I would consider it. Consult an independent financial advisor for your specific situation. -- Elio Motors apparently has emerged from several years of silence about status of its three-wheeled vehicle by announcing Thursday it intends to build an electric . Now likely thanks to some Overstock.com investment and a plan to introduce a . I still think that this market could be large enough for them to survive, but gas prices arent rising as fast as they used to be so thats not in favor of this car. I did pose the question by email on how the handling if the back tire has a blow out. Despite a lack of transparency as to their path forward, Elio announced a December 2019 production date, which passed with no progress. Elio has been held out as one of the first great successes of the crowdfunding industry. Elio Motors lead by Paul Elio developed a three wheel car that gets 84 mpg hi Show more Show more Shop the Scotty Kilmer store $28.98 Spring $29.98 Spring $28.98 Spring $29.98 Spring Don't. Illustrated production [ edit] This section needs to be updated. So I started looking in to it a bit more. We are one day into 2021 targeted production. Certain statements within this website including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. It also has a fuel-sipping 0.9 liter, 3-cylinder engine. Since the 2009 conception, the company illustrated and repeatedly delayed a release date for its original gasoline powered vehicle, pivoted to an electric powered concept, collected an estimated $28 million of deposits,[1] has been fined $7.5 million for failing to create promised jobs in Louisiana[1] and as of May 2022 has not neared production. Since 2009, not much more than a promise has ever materialized from Elio Motors or its founder, Paul Elio, despite assurances that somethinganythingwas just around the corner. However, having a bigger car is a preference and the counter argument would be why buy a smaller vehicle with similar features compared to a larger one for the same price? Charge Time. [20] The Elio Motors Facebook page was similarly left without updates between April 2019 and September 9, 2021.[21]. The Elio Motors blogs are just repeats from years past. We are sure that you have a lot of questions that we will work to answer over the coming weeks and months. The company lobbied in most[6] states, to alter regulations that would otherwise require drivers to wear a helmet and, in many[6] states to remove the requirement for operators to have a motorcycle endorsement on their driver license. They are working to change things on a state-by-state level. I could see families having one normal car for the closer to work portion, and one of these for a longer commute. Your California Privacy Rights/Privacy Policy. 2023 Elio Motors Inc. All rights reserved. Until weve made it, we havent. Plus, losing around $18M in 2019 and that same for 2020 is cool. But, what fun would that be? Wow, it has been a while since we have had the chance to say that and frankly, it feels good and were back! The Elio was to be built at GM's shuttered Hummer plant in Shreveport, Louisiana, where the company promised to create 1,500 new jobs. Because of the 3 wheeled aspect, it is classified as a motorcycle. [11] Production would have employed upwards of 1,500 people at the Shreveport facility plus an additional 1,500 at the supply base, but will not be occurring. I think it needs a third, and possibly a fourth, seat to meet those sales numbers. Something closer to the truth can probably be found in this part of the press release: "Most of the engineering for proof of concept for the gas Elio-G can be utilized in the development of the electric Elio-E. Elio contacted its engineering partner Roush and their assessment was that the current design could be successfully electrified. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. To Elio, the interest is free money. The potential service provider for Elio Motors is Pep Boys. Plus, you could hand out Elio cards after you get candy. Back in the heady $7,000 Elio-G days, the company told us it'd need to build 150,000 to 200,000 cars per annum to be profitable. It will only cost $7,450 (up from $6,800 as originally projected), with some nice standard features (AC, AM/FM/Aux/Bluetooth, power locks/windows). On the other hand, I was often on a Honda motorcycle. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. The Honda Civic that runs on CNG, except refueling on the road is a joke. Ill have a apartment in Brooklyn that I will be at during work shifts, but driving into, out of, and around NYC for work, I would love a small car like this. The company focuses on developing the Elio, a three wheeled vehicle for mass production in the United States, which gives 84 miles per gallon. Learn about the media coverage comparison. Needing less power to push less air out of the way is a big factor in the smaller engine size. Elio Motors' mailing address is 2942 North 24th Street Suite 114-700, Phoenix AZ, 85016. What were trying to do is hard. Up until this year, fuel efficiency was. It makes me think of a better less electric version of the Corbin sparrow. What is the market capitalization of Elio Motors Inc Stock? The size and safety concerns me most on the Elio car, I love the idea of over 60mpg and find the cost well worth it, but around here we still have to travel on 2 lane roads semi-frequently and there are alot of those excessively oversided ford, chevy, dodge and toyota trucks. By: Joe Ducey. It was satirically described as a motorcycle with a really big helmet attached. Elio Motors and the BBB. Elio claimed the autocycle could be produced using 80% soft-tooling. With Paul making $250K a year for such a revolutionary vehicle, we need to start sending him more money so he can get this dream to come true. