With fuel consumption of 84 miles per gallon, the Elio vehicle could really make an impact on petroleum use as well as usher a paradigm shift among motorists.
Elio also projects that the company’s three-wheel vehicle can eventually reduce total US gas consumption by nearly half a percent. But in order to make that happen, Elio needs to sell 1.2 million vehicles in the first 60 months or five years after its official release to the market, details Autoblog.
It’s a tough projection really coming from a company which has yet to mass produce a vehicle line. But Elio is confident that the company’s currently-evolving Shreveport, LA factory will someday be able to build 250,000 vehicles per year.
Elio said that it’s admittedly a big number but he is confident that his company can. He said that there are only a handful of badges that will do that and that Elio will be capable of doing it because the company is not competing against them. The vehicle is meant for a new market segment.
Where did this ‘windfall’ ($230 Million) of funding come from? NOT from the sale of ‘surplus equipment (so far only $56,778.05 in sales reported); NOT from previous SEC filings (less than 02% of $70 million offered); NOT from CURRENT SEC filing (only $150,000 disclosed)?
Yeah I would like to know where this windfall came from too.
Elio motors is a privately held company and is not required to disclose their financials.
I’m sure it’s tough for an Elio detractor to see some forward progress in the project. After all, when the Elio vehicle is a success, what will you have to complain about?
It’s likely, you’ll find something.
or someone sick of Paul missing EVERY deadline he set, and not falling for another one. Remember in 2013 he said he was not looking for investors and had the funding, but then he didn’t………..looking for funding and loans even though he had enough investors? No, someone sick and tired of him misrepresenting himself.
Elio had applied for a $180 million “Advanced Technology Vehicle Manufacturing” (ATVM) loan through the United States Dept. of Energy. Last I heard, they had passed the first of 3 phases. They may have completed the process and got the loan. :)
The “First Phase”, was just ‘submitting the paperwork request’….. Big Deal! Haven’t heard of the last two “Due Diligence” (proving that they can demonstrate “at least 75mpg”), and “Setting the ‘terms’ of the Loan”….. because, they have not “QUALIFIED” yet!
I just want them to get it up & running before my fifteen year-old Toyota completely dies.
I am also hoping my 19yr old honda holds out long enough as well
Folks, this is a Ponzi scheme. Unlike an Elon Musk who has the funding BEFORE the project ever gets off the ground, this is yet another ‘game-changing” transportation wet dream that will end with a lot of tears and post-mortems. These attempts at revolution nearly 100% of the time come to a sudden and painful end because they are underfunded. Note that the website mentions nothing about the delays – no real news, just press releases. And, pently of opportunity to get All-In with no possibility of a refund to your deposit. My friends, if it smells like pooh-pooh, it probably IS pooh.
Elon Musk has a car company funded solely by the US taxpayer that has never come close to running in the black. He didn’t ask me if I wanted to invest in his $70,000 electric car.
Way to distort things. The only reason Tesla doesn’t operate in the black is they keep spending money on expansion, infrastructure, and future projects.
Truth, optimism and love for a company that is trying to make this country a better place for ALL of us to live is hard for some people to comprehend. Paul Elio is welcome at my table anytime.
What funding did they get? If they got the $240 million they would have shouted it from the rooftops, but I haven’t heard anything from Elio or any other media.
Scott Baldwin what is your relationship to Elio? It obvious you’re cheerleading for them where ever you can- on message boards, FB etc. Since youre so positive about the car coming to market tell us why we should find you credible?