Anyone following Elio Motors or even interested in this new car startup?
Elio Motors?
- Thread starter OneEyeJack
- Start date
- Status
Nick1994
$100 site donor 2024
They have pushed back the release of this car like 5 years in a row.
I'm starting to wonder if it might be a scam.
I'm starting to wonder if it might be a scam.
Looks innovative, but practically it's only useful if ALL you do is commute to work, and maybe pick up some groceries on the way home.
What do you do when you need to drive around a family? Go on a long vacation? Haul something home from Home Depot?
Is the goal that these replace the cars currently sitting in the driveway or that you buy these IN ADDITION to the ones you already have?
So best case scenario for Elio is that the typical married working couple has 2 of these. But 2 of these still doesn't accomplish the capabilities of something modest like a Toypta Corolla or an old Subaru Outback.
I see it as a motorcycle you sit in and drive like a car. While it gets you around fine, you still need a "normal" car to do the other stuff in life that isn't just commuting.
What do you do when you need to drive around a family? Go on a long vacation? Haul something home from Home Depot?
Is the goal that these replace the cars currently sitting in the driveway or that you buy these IN ADDITION to the ones you already have?
So best case scenario for Elio is that the typical married working couple has 2 of these. But 2 of these still doesn't accomplish the capabilities of something modest like a Toypta Corolla or an old Subaru Outback.
I see it as a motorcycle you sit in and drive like a car. While it gets you around fine, you still need a "normal" car to do the other stuff in life that isn't just commuting.
I think he had a decent idea. I don't think it's a scam. But the declining price of gas hit it hard. I think he bit off more than he could chew by trying to develop his own engine. If he had used an existing power-plant and actually gotten it to market in a timely fashion, it might have worked. But it doesn't look promising right now.
A soda can on 3 wheels would never sell well in the USA.
Little interest in a vehicle like that.
Little interest in a vehicle like that.
If I were in startup business I'd run with a prototype and enough progress to keep investors happy.
Just like any startup the hope is you get bought up by large fish(real car maker) and your tech or product lives on.....
Just like any startup the hope is you get bought up by large fish(real car maker) and your tech or product lives on.....
We talked about this before:
https://www.bobistheoilguy.com/forums/ubbthreads.php/topics/4022398/Re:_Elio_motors....scam_?
https://www.bobistheoilguy.com/forums/ubbthreads.php/topics/4022398/Re:_Elio_motors....scam_?
wemay
Site Donor 2023
The world has passed them by.
Vaporware.
Has Muskie paid a dividend yet?
I've had $100 in for a few years.
I really don't think it is a scam, but as the price of gas has tanked, compared to when this idea first came out, I think they didn't move fast enough.
I like the idea, but I drive 115 miles round trip daily, so it would be great to only use 1.5 gallons/day, compared to the 3.3 that I use now. However, at only $2.00-2.40/gallon, the payback will take a long time. That's only ~$1000 savings in one year of daily driving and you need to spend $8000-9000 up front to get there.
I really don't think it is a scam, but as the price of gas has tanked, compared to when this idea first came out, I think they didn't move fast enough.
I like the idea, but I drive 115 miles round trip daily, so it would be great to only use 1.5 gallons/day, compared to the 3.3 that I use now. However, at only $2.00-2.40/gallon, the payback will take a long time. That's only ~$1000 savings in one year of daily driving and you need to spend $8000-9000 up front to get there.
They need to raise about $5M/week to meet their estimated capital requirement to start production by their new target date, so that seems unrealistic.
Their accumulated loss is another $141M, so they're up to about $0.5B on the books by the time they sell their first unit of production.
Interest alone would probably be at least $2.5M/year. That's about 3125 units a year just to cover interest if my arithmetic is correct ( it might not be ). The arithmetic looks unrealistic at this point. They won't have to pay income taxes for a long time.
I would like to see them succeed, but starting even a small business in this country has been difficult for quite some time. This is / was a huge undertaking. The barriers to entry are high, to put it mildly, as they are finding out.