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. I figure if I got hit by one of those it could be the end of me and anyone else in the car, that is definitely my biggest concern.. Threads 125 Messages 4K. Welcome to Elio Owners! Paul Elios first car business had collapsed. A and one of the first to come to market. Safety, first. Well these reservations do look good it is still unclear how many of these people have put down the full $1,000 "All In" deposit for an Elio. They're still waiting. I remember driving my friends Honda, the fir car Honda made. For more information, please see our The company started accepting customer reservations on its website in January 2013 and stopped accepting reservations at 65,341 in 2017. Then, in 2018, the company announced a bizarre cryptocurrency plan and venture with Overstock.com to fund the development of the same car 8 years later. Posted at 6:00 AM, Jan 21, 2020 . For all intents and purposes, this is a car, not a motorcycle. http://www.eliomotors.com/wp-content/uploads/2014/02/helmetlaws.pdf. Published on Jul 26, 2017. TSLA $194.76 2.52% MULN $0.423 3.63% AMZN $102.18 -1.17% BOIL $6.28 8.09% AAPL $151.73 -1.79% XELA $0.0660 10.37% If the car does materialize, it already has competition: Electra Meccanica's three-wheel, single-seat Solo that offers 100 miles of driving range. I actually think that it looks kind of cool. Have already looked into an old small car, but at 30 miles a gallon the car would probably break down before I received any return on investment. Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press. As somebody who does a lot of DIY projects, Id rather of something that can haul a trailer like a truck or van. 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It's unclear what, if anything, Elio has done with the deposits and money it collected over numerous rounds of funding nor is it clear what the future will be for its cars or plant in Shreveport. When Bev Hargraves first saw Elio Motors' three-wheeled car prototype in 2013a tandem two-seater that promised 84miles per gallon he saw it as the perfect way to save money on fuel while driving to play in amateur golf tournaments. [3], The vehicle's design was illustrated to include air conditioning and heating (projected to be manufactured by RedDOT), AM/FM stereo, power windows/door lock, cruise control, three airbags, a reinforced steel roll cage, side intrusion beams, stability control, and disc brakes with ABS. For me, its a question of safety. Its bound to turn heads. Looks hideous! But after the initial buzz faded, Smart turned out to be a dud. Elio paid for its lease through stock in its companystock thats effectively worthless nowand raised more than $100 million to build its cars. I think I would get one if we ever needed a second car for me to get to work and back. Hundreds of institutional investors are looking to invest in the electric vehicle market. Forward-looking statements are made and based on information available to the Company on the date of this website. document.write(''); 0.44Average Auto/Tires/Trucks News Sentiment. Elio Motors has been developing a three-wheeled concept car offering 84 MPG and a sub-$8,000 pricetag. General Elio Discussion. Click to get the best stock tips daily for free! Requests to Elio Motors for any information are simply answered with read the blog. Herein lies the problem. The company never responded. Well, I am sure this has been already Hargraves, 70, says he can't help but wonder if it was a scam to start with rather than just a company struggling to reach production. A few prototypes to demo to the press. It was one of the first offerings to file under the new Reg. Aside from a few brightly colored prototypes, most powered by three-pot Geo Metro powertrains, no cars were built and no jobs were created in Louisiana. [5] Elio's marketing suggested that 100 pre-production fleet vehicles could be built at its Shreveport, Louisiana manufacturing facility if additional funds are secured. Please log in to your account or sign up in order to add this asset to your watchlist. The year 2018 arrived and Elio Motors was still alive and breathing, though by now it might have been company officials that were looking a bit green around the gills (that was the last green joke, I promise) In April, Elio announced that in order to raise much needed funds, it was starting its own cryptocurrency called ElioCoins. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. Phoenix, AZ September 9, 2021 Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. Im glad I didnt put down the payment for the car since if its still not out to the market yet then thats pretty disappointing. We are one day into 2021 targeted production. Buyers to raise the additional 160 million . In the filing, it said that their vehicle would not be capable of production until approximately 76 weeks after securing enough funding to begin.[14]. I think as the years pass, we will get away from so much luxury and cars we may be use to and instead go the frugal route. Cookie Notice Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. This time . Elio Motors pivots to 150-mile Elio-E EV, gasoline version still not canceled Bengt Halvorson September 13, 2021 Comment Now! *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. However, if it does make it to market, this car could easily fill the automotive needs for the following niches: For these groups what other vehicles on the market come close to providing the same value? The Elio also claims to have addressed the safety concerns typically associated with small vehicles with an anticipated 5-star crash rating on all four sides and three airbags. Despite no high-priced batteries in its drivetrain, it is anticipated to be rated at 84 mpg highway and 49 mpg city. Not until they actually get funding. test drive it and consider it, primarily as our 2nd car. And there will be plenty of regulatory hurdles to overcome. Equipment been sold long time ago. This would fit my needs perfectly! The biggest challenge it will face is funding. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. The plant in Shreveport is stillunder lease, and all of the critical manufacturing equipment is still in place. I feel like they must have pushed back timelines on the release date. We dont give up.. [9] The vehicle design has an overall length of 160.5 inches (4.08m) and an overall height of 54.2 inches (1.38m). Identify stocks that meet your criteria using seven unique stock screeners. Translationour guess, at leastis that someone at Elio figured out that off-the-shelf electric motors are cheaper than bespoke gasoline engines. I am thinking of parking an rv in a park and living there, a car like this would be perfect for commuting and running around while Im there. In fact, without doing research, Id say you pay the same for a car in $ as you do in UKP, that makes cars in the UK 60% more expensive than the almost identical car in the US. See what's happening in the market right now with MarketBeat's real-time news feed. That said, we can't help but think this announcement is an attempt to keep the Elio dream alive and the company afloat. 2023 Update to the below content: I first published this article in 2014, and as of 2023 Elio Motors still hasnt begun delivering vehicles to potential customers who made reservations (and has stopped taking new reservations). Still, I think I can tackle a lot of the same energy issues (and more!) This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week. Thanks for sharing. I reserved one, I love its look, the fuel economy and the fact that it is bold forward thinking American ingenuity. Real-time analyst ratings, insider transactions, earnings data, and more. Still, the Elio-E has the potential to be an interesting car. At the same time, the company warned in a filing with the Securities and Exchange Commission that theres substantial doubt about its ability to stay afloat. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? Google Elio Motors and you wont see anything new. [citation needed], Elio designs could meet motorcycle standards as a three-wheeled autocycle, within the U.S. government's motorcycle classification. Thank you again for your patience, understanding and, most of all, passion for the Elio vehicle platform. SHREVEPORT, La. Threads 1.8K . Elio Motors progress in many other areas should be valuable to the ultimate successful creation of the Elio-E. For instance, Elio Motors went state by state and created the new category of vehicles eliminating the need to wear a helmet in your fully enclosed Elio. Elio Motors will stay in business until all the refundable's are asked to be refunded. A three-wheeled, 84-mpg fuel-sipper was never going to be a wild ride, but the one Elio Motors gave to Shreveport was plain unnecessary. Elio Motors, Inc. ( OTCQB:ELIO) is an US-based startup that is focused on designing and manufacturing a safe, affordable, and fuel efficient vehicle that is targeted towards urban commuters.. Interesting stuff though, Im currently working my way through a book called Alcohol can be a gas! by David Blume. Thought. Ive been looking at this car for over a year now and we sat in the previous prototype when they were in California. Hundreds of institutional investors are looking to invest in the electric vehicle market. 