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#4605078 - 12/16/17 04:07 AM Say adios to your Elio reservation
OneEyeJack Offline


Registered: 09/14/10
Posts: 7479
Loc: S California
Just browsed through Elio Motors K1 filing.

$144M in debt and a claim that $376M is needed to start production. And if that's not good enough they are being fined for not having a manufacturer's license and not creating the jobs promised to the state of Louisana and that could eventually exceed $8M when the smoke clears.

Great concept, better price and all the right stuff in the car, just no car for sale to the public.

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#4605113 - 12/16/17 07:12 AM Re: Say adios to your Elio reservation [Re: OneEyeJack]
wemay Offline


Registered: 04/04/12
Posts: 8898
Loc: Southeast Florida
...and an increasingly outdated design that lost its eye-appeal many months ago.
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#4605132 - 12/16/17 07:47 AM Re: Say adios to your Elio reservation [Re: OneEyeJack]
spasm3 Offline


Registered: 05/30/10
Posts: 8662
Loc: North Carolina
They have been saying in production next year since about 2012.
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#4605133 - 12/16/17 07:48 AM Re: Say adios to your Elio reservation [Re: OneEyeJack]
NibbanaBanana Offline


Registered: 05/23/16
Posts: 292
Loc: New England
I've been watching this for a while. Just goes to show you how difficult it is to bring a vehicle into production. And how things depend on the economy.

When gas is up to $5/gal, this thing would look a lot better. There's a whole lot of people who can't afford a $25K hybrid or more for a Tesla. A full size motorcycle is going to run over $10K and have fun driving it during the winter in New England. Or getting to work in the rain. A two seater car for $8K and 50+mpg could look pretty good to a lot of people. That said, we'll never know whether the Elio projections were realistic or not.
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#4605184 - 12/16/17 09:17 AM Re: Say adios to your Elio reservation [Re: OneEyeJack]
ZZman Offline


Registered: 03/17/08
Posts: 5792
Loc: Michigan
Sad to see people get scammed.
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#4605230 - 12/16/17 09:47 AM Re: Say adios to your Elio reservation [Re: ZZman]
Mr Nice Offline


Registered: 09/12/04
Posts: 21207
Loc: Orlando, FL
Originally Posted By: ZZman
Sad to see people get scammed.


Yep. The guy is laughing and people lost their deposits.

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#4605239 - 12/16/17 09:55 AM Re: Say adios to your Elio reservation [Re: OneEyeJack]
funflyer Offline


Registered: 06/26/14
Posts: 693
Loc: Northern Arizona
It kinda smelled like a scam when they were advertising a $6800 base price in the beginning. That's how you attract suckers I guess. However, I always thought they'd have better success by marketing that car as a kit. They could've bypassed most of the red tape that way. In the end Paul is still a winner, paying himself a 250k salary thanks to the 60,000 suckers who bought in.
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#4605349 - 12/16/17 12:32 PM Re: Say adios to your Elio reservation [Re: OneEyeJack]
Vern_in_IL Online   mad


Registered: 06/25/14
Posts: 1892
Loc: IL
Those Valeo [censored] were part of this. Good it failed.

and the company relied on CROWDFUNDING?????

Where is the 20% investment with Toyota... GM? No major car maker for support? Wow, why would you do this? You simply cannot build a car today without investment from current auto industry. You just have to make sure they don't own over 50% of the company.

Even Tesla had investments from Toyota and others (latter dumped) but you need that kind of investment to enter the market.
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#4605356 - 12/16/17 12:43 PM Re: Say adios to your Elio reservation [Re: funflyer]
SatinSilver Offline


Registered: 01/24/08
Posts: 10182
Loc: OH
Originally Posted By: funflyer
In the end Paul is still a winner, paying himself a 250k salary thanks to the 60,000 suckers who bought in.


Sounds like he needs a nice long stay at the Gray Bar Hotel.

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#4605367 - 12/16/17 12:53 PM Re: Say adios to your Elio reservation [Re: OneEyeJack]
DoubleWasp Offline


Registered: 05/21/12
Posts: 5236
Loc: Fort Lauderdale, FL
Business in America.
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#4605387 - 12/16/17 01:12 PM Re: Say adios to your Elio reservation [Re: OneEyeJack]
Crispysea Offline


Registered: 04/14/17
Posts: 403
Loc: TN USA
This reminds me of a scam about 40 years ago. It was a three-wheeled car called the “Dale”.


Edited by Crispysea (12/16/17 01:21 PM)

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#4605403 - 12/16/17 01:29 PM Re: Say adios to your Elio reservation [Re: Crispysea]
SatinSilver Offline


Registered: 01/24/08
Posts: 10182
Loc: OH
Wait till the feds start sniffing around. Can't believe the guy is still walking around. Although the guy isn't dumb by any means, just shady.

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#4605441 - 12/16/17 02:21 PM Re: Say adios to your Elio reservation [Re: OneEyeJack]
Silverado12 Offline


Registered: 02/26/13
Posts: 3117
Loc: Central Virginia
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#4605448 - 12/16/17 02:25 PM Re: Say adios to your Elio reservation [Re: Vern_in_IL]
Silverado12 Offline


Registered: 02/26/13
Posts: 3117
Loc: Central Virginia
Originally Posted By: Vern_in_IL
Those Valeo [censored] were part of this. Good it failed.

and the company relied on CROWDFUNDING?????

Where is the 20% investment with Toyota... GM? No major car maker for support? Wow, why would you do this? You simply cannot build a car today without investment from current auto industry. You just have to make sure they don't own over 50% of the company.

Even Tesla had investments from Toyota and others (latter dumped) but you need that kind of investment to enter the market.


What did Valeo do? I know they shut down Rochester, NY and moved it to Mex but would be interesting to know what they're up to.
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#4607368 - 12/18/17 02:46 PM Re: Say adios to your Elio reservation [Re: OneEyeJack]
Anduril Offline


Registered: 02/19/07
Posts: 1026
Loc: Perris, CA
Wife wanted to put down a deposit on one, this is exactly why I told her to wait until they bring something to market. Now she's quite happy with her Versa which has a surprising amount of cargo room for such a small vehicle (yay, hatchback!), can park just about anywhere, comfortably seats 4, and gets an honest 40 mpg on the freeway if there's no traffic.
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