Guest what?

[spyryder]

Sorry: Couldn't help but jumping on this. We have now went from early spring 2014 to September 2014. Are they going to extend it again after that?

145 people on the list? At $1000 apiece or less--they now have $145,000 in the bank towards their project. I am guessing that does not even come near paying the CEO's annual salary. Oooops--there I go again.

Looks like they have well over 1400 deposits worth 1.4 million!

http://elio3wheel.com/vb/showthread.php?332-Numbers-Guess

 

[ARtraveler]

Looks like they have well over 1400 deposits worth 1.4 million!

http://elio3wheel.com/vb/showthread.php?332-Numbers-Guess

Went to the thread above. It looked like the person writing the reply said his "prediction" was 1400 deposits.

Even with 1.4 million--that does not give them the 7.5 they need for the plant start up mentioned earlier in the thread. I think the CEO salary is getting bigger though. :sour:

 

[TokenTwoWheeler]

Even with 1.4 million--that does not give them the 7.5 they need for the plant start up mentioned earlier in the thread. I think the CEO salary is getting bigger though. :sour:

The 7.5M is not plant start up money, but outright plant ownership. As I understand the situation, they can start up the plant now, but if they fail to pay the money in 30 months, they may be booted from the premises, and the plant torn down for scrap.

Keep in mind, the earnest money that people are putting up front on the car is probably not operational capital per se, but rather proof of interest in the car to get venture capital funding from investors.

The picture for Elio isn't as black as some people are painting it, but Elio certainly has their work cut out for them.

 

[ARtraveler]

The 7.5M is not plant start up money, but outright plant ownership. As I understand the situation, they can start up the plant now, but if they fail to pay the money in 30 months, they may be booted from the premises, and the plant torn down for scrap.

Keep in mind, the earnest money that people are putting up front on the car is probably not operational capital per se, but rather proof of interest in the car to get venture capital funding from investors.

The picture for Elio isn't as black as some people are painting it, but Elio certainly has their work cut out for them.

I have made several comments that the ball is now in Elio's court. They are undertaking a very large project. You are right that the venture capitalists need to be impressed enough in order to cough up the necessary funds to get the project rolling. We have seen this develop over a period of about three years. The production date keeps getting moved up another 6 months whenever the deadline gets close. The information is still very sketchy. Look up information about the plant, check with the Chamber of Commerce in the Louisiana town, try to find information other than advertising hype about the project--it does not seem to be there. I spent the better part of a day to find everything I could about Mr. Elio, and all of the above. I came up NOT knowing more than we all know from postings on SL.

I have already made several arguments about the red flags so will not belabor them here. I still say, I am wishing them luck, and hope they succeed in a project such as they are proposing. No deposits or money though, until I can go to my local Elio dealer and look over the color selection, etc.

 

[TokenTwoWheeler]

I still say, I am wishing them luck, and hope they succeed in a project such as they are proposing. No deposits or money though, until I can go to my local Elio dealer and look over the color selection, etc.

The point we disagree on is whether or not this is a scam. However, I too won't be pulling any money out of my pocket until I can go to my local Elio dealer, do a test drive, etc.

Again, I would love to be wrong about them, and I wish them the best of luck.

Skeptical they can make a go of it, but hope they do.

 

[ARtraveler]

The point we disagree on is whether or not this is a scam. However, I too won't be pulling any money out of my pocket until I can go to my local Elio dealer, do a test drive, etc.

Again, I would love to be wrong about them, and I wish them the best of luck.

Skeptical they can make a go of it, but hope they do.

Sounds like we are on the same page. No problem. :thumbup: If I have saved a few people from putting down pre-production deposits, I feel I have done good.

 

[PatGund]

Yesterday I went in Seattle and saw the Elio three wheels. I stood in line for half hour to get inside. Supprisingly it got lot of leg room in front seat and with backseat too. A steering wheel and 3 cylinder engine. Definitely not a motorcycle but very good for a practical transportation. This a real competition of our Spyder in someway JMHO. Good thing to come for a US made transportation.
I will consider to have one.

Went there too. Was interesting. One of the people where kinda trash-talked the Spyder, but the other was quite interested in my take on the Elio.

I look at them as occupying different niches. The Spyder is my motorcycle. If I got an Elio, it would be as a short-range commuter car. Also something my partner could drive. (she has a spinal fusion and motorcycles are completely forbidden to her due to the helmet).

I'm kinda curious as to how Washington may end up licensing them though. A normal S/TEP class could be overkill for an Elio driver.

 

[PatGund]

it will be competition for the smart car and all those micro vehicles coming out. Jmo
Would you give up your spyder for an elio...??

I would get an Elio to go WITH my Spyder, but not to replace it.

 

[bobnaquin]

I have traveled the Elio route with and Aptera. The Aptera was about the came design and slated to sell in the high 20's. After placing my bet and letting it ride for a couple of years I realized that it was not going to happen and got my money back. I am somewhat sure that the Elio people will be able to get their money back.

Why they picked the $6800 price point is beyond me. I am not certain you can get a three cylinder engine and sell it for a profit at that price, let alone the rest of the car. A rebuilt BRP 3 cylinder will cost about $4k for a reference point. If they sold these for $15K I would still buy one and I am the tightest guy on the planet. The low price indicates to me that someone did not do their marketing research and that is where the thing begins to smell funny.

But good luck to them. I will still buy two at $6800. I am pretty sure I spent more than that on accessories for my first Spyder.

 

[TokenTwoWheeler]

I'm kinda curious as to how Washington may end up licensing them though.

Washington state law already covers this: It has more than two wheels, is fully enclosed and has a steering wheel, therefore it is a car.