Starting an automotive company is not cheap. Anticipated production date is based upon timely receipt of requisite funding. Share your opinion and gain insight from other stock traders and investors. Elio Motors, the company founded in 2009 by auto enthusiast Paul Elio and which has been promising a revolutionary autocycle since 2012, is back in the headlines. 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. Forward-looking statements are made and based on information available to the Company on the date of this website. 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. 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. Ive been waiting for someone to carry through on this concept. We are one day into 2021 targeted production. Would be nice to market a version for delivery services like grubhub, pizza hut or eatstreet. 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. [3], In January 2019, Elio stated: "The production date is estimated to be 76 weeks from the timely and successful completion of our current and subsequent fundraising efforts. . The company started accepting customer reservations on its website in January 2013 and stopped accepting reservations at 65,341 in 2017. Last year, the company reported a $10 million loss in the first six months, according to the Phoenix Business Journal. Despite no high-priced batteries in its drivetrain, it is anticipated to be rated at 84 mpg highway and 49 mpg city. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. 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. Id rather walk away from a totaled car than get myself killed. Login/Register . As previously noted, there is no rebel billionaire here Elio has had to bootstrap its funding the hard way. 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. 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. Wow, it has been a while since we have had the chance to say that and frankly, it feels good and were back! 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. 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. Get Rid of your Car, The Most Powerful Tool to Cut Miles Driven, Gas, & Vehicle Costs (and its Free). Elio Motors, the embattled Phoenix car-making startup, ran a net loss of $10.4 million during the first half of 2021, according to documents the company recently filed with the Securities and . 34 talking about this. Eight years later, he still hasnt gotten his vehicle and he hasnt gotten his money back, either. Thought. And that was before the company has what USA Today estimates to be $28 million of deposits on which to make good, in addition to the $7.5 million that USA Today reports Elio owes in fines over its failure to create any of the promised jobs in Louisiana. Elio Motors is a company founded by Paul Elio in 2009, to design and manufacture a three-wheeled, enclosed autocycle. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. I would have actually considered owning one -but my wait and see approach turned out appropriate. 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. (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.) Once the electric version is produced, Elio plans to potentially launch the Elio-G for consumers looking for a gas powered alternative. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. The Cost of Manual Transmission vs. Automatic Transmission: Is it Worth it? 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. 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. The result? The company was founded by Paul Elio in October 2009 . Say I average 60mpg. Would you buy a vehicle promising 84 miles per gallon that costs less than . The issue here is not only the motorcycle license, but the fact that in many states, a helmet would be required to drive this (both of which I believe theyve been working on). If the car does materialize, it already has competition: Electra Meccanica's three-wheel, single-seat Solo that offers 100 miles of driving range. [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. Sure, you might know them as Blue, White, Red, Silver, Green, Black, and Orange. The worst mpg I have got with it was 40, so I am pretty happy with it, However my concerns in a smaller car is always What happens if I get hit or anything like that. With the Hughes Optioneering Strategy, youll soon learn that the safest option for new accounts is options themselves! this car would save me 2/3 of that and quickly pay for itself. 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. Elio Motors, Inc. engages in the designing, developing and manufacturing of three-wheeled vehicles. Production, it said, is expected to begin in 2022. [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. When gas prices surged, he saw a chance to go small. Elio Motors pivots to 150-mile Elio-E EV, gasoline version still not canceled Bengt Halvorson September 13, 2021 Comment Now! 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.. From 1937 through 1954, Nash Motors was the automotive division of the Nash-Kelvinator Corporation.As sales of smaller firms declined after 1950 in the wake of the domestic Big Three automakers (General Motors, Ford, and Chrysler) advantages in production, distribution, and revenue . I would absolutely buy this as my commuter car. It may not display this or other websites correctly. Elio Motors, Inc. was founded in 2009 and is based in Phoenix, Arizona. -- 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 . 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]. So I started looking in to it a bit more. The Phoenix-based automaker has signed a . Elio Motors News Update 2021 SAD Joe Cabrera 6.33K subscribers Subscribe 282 21K views 1 year ago The continuing saga of Elio Motors. Can't wait for the Elio-E to come out in 2023. 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. net sequestration of CO2 looking at cradle to grave 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. I feel like they must have pushed back timelines on the release date. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Did you read the agreement you signed when you put your $1,000 in? 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. "Elio Motors Returns From the Dead With 3-Wheeled Elio-E EV", "Zacks Update on Elio Motors Misinformation Clarified", "Elio Motors Had All Of $7,155 Left In The Bank Late Last Year", "Waiting on the Elio, a Three-Wheeled Dream Car of the Future", "Elio Motors debuts e1c engineering vehicle", "You won't need a motorcycle license to drive the Elio in 41 states", "Elio Motors Gets Closer to Nationwide Helmet Exemption", "Three-wheeled car buyers won't have to take motorcycle test", "Maker of high-mileage 3-wheel vehicles buys former GM plant", "Elio Motors' Top 10 Things to Love | Elio Momentum v40 | Elio Motors", "Elio Motors | The next big thing in transportation! What is the 52-week high and low for Elio Motors Inc Stock? In fact, once production officially kicks off, it will have an in-house-built 0. . It makes me think of a better less electric version of the Corbin sparrow. 100% hydrocarbons simple doesnt make sense any more. I think I would get one if we ever needed a second car for me to get to work and back. Bad idea for many people. document.write(''); 0.44Average Auto/Tires/Trucks News Sentiment. Im just about 20mpg now, so the 20,000 miles take me 1000gal or about $3500/yr. Also: http://www.americanenergyindependence.com/alcoholengines.aspx. 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). It was satirically described as a motorcycle with a really big helmet attached. Six months, according to the Phoenix Business Journal based in Phoenix, Arizona production date is upon. Accounts is options themselves is a company founded by Paul Elio in 2009 and is based in Phoenix,.. Ideas based on information available to the company was founded by Paul in! Previously noted, there is no rebel billionaire here Elio has had to bootstrap its funding the way. 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