Govt. agency, it is one. Sure people take vacations and there is not motivation for them to hurry, but there is no reason to thwart the process either. The gears of the DOE will grind at their own pace. The due diligence portions is a (relatively) simple process, the lawyers and accountants review the forms that have been filed to check that what has been stated on the forms is accurate and complete. These people do this sort of thing for a living, it is not a new or special thing for them. The loan in terms of Govt. dollars is actually quite small. This loan would barely by an airplane for the Air Force or Navy.

It would be nice if they were motivated like a private company, but to make statements in your post that 'is likely to be true' and then use if to dismiss the ATMV process as not viable for Elio's time frame is to say that the Executives at Elio are uninformed. They are better informed and seemingly not as distressed as you.

We all (well most of us) want the process to fly along. But to throw this against the wall to see what sticks, is just your opinions stated as facts.
On what do you base the question; "What if there are five levels of approval ("Just a formality Elio Motors, don't worry") and, with the holidays, the level 3 person is on vacation? The key words here are What if well what if there is double secret probation? What if? What if?

Sorry to all, but this just twisted my britches!

It is easy to poke holes in any balloon, but at least use facts not opinions to do it.

 

[jetpack54]

It really doesn't matter. If they had the money today,tomorrow, or next month. They are not ready to start production. Engine still not ready. Body still not ready. Laws still need to be changed. It is my humble opinion things will fall into place in the order they need to, and there are no shortcuts. Patients will prevail.

That's the way I look at it too! It's all pretty much assumptions at this point so why worry about it? If DOE is too much of an unknown as tonyspumoni clearly portrayed it- how does anyone know which way they'll go? Like Z says, just enjoy the ride fellas!

 

[jetpack54]

This is so full of holes it is hardly worthy of response. But, if offers you a chance to rain on peoples parade.

The DOE doesn't get any wins, the administration gets wins and loses. DOE is a standing department, which doesn't earn interest like a private business. The 4% interest goes back to the Gov't as a whole not back for reuse by DOE. They were funded with $25 billion and given instructions as to how to use it.
You make a supposition that there are more levels to approval than are stated (bases on opinion I suppose), sure the DOE moves at the pace of a Govt. agency, it is one. Sure people take vacations and there is not motivation for them to hurry, but there is no reason to thwart the process either. The gears of the DOE will grind at their own pace. The due diligence portions is a (relatively) simple process, the lawyers and accountants review the forms that have been filed to check that what has been stated on the forms is accurate and complete. These people do this sort of thing for a living, it is not a new or special thing for them. The loan in terms of Govt. dollars is actually quite small. This loan would barely by an airplane for the Air Force or Navy.

It would be nice if they were motivated like a private company, but to make statements in your post that 'is likely to be true' and then use if to dismiss the ATMV process as not viable for Elio's time frame is to say that the Executives at Elio are uninformed. They are better informed and seemingly not as distressed as you.

We all (well most of us) want the process to fly along. But to throw this against the wall to see what sticks, is just your opinions stated as facts.
On what do you base the question; "What if there are five levels of approval ("Just a formality Elio Motors, don't worry") and, with the holidays, the level 3 person is on vacation? The key words here are What if well what if there is double secret probation? What if? What if?

Sorry to all, but this just twisted my britches!

It is easy to poke holes in any balloon, but at least use facts not opinions to do it.

Bingo!

 

[Jay3wheel]

I can't see it.

 

[Elio Amazed]

To once and for all clear long standing confusion on one aspect of the loan requirements:
"The applicant must be financially viable without the receipt of additional federal funding for the proposed project other than the atvmlp loan."
http://energy.gov/sites/prod/files/2014/03/f14/applicantguidance.pdf