Jump to content

Elio Motors Crowd Funding Initiative


RV_

Recommended Posts

While this sounds and looks like a duplicate post, it has excerpts for those who don't click on links.

 

Paul Elio is asking for investors. I am all in on another car company but for others this might be their Tesla, or not and it fails.

 

Regardless, like my research on Tesla, some might want to really dig in Paul Elio and his company and give it a big thumbs up or down.

 

Excerpt:

 

"Welcome to Elio Motors, a revolutionary startup altering the course of American transportation. With the help of StartEngine.com we’ve launched a crowdfunding initiative - a chance for you to buy in and share our dream. Join us today!

 

A few short years ago, automotive enthusiast Paul Elio sized up the prevailing status quo of personal transportation. He saw the soaring costs of the vehicles we drive. He saw fuel prices spike to record highs almost daily. He saw Americans struggling with an economy that was taking too much and giving back too little. Paul Elio decided that the world was ready for something radically new. The result? A three-wheeled masterpiece of automotive brilliance that bears his name.

 

The American made two-seater Elio is affordable, fuel-efficient and fun to drive. And, it's already gained the attention of 43,000+ who have reserved their place in line.

 

In a nutshell, Elio is a stand-alone solution for today’s generation of drivers. Gas prices are constantly spiking. Cars themselves cost more than houses did a few short years ago. And in case you haven’t noticed, the world, and personal space along with it, is shrinking. We simply need to evolve to more efficient and practical forms of transportation. We need a new way to get around. Elio is that new way. Never has different, sexy and fun tag-teamed so well with serious, practical and smart."

 

Go here for the investor information the above is from for lots more and the chance to make it happen like I was a part of with Tesla. I do have a hundred dollar bet and a place in line for my Elio too: https://www.startengine.com/startup/elio-motors?utm_campaign=Investor+Email&utm_source=hs_email&utm_medium=email&utm_content=19665329&_hsenc=p2ANqtz-_XXbeCcUIlzamjrbpymysGrc4GGyHJeo0yldJErmg5p_9alOk3VoufCAQEri00MGeGhZ_8TRryB1YF8-B843p9nUQ2tg&_hsmi=19665331

Link to comment
Share on other sites

They are on fundable.com

I asked for and received their "prospectus" and after reading it opined that they are really a high risk in terms of investment.

Like yourself, they have over 40,000 others that have bought their order place. I think that they're asking $15K from accredited investors (read: speculators).

Elio is "re-inventing" the G10 engine (used in the Metro)

This might be viable.

But there are other opportunities in the works. At least two companies are developing the opposed-piston engine which may prove to be a better propulsion unit.

Elio is worth watching and it might evolve into an opposed-piston driven machine.

In the meantime, I'll be keeping watch.

 

Link to comment
Share on other sites

Thanks Rich!

I did not join to read the prospectus but as a placeholder I get all the investment announcements. So that is news to me. I am not yet ready for any new investments and those will be in Tesla if they have another "buy opportunity" like the YTD low of $185 even on March 27, 2015. At today's price of $267.09, that is an $82.09 profit per share bought in 90 days. 30.73% profit in 90 days is pretty good.

 

I hope that was one of your "in" times.

 

I am thinking Elio very high risk unless their application for a DOE ATVM loan is approved at which point it is a done deal, unless Paul Elio can't drag it over the finish line into the production line from there.

 

Excerpt:

 

"Elio Motors is based in Phoenix, Arizona and is preparing to manufacture its vehicles in Caddo Parish, Louisiana, using a portion of the former General Motors Shreveport Operations plant. The company projects employment up to 1,500 at the Shreveport plant, with the initial hiring of 800 beginning in the second quarter of 2015. Elio reports that 90% of the parts used in the vehicle will come from suppliers in North America. Production is projected to begin in the third quarter of 2015. The company has begun taking reservations with a deposit on its website; as of April 5, 2015, 41,481 reservations have been made.

 

On January 15, 2015 at Caddo Parish Commissioner Ken Epperson's district meeting, Paul Elio said that Elio Motors had raised $65M in capital, but needed $230M more before production could begin. They are awaiting approval of a $185M loan from the Department of Energy Advanced Technology Vehicles Manufacturing. They have also enlisted the help of Corporate Fuels Securities to raise any money that isn't brought in by either the ATVM loan or the sale of excess equipment from their purchase of the equipment from the GM plant in Shreveport. Comau is helping with the refurbishment of the equipment and the sale. IAV has developed 3-cylinder engine for Elio which was to be shown at a "First start" event on February 6, 2015 that was later cancelled with a rescheduled date "to be announced". Almost two months later, the event has yet to be rescheduled. Elio Motors did release a video of a working 3-cylinder engine on Youtube on March 6, 2015, but has not provided any revealed specifics on when the test was run, resulting performance data, or the current status of the motor and the overall IAV development project.

 

A lack of funding has been the primary obstacle to production over the last five years. They currently expect production to begin in the first half of 2016. The delay will mean Elio will miss the deadline to reserve their space in Shreveport's old GM plant. An extension of the deadline is possible."

 

That from here: https://en.wikipedia.org/wiki/Elio_Motors

Link to comment
Share on other sites

One of the problems Elio has to solve is it's classification as an "motorcycle".

Elio Motors has been lobbying and today announced federal legislation "which creates the new classification “autocycle” for enclosed motor vehicles with three wheels".

This is to avoid the helmet requirement applied to motorcycles in many states.

 

This is important legislation as it will open the doors for other companies to develop their own three-wheeler "autocycles".

 

As for funding, Elio is now using two crowd funding sources.

Fundable.com and Startengine.com

 

Fundable.com is for accredited investors, has a minimum amount that buys a company interest that is convertible to stock in a liquidity event.

Startengine, to my knowledge, is for the general public - probably has lower standards participation standards.

 

It's a big hill to climb.

Link to comment
Share on other sites

Elio is echoing the current move of the tech sector to avoid IPO as long as possible which is good news for the unwashed masses investors like us, meaning non hedge fund or Venture capitalists, if this bubble bursts. Reading it I decided to share it here, as it looks like the way to go for Elio as well. While not a tech startup, his autocycle is a departure and rejection of the "norms" for auto manufacturers. Remember they did, and some still do, throw stones at Tesla, and said no one would buy them, or solve the range anxiety issues both of which turned out dead wrong.

 

I don't think the auto industry is quite ready for the response once Paul brings the car that bears his name to market. They said there was no luxury car market for electric roadsters or sedans that drive like a Porsche 911. I believe they are making a mistake at the other end of the spectrum when they see the market for not only kids just starting out or in school, but us old farts that appreciate the Frank Lloyd Wright - like aura of minimalist design at a student price. And they sip fuel. Making them a 21st century transport at third quarter 20th century cost and maintenance expense.

 

I can't wait to see the way that Louisiana and its neighbor Texas handle his direct to buyer model in view of their resistance to it for Tesla. The losers there are the people who pay a very high premium for little in return. I for one have bought new only once, my Harley Electra Glide Classic in 1996. All my cars, bikes, scooters, vans, sports cars and luxury sedans were purchased cash from private owners or a good friend that has a car lot who I help with computers in return for cost plus.

 

I'll post the new topic on its own as others might find it enlightening too.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Guest
This topic is now closed to further replies.
×
×
  • Create New...