I have to admit beats the pants off the Mirage and with that savings you could rent a car/get a ZipCar membership for the times you need more capacity. Plus, losing around $18M in 2019 and that same for 2020 is cool. We are one day into 2021 targeted production. ELIO News Today | Why did Elio Motors stock go up today? As Smart showed, you dont have to be big to be safe. Starting an automotive company is not cheap. If you want to market and actually sell a car that requires consumers to sacrifice utility, you better offer both of the following: Unfortunately, Smart was not really successful with either. Forward-looking statements are made and based on information available to the Company on the date of this press release. It may not display this or other websites correctly. I would imagine black would be a color. This has not happened on the time frame we thought. Sure, you might know them as Blue, White, Red, Silver, Green, Black, and Orange. 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. 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. As of June 2017, basic test mules and three validation vehicles (codenamed: E1-A, E1-C, and E1-D) were built to test safety, aerodynamics, and durability. Elio even came up with an innovative financing scheme, effectively a secured credit card with the car as collateral. 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 2021 T-Rex RR, which is powered by a Kawasaki-sourced DOHC 1.4-liter inline-four making 208 horsepower and 117 pound-feet of torque, starts at $65,999. I am sure I would get some looks but with that kind of MPG and price I would definitely purchase it. 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. Elio promised a hard-hit Louisiana city 1,500 new auto jobs. That an automotive startup flounders isnt especially remarkable. For a better experience, please enable JavaScript in your browser before proceeding. It really is hard. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. It does this by being extremely lightweight through using half the materials of a normal car and smartly using tandem style 2-person seating to streamline aerodynamics (vs. the standard side-to-side). Lets hope not, and just let we the people have something for us for a change. View which stocks are hot on social media with MarketBeat's trending stocks report. Can't wait for the Elio-E to come out in 2023. Threads 125 Messages 4K. It uses front-wheel drive, so it won't suffer from the rear-motor Solo's annoying tendency to jack its rear end up every time you hit the accelerator. Hello my name is Joe and I'm very passionate about cars. Autocycle startup Elio Motors has been promising production of its three-wheeler would start since 2012, and that it would be built in Shreveport, Louisiana. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. Get updates now! It makes me think of a better less electric version of the Corbin sparrow. The Cost of Manual Transmission vs. Automatic Transmission: Is it Worth it? For our family of three we need two cars that each seat 3 people so my husband can drop the little one off at daycare, I can pick her up, and we can all go out to the grocery store together. Getting fined in 2017 for unlicensed sales, Elio consistently failed to provide details on its plan to do much more than sell off tooling in the GM plant it occupied. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. by using 100% ethanol fuel. My goal with this car, would not have been something stylish, so the looks of this wouldnt entirely throw me off. Minimalist hipster haha Id most def. It was satirically described as a motorcycle with a really big helmet attached. Sign up to receive the latest news and ratings for ELIO and its competitors with MarketBeat's FREE daily newsletter. Buyers to raise the additional 160 million First blaming the economy, then blaming lower gas prices, then blaming the consistently expensive business of building cars, Elio pushed back production of its cars from 2015 to 2017 and said it needed to raise more than $300 million for production. 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. Could speed up the funding and spread Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. They are on hold for now. 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. The other thing that knocks things off my list is the safety. 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. Happy 2021 targeted Elio Production! 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. Elio attempted to raise $25 million and raised $17 million. For more information, please see our Hundreds of institutional investors are looking to invest in the electric vehicle market. Still, I think I can tackle a lot of the same energy issues (and more!) 171 miles. It is also a much more visible item for other drivers to see. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. Learn about the media coverage comparison. To Elio, the interest is free money. Nash Motors Company was an American automobile manufacturer based in Kenosha, Wisconsin from 1916 until 1937. We never quit working to make this dream happen,said Paul Elio, CEO of Elio Motors,The market has changed, and investors and consumers are looking for innovative, environmentally conscious, low cost electric vehicles, and we have a great option that will appeal to a very large under-served market. Dont put in a non-refundable reservation. Translationour guess, at leastis that someone at Elio figured out that off-the-shelf electric motors are cheaper than bespoke gasoline engines. Our email, tellmemore@eliomotors.com, is available for your questions, which we will gather and share as we move forward. Get short term trading ideas from the MarketBeat Idea Engine. For all intents and purposes, this is a car, not a motorcycle. 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. In other words, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the gate. A highway accident can make me a statistic. The companys website officially 404s now, long after its cars effectively did the same. Export data to Excel for your own analysis. It's what Elio Motors promised. Answer: I have a friend who put down $1000 several months (maybe a year) ago. It would be a shame to need a motorcycle license to drive it but most 3 wheel vehicles in states I am familiar with require a motorcycle license. I dont see a city estimate for MPG. Does that mean that Elio Motors is not Vaporware? Simply because a new idea is presented doesnt mean its a good one, and Smart is making a smaller car for about the same amount of money as a bigger one with about the same fuel economy. Several days later, Elio Motors responded and rejected his request for a refund. 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? 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. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. Residing in MO the helmet law question still got me on the side line. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. And there will be plenty of regulatory hurdles to overcome. Is the Elio-E really going to happen, or is the announcement just an attempt to prop up a failing startup? An attached stock option to the first Regenerative breaking would help any cars fuel economy, not just electric. The result? Even though the E1-C is not used for testing, it was the most up-to-date interior with a cosmetically-evolved engine. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. 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. Crypto Asset Services Menu net sequestration of CO2 looking at cradle to grave Only thing that competes price and gas wise would be a motorcycle. I drive for a living and this would be good for high mileage workers. Called Liquid Solar it has some interesting ramifications including: Its 34 city and 38 highway fuel efficiency is good, but not for its size. Is Stellantis Stock a Value Investors Dream? clarinet, bassoon duet. Elio's stock pricewhich leaped as high as $50 shortly after its 2016 IPO, and spent most of 2021 falling from just over a dollar to a low of $0.30did see a brief jump to $1.10 on the Elio-E announcement. http://insideevs.com/monthly-plug-in-sales-scorecard/. These statements involve risks and uncertainties, which are described in more detail in the Companys periodic reports filed with the Securities and Exchange Commission, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Free Stock Analysis Report: See the Right Way to Analyze Stocks, The Best Strategy For Your Small Trading Account, The One Ticker Retirement Plan Over the Shoulder Demo Now Available. Back in 2015 or thereabouts, the Arizona-based startup hit the auto show circuit with a two-seat three-wheel commuter car that it claimed would sell for just $6,800 (later increased to $7,450) and return 84 mpg. Still, the Elio-E has the potential to be an interesting car. Threads 1.8K Messages 95K. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. Elio Motors, Inc., a development stage company, designs, develops, manufactures, and sells automobiles. This is a different car though and its time is here. Made in USA Elio Addict Jun 14, 2021 #6 Elio Motors will stay in business until all the refundable's are asked to be refunded. 40 talking about this. greater longevity of engine life due to cleaner fuel It costs more to grow, harvest, and process the corn than it would cost if you simply burned the oil in your car! You see, every now and then a tiny car will come along that promises to revolutionize the way we get around and dramatically slice transportation costs and environmental impact. I think I would get one if we ever needed a second car for me to get to work and back. Elio Motors and the BBB. They say only 5 states will require a helmet. If electric cars could get some better range and still be affordable then this company might not survive. I can see the financial benefits but the sacrifice in style is not worth it in my opinion. . The production date is currently estimated to be next year, 2018, but many potential Elio owners are skeptical that the day will ever comeespecially as news keeps trickling out about Elio. I would buy if I needed low volume cargo work. 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. In early September 2021, the Phoenix-based company broke its silence by announcing it was pivoting to a $15,000 electric version of its car. As somebody who does a lot of DIY projects, Id rather of something that can haul a trailer like a truck or van. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. I would consider it. The announcement is based on the change in consumer demand and finance markets new appetite for electric vehicles. That said, we can't help but think this announcement is an attempt to keep the Elio dream alive and the company afloat. After a half-decade of fits and starts, E-M has actually delivered a few cars to customers. (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.) You are using an out of date browser. Support: 888-992-3836 Home NewsWire Subscriptions. It had a clever name, distinct look, good fuel efficiency, and a low cost. 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. If its website is any indication, any connection the rest of the world had to Elio Motors has now timed out. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Join today, registration is easy! http://en.m.wikipedia.org/wiki/Myers_Motors_NmG. I do think its a great idea what Elio is doing, and its justifiable purchase compared to a Smart. It used to be 'about $6,800,' so we can agree to disagree if it's really an increase. The official website for the company is www.eliomotors.com. Quite literally, youre paying the same price for less than half the car when you buy a Smart. Mark your calendar and go out as an Elio for Halloween (don't forget the Starbucks Venti Coffee). 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. They are working to change things on a state-by-state level. They would drive it to cities all over America and try to get locals to support it but it was just a scam to get citizens money. That predictably failed, and in 2021 the last gasp from Elio came by way of an electric version of its car, called the Elio-E, and more promises of production. However, after waiting for almost a decade, a lot of people have now started asking some serious questions about both the vehicle and the manufacturer. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. 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 claimed the autocycle could be produced using 80% soft-tooling. The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. I think the vast majority of folks are still rooting for us. Get daily stock ideas from top-performing Wall Street analysts. But Paul Elio, founder and CEO of Elio Motors, said in an interview with USA TODAY thathe believes the company can still succeed. As previously noted, there is no rebel billionaire here - Elio has had to bootstrap its funding the hard way. My enthusiasm is genuine and I am definitely not alone the Elio already has 65,000 paid reservations. On the other hand, I was often on a Honda motorcycle. Elio Motors announces plan to go electric, but Valley company could still face a rocky road ahead, Please Consider Not Giving Any More Money to Elio Motors, Elio Motors announces its intent to produce an electric version of its popular vehicle, $2.6+ Billion Electric Trike Global Market to 2026 - Featuring Arcimoto, BRP and Elio Motors Among Others, Lordstown Motors Probably Won't Be The Last New Automaker To Head Toward Doom, Nikola's Slow-Motion Collapse Continues Apace, 'The Lady And The Dale' Is A Good Reminder Huckster Automakers Will Always Be With Us, Electric Trike Market 2020 Share, Potential Growth, Industry Size, Demand and Analysis of Key Players and Forecast to 2025, The next Tesla? But just recently, the website became active again with a new announcement: The Elio will be reborn as an electric vehicle known as the Elio-E. Target price: $14,900. We will gather and share as we move forward not, and Orange 424-7472 via... 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