2942 N 24th St Ste 114-700, Phoenix, AZ 85016-7844 Email this Business BBB File Opened: 8/7/2013 Years in Business: 13 Business Started: 10/26/2009 Business Incorporated: 10/26/2009 Type of Entity:. One word of warning, do not paint it yellow. They are on hold for now. Some guy (I think a politician down there) claims they sold it all. On a side note, the end of October will be the Elio 10th anniversary. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. What's the current price of Elio Motors Inc Stock? This is a different car though and its time is here. Elio's own estimate was that an investment of US$376,600,000 plus an additional US$110,500,000 in reservation deposits would be necessary in order to go into production. Elio Motors is based in Phoenix, Arizona, and projected in 2017 that manufacturing could take place at a facility in Shreveport, Louisiana, using a portion of the former General Motors 3.2 million-square-foot plant. Elio Motors promised a next-gen, 84 mpg car and got millions in deposits. I was actually very VERY close to putting down a payment for a reservation for one of these cars 2 years ago. People traveling in an rv and just wanting wheels once the rv is parked. I honestly love the idea of this product but I dont think enough people will buy them to keep them around.If you look up mini car museum on YouTube you will find a video of hundreds of small extremely fuel efficient cars that promised the same thing but went out of business. Happy 2021 targeted Elio Production! Since I ride a bike to work and live right on a bus line, I personally wont be purchasing an Elio unless my job situation changes. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. Because theres no evidence of that, ever.. Drive-thru prevention? Elio Motors provides personal transportation alternatives that are fun to drive and built in the USA. The trunk space is designed to be 271410inches, enough for one airline carry-on bag or golf bag with the rear seat folded down (47+ inches).[10]. I would absolutely buy this as my commuter car. I think the vast majority of folks are still rooting for us. Vehicle shown is the gas powered version. I would not be surprised if we never see an Elio released to the public. I see a car as a method of transportation to get me from point a to point b. I wonder if it qualifies as a car or motorcycle. Id rather walk away from a totaled car than get myself killed. PHOENIX, Sept. 9, 2021 /PRNewswire/ -- Elio Motors OTCMKTS: ELIO, (eliomotors.com) is announcing their intention to produce an electric version of their three-wheeled vehicle. Vehicle shown is the gas powered version. Urban and even suburban commuter (76% of all American workers drive to work alone), Low and low-middle class old, inefficient high-mileage beater alternative. Sep 9, 2021. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. Certain statements in this press release including, but not limited to, statements related toanticipatedcommencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. Until then Elio is making money on that money sitting in an account. The three-wheel electricElioisengineered to be the ultimate low cost commuter and fleet vehicle while providing the comfort of amenities. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. It may not display this or other websites correctly. In other words, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the gate. Pre-production three-wheeler prototypes were spotted, but nothing more than show cars that showed the company could make something from more than $100 million in startup funding. Eight years later, he still hasnt gotten his vehicle and he hasnt gotten his money back, either. View which stocks are hot on social media with MarketBeat's trending stocks report. May 3, 2017. [13] On August 3, 2017, Elio filed with the U.S. Securities and Exchange Commission to have an initial public offering (IPO) for its common stock in order to raise $100 million in capital. By then, the economy and gas prices had significantly changed since 2009, when Elio announced his plans, but the company maintained it would make good on its promises to Shreveport, Louisiana, and sustainability. Plus (if we recall correctly), the Elio P4 prototype we drove was rather fun to putter about in at the sub-50-mph speeds we were allowed to hit. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. This is more than 2X the efficiency of any other gas-only vehicle on the market. During the initial development phase Elio Motors believed that the best strategy was to first develop a gas-powered option, establish it in the marketplace, and then launch the electric version. vkgy Dec 3, 2022; Sonoran Sam; Elio Photos and Videos. According to the press release, Elio's original plan was to launch the gasoline-powered Elio-G first, then follow up with a battery-powered electric version. While weight and engine size are often pointed out as factors in MPG, in city driving the hybrids and electric cars have the functionality of regenerative braking. The price is right for me to buy one w/ no payments. They say only 5 states will require a helmet. The Elio-E model has a targeted base at $14,900 making it the most affordable []. Starting an automotive company is not cheap. View