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. You will be reported to the proper authorities for false advertising. Heres what we learned during our investigation: 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. It is only 2-3 mpgs higher than some much larger gas-only models. But the media attention has been hard to ignore lately. On the highway, the amount of front facing surface (total of width by height) determines the amount of air the car has to push out of the way to travel. GM's shuttered Hummer plant in Shreveport, Louisiana. Not only does it need millions in cash quick, now the state of Louisiana has leveled a $545,000 fine against the company. They could easily do it and they would have to look hard to see if they was a billion or two light this quarter.Big oil once again or worse our own government putting the kiabash on it?? Sure, you might know them as Blue, White, Red, Silver, Green, Black, and Orange. I was (and still am) waiting for Tesla to make a car that I can afford, but until then, this little car will do nicely and get almost double the MPG I get in my 2005 Honda Insight. Click to get the best stock tips daily for free! 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. Throughout 2018 and beyond, reservation deposits remained closed, and there was no concrete plan in place to raise the nearly half-billion dollars to proceed. ELIO News Today | Why did Elio Motors stock go up today? OTCMKTS:ELIO Elio Motors - ELIO News Today $0.01 0.00 (0.00%) (As of 02/28/2023 12:00 AM ET) Compare Today's Range $0.0125 $0.0125 50-Day Range $0.01 $0.03 52-Week Range $0.01 $0.75 Volume 3 shs Average Volume 314 shs Market Capitalization $369,750.00 P/E Ratio N/A Dividend Yield N/A Several days later, Elio Motors responded and rejected his request for a refund. While I can appreciate the ingenuity behind this and hope that many people use it, I dont find myself in the target user group. Smarts problem was being the baby of a european market where his vehcile prices are the norm. Maybe you can put a basket on front for trips to the grocery store. Technology, performance and design delivered to your inbox. Looks hideous! I dont see the point in comparing a Smart to a Versa, and then stating the problem relates to an American stereotype of wanting bigger and faster cars using 2 cars in the same price range as examples. [citation needed], Elio designs could meet motorcycle standards as a three-wheeled autocycle, within the U.S. government's motorcycle classification. Would you give it up if the customers didn't ask for the refund? Founded by car enthusiast Paul Elio, Elio Motors Inc. represents a revolutionary approach to manufacturing low cost electric and gas powered vehicles. 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. The small automaker started more than a decade ago with a supremely lofty goal: 84 mpg, three wheels, for less than $7,000. In the meantime, you can head over to the SEC website where you can view our recently filed reports and financial statement. 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. The price is right for me to buy one w/ no payments. Elio Motors secured more 65,000 reservations for the (Elio-G) gas-powered vehicle, proving the demand for its unique styling and design. Back in the heady $7,000 Elio-G days, the company told us it'd need to build 150,000 to 200,000 cars per annum to be profitable. A few prototypes to demo to the press. Certain statements within this website including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. This week has been a tough one for automakers in general, with Ford, GM and Toyota all announcing monthly declines in new car sales - the first time that's happened since 2009. Still, I think I can tackle a lot of the same energy issues (and more!) Despite no high-priced batteries in its drivetrain, it is anticipated to be rated at 84 mpg highway and 49 mpg city. I highly recommend it if you are curious about energy efficiency and environmental stewardship. Mark your calendar and go out as an Elio for Halloween (don't forget the Starbucks Venti Coffee). And now, a much less wealthy rebel, Paul Elio, hopes to do the same in a gasoline-powered vehicle through Elio Motors. Now likely thanks to some Overstock.com investment and a plan to introduce a . May 3, 2017. Aside from the enginea 0.9-liter three-cylinder engine designed by Germany's IAVmost of the Elio's components were off-the-shelf parts from existing suppliers, which the company said offered huge opportunities for customization. The C1 is an electric self-balancing scooter-car cross-over from motorcycle innovation company Lit Motors from San Fransisco, U.S. In the filing, it said that their vehicle would not be capable of production until approximately 76 weeks after securing enough funding to begin.[14]. Considered, but if they sold these with The company was founded by Paul Elio in October 2009 . No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. Elio Motors has continuously delayed the release date, which was originally in 2012. An Overview of Blue Chips. Serious About Savings? Please help update this article to reflect recent events or newly available information. Sign up to receive the latest news and ratings for ELIO and its competitors with MarketBeat's FREE daily newsletter. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. Paper Mache would work well and you can use some suspenders to hang it over your body and then walk down the street looking through the windshield. And there will be plenty of regulatory hurdles to overcome. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. 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. It was satirically described as a motorcycle with a really big helmet attached. Which Dollar Store, If Any, is Worth Your Investment Dollars? The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. Cookie Notice Disclosure: Information provided on this site should not be considered professional financial advice. Elio Motors, Inc. was founded in 2009 and is based in Phoenix, Arizona. I was actually very VERY close to putting down a payment for a reservation for one of these cars 2 years ago. I would consider it. To Elio, the interest is free money. 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. Elio Motors, Inc. was founded in 2009 and is based in Phoenix, Arizona. Within a day or so I told him that his money was gone and it wasn't coming back. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Now, given the climate of the car business, Elio has decided to launch the electric version first, and thenmaybethe gasoline version. Not until they actually get funding. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ). Well it looks kind of cool to me. The offering was deemed a success because it raised $17 million from thousands of small investors. It was founder Paul Elio's solution for a post-recession America that desperately needed affordable wheels. To Elio, the interest is free money. The timing and availability of the funds can move and we will do everything we can to keep the project moving forward by utilizing each piece of funding received, as we receive it. The Honda Civic that runs on CNG, except refueling on the road is a joke. They are, apparently, not dead yet with a dream that still lives. 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. Elio Motors, Inc. (OTCQX: ELIO) recently announced it selected Bosch, a global supplier of technology and services, for key safety and powertrain components of its highly anticipated. Is the Elio-E really going to happen, or is the announcement just an attempt to prop up a failing startup? [7][8], The design targeted a curb weight of 1,350lb (610kg); three-wheel anti-lock disc brakes; an inline 0.9-liter three cylinder (designed especially for Elio by IAV), 55 horsepower (41kW) engine; and front-wheel drive, with a top speed of 107mph (172km/h) and an acceleration of 0 to 60mph (0 to 97km/h) in approximately 10.8seconds. greater longevity of engine life due to cleaner fuel What's the current price of Elio Motors Inc Stock? You could put a little bat logo peel-off sticker on the hood! 171 miles. It's essentially an ultra-efficient supermini, albeit with a unique design meant to minimize drag. Charge Time. It really is hard. And we may or may not make it. Until then Elio is making money on that money sitting in an account. Until then Elio is making money on that money sitting in an account. It offered a lot of promise. But again, a good idea for those in a different situation. Vehicle shown is the gas powered version. Bad idea for many people. You are using an out of date browser. In fact, without doing research, Id say you pay the same for a car in $ as you do in UKP, that makes cars in the UK 60% more expensive than the almost identical car in the US. 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. But Paul Elio, founder and CEO of Elio Motors, said in an interview with USA TODAY thathe believes the company can still succeed. 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. Based on a host of speculative forward-looking statements, the company's gas-powered three-wheel concept was marketed as the Elio P4; was illustrated to attain a highway mileage rating of up to 84 mpg and was to offer power windows, a power door lock, cruise control, and air conditioning, in an aerodynamic, enclosed bodywork. Being that my monthly gas cost me more than my truck, I would be very interested in something like this. I like the 3-wheel premise and while I wouldnt buy it in orange, I would definitely pick this car up as a very cost-effective, fuel-efficient commuter vehicle. Food for I am sure I would get some looks but with that kind of MPG and price I would definitely purchase it. Some guy (I think a politician down there) claims they sold it all. It took an ambitious and daring rebel billionaire (Elon Musk) to force some true efficiency innovation in the marketplace with electric vehicles via Tesla. I remember when the Smart Car was released in the U.S. It had a clever name, distinct look, good fuel efficiency, and a low cost. Production, it said,. Mitsubishi Mirage Car + fuel cost over 5 years estimated at $22,115. I am moving home to suburban NJ but work is on Staten Island. The 84 MPG on the highway is mentioned often on the companys web page. I think I would get one if we ever needed a second car for me to get to work and back. Sector Consumer Discretionary Industry Motorcycle Manufacturers Employees - Founded 2009 Address 2942 North 24th Street. Id rather walk away from a totaled car than get myself killed. It should have been declared a scam, and Mr Elio prosecu. me and my wife agree that the best way to view this is an air conditioned, weather proof scooter. 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. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. 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. Its 34 city and 38 highway fuel efficiency is good, but not for its size. Topics include General Elio Discussion, Elio Clubs by State, Future Elio Events, and. In fact, once production officially kicks off, it will have an in-house-built 0. . The Elio was to be built at GM's shuttered Hummer plant in Shreveport, Louisiana, where the company promised to create 1,500 new jobs. After a half-decade of fits and starts, E-M has actually delivered a few cars to customers. 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? Vehicle shown is the gas powered version. *MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation. Advertisements in 2017 illustrated a base price target of $7,450 for the gas motor version and suggested to achieve up to 84 mpg-US (2.8 L/100km) on the highway and up to 49 in the city. 2023 Elio Motors Inc. All rights reserved. [2][3], As early as 2015, The New York Times noted Elio Motors was selling "spots on the waiting list and, more broadly, a dream."[4]. Eight years later, he still hasnt gotten his vehicle and he hasnt gotten his money back, either. Only thing that competes price and gas wise would be a motorcycle. Threads 125 Messages 4K. 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. . ". Elio Motors is reinventing how Americans commute with a low-cost, ultra-high mileage vehicle. In September 2021, Elio Motors announced that a new electric motor design was the company's focus, to be later followed by a gas motor option. Id seriously consider it as it ticks the main boxes. Threads 1.8K Messages 95K. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. Plus (if we recall correctly), the Elio P4 prototype we drove was rather fun to putter about in at the sub-50-mph speeds we were allowed to hit. Aside from a few brightly colored prototypes, most powered by three-pot Geo Metro powertrains, no cars were built and no jobs were created in Louisiana. Since this car would quite often be used as a local commuting vehicle, it would be nice to see regenerative braking, which could be some technology other than electric. There's also the Vanderhall Edison, which is huge fun, but not exactly a product with mass appeal. Elio Motors is making a significant step towards finally launching its long-overdue "ultra-high-mileage, low-cost three-wheel Elio vehicle.". Get Elio Motors News Delivered to You Automatically. Dec 3, 2022; Sonoran Sam; Elio Photos and Videos. 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). One word of warning, do not paint it yellow. 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