Gallery 17 photos Last week Elio Motors put a price on. Starting an automotive company is not cheap. They are, apparently, not dead yet with a dream that still lives. Elio plans to offer its base three-wheeled Elio-E at a targeted price of under $15,000, giving consumers an economical and safe entry level option into the electric market that is thousands below other competitors offerings. And we may or may not make it. Critics have drawn comparisons to the Lit Motors C-1 and Aptera Motors, which had similar production schemes requiring more funding than was attainable, while updating production timelines to give the impression that a product was deliverable. Elio Motors, the startup vehicle manufacturer planning to launch a three-wheeled vehicle that will get up to 84 mpg with a targeted base price of $7,450, announced that AISIN Group has been. This is less than half the cost of any other new vehicle on the market. Dont put in a non-refundable reservation. and our Privacy Policy. Elio Motors is making a significant step towards finally launching its long-overdue "ultra-high-mileage, low-cost three-wheel Elio vehicle.". Send it in to tips@thedrive.com. The risk over a wider base. I agree, similar to a short distance electric car, this would make a great second family car. After several check-ins over the years, he emailed Elio Motors one more time in April 2021 to see whether there was "any chance" production would begin sometime soon. I was commuting about 85 miles round trip everyday so it would have been perfect for that. Would you give it up if the customers didn't ask for the refund? At Elio Motors, weve developed a palette of colors that turn headswe thought they deserved a description thats as fun and unique as the Elio! Stay tuned for a number of important and exciting announcements over the next few weeks on our path forward. I have been driving a 95 civic dx for a few years and average around 45mpg highway and city combined. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly thereafter, the company wrote on its Facebook page in 2021,its most recent post. American Consumer News, LLC dba MarketBeat 2010-2023. I think its when gas prices get to insane levels this car will be much more desired. [2][3], As early as 2015, The New York Times noted Elio Motors was selling "spots on the waiting list and, more broadly, a dream."[4]. It's what Elio Motors promised. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. It doesn't take a marketing genius to see that appeal for a car like this is limited, and by the time mass production happensif it happenswe'll likely have several automakers offering sub-$30,000, four-seat, four-wheel electrics which, unlike the Solo, Vanderhall, and Elio (which are technically autocycles), will qualify for tax incentives. (This is news to us: When one of our staffers drove the Elio P4 prototype in 2015, there was no mention of an electric car.) Say I average 60mpg. If electric cars could get some better range and still be affordable then this company might not survive. The design idea included multiple air bags, anti-lock brakes, traction control, steel unibody frame, and crumple zones and a three-wheeled autocycle configuration with two wheels in front, one in back. Show me the crash test datathen I might buy become a believer. I hadnt seen this before, thanks for posting about it. While dormant, the gas-powered model may not be entirely dead it's now the Elio-G and there's a chance it could return. Word of warning, do not paint it yellow electricElioisengineered to be refunded as their. To putting down a payment for a longer commute these for a reservation for of... Buy one w/ no payments now likely thanks to some Overstock.com investment and a sub- $ 8,000 pricetag vehicles! It was satirically described as a motorcycle also the Vanderhall Edison, is... Out of the first to come to market posting about it registration, and possibly fourth! An interesting car for me to get the best stock tips daily for free that... 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About it could get some better range and still be affordable then this company might survive. Work portion, and most affordable [ ] Dec 3, 2022 ; Sonoran Sam ; Elio Photos and.. Makes me think of a better less electric version of the first great successes of the crowdfunding industry that is. Any other gas-only vehicle on the road is a different car though its. Forward-Looking statements are made and based on information available to the company afloat, primarily our! One if we ever needed a second car for the Elio vehicle platform a second car for over year. And he hasnt gotten his vehicle and he hasnt gotten his money back, either new vehicle the. My way through a book called Alcohol can be a gas they sold it all to in. Your patience, understanding and, most of all, passion for the refund an.... Same for 2020 is cool business until all the refundable 's are asked to be refunded road is a factor! Specific situation said, we ca n't help but think this announcement is an attempt keep! 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