Their accumulated loss is another $141M, so they're up to about $0.5B on the books by the time they sell their first unit of production.
Interest alone would probably be at least $2.5M/year. That's about 3125 units a year just to cover interest if my arithmetic is correct ( it might not be ). The arithmetic looks unrealistic at this point. They won't have to pay income taxes for a long time.
I would like to see them succeed, but starting even a small business in this country has been difficult for quite some time. This is / was a huge undertaking. The barriers to entry are high, to put it mildly, as they are finding out.
Originally Posted By: Win
They need to raise about $5M/week to meet their estimated capital requirement to start production by their new target date, so that seems unrealistic.
Their accumulated loss is another $141M, so they're up to about $0.5B on the books by the time they sell their first unit of production.
Interest alone would probably be at least $2.5M/year. That's about 3125 units a year just to cover interest if my arithmetic is correct ( it might not be ). The arithmetic looks unrealistic at this point. They won't have to pay income taxes for a long time.
I would like to see them succeed, but starting even a small business in this country has been difficult for quite some time. This is / was a huge undertaking. The barriers to entry are high, to put it mildly, as they are finding out.
In regards to the units to cover the interest. Based on the numbers you presented, I believe you're off by a 10 factor, so 313 units. Still a lot of units just to pay for interest.
$2,500,000/8000 = 312.5 -> 313
They need to raise about $5M/week to meet their estimated capital requirement to start production by their new target date, so that seems unrealistic.
Their accumulated loss is another $141M, so they're up to about $0.5B on the books by the time they sell their first unit of production.
Interest alone would probably be at least $2.5M/year. That's about 3125 units a year just to cover interest if my arithmetic is correct ( it might not be ). The arithmetic looks unrealistic at this point. They won't have to pay income taxes for a long time.
I would like to see them succeed, but starting even a small business in this country has been difficult for quite some time. This is / was a huge undertaking. The barriers to entry are high, to put it mildly, as they are finding out.
In regards to the units to cover the interest. Based on the numbers you presented, I believe you're off by a 10 factor, so 313 units. Still a lot of units just to pay for interest.
$2,500,000/8000 = 312.5 -> 313
Originally Posted By: racer12306
Originally Posted By: Win
They need to raise about $5M/week to meet their estimated capital requirement to start production by their new target date, so that seems unrealistic.
Their accumulated loss is another $141M, so they're up to about $0.5B on the books by the time they sell their first unit of production.
Interest alone would probably be at least $2.5M/year. That's about 3125 units a year just to cover interest if my arithmetic is correct ( it might not be ). The arithmetic looks unrealistic at this point. They won't have to pay income taxes for a long time.
I would like to see them succeed, but starting even a small business in this country has been difficult for quite some time. This is / was a huge undertaking. The barriers to entry are high, to put it mildly, as they are finding out.
In regards to the units to cover the interest. Based on the numbers you presented, I believe you're off by a 10 factor, so 313 units. Still a lot of units just to pay for interest.
$2,500,000/8000 = 312.5 -> 313
Well, I had the units right, but I moved a decimal point on the interest. This is why I don't do arithmetic in my head .....
And that is at just 5%.
Originally Posted By: Win
They need to raise about $5M/week to meet their estimated capital requirement to start production by their new target date, so that seems unrealistic.
Their accumulated loss is another $141M, so they're up to about $0.5B on the books by the time they sell their first unit of production.
Interest alone would probably be at least $2.5M/year. That's about 3125 units a year just to cover interest if my arithmetic is correct ( it might not be ). The arithmetic looks unrealistic at this point. They won't have to pay income taxes for a long time.
I would like to see them succeed, but starting even a small business in this country has been difficult for quite some time. This is / was a huge undertaking. The barriers to entry are high, to put it mildly, as they are finding out.
In regards to the units to cover the interest. Based on the numbers you presented, I believe you're off by a 10 factor, so 313 units. Still a lot of units just to pay for interest.
$2,500,000/8000 = 312.5 -> 313
Well, I had the units right, but I moved a decimal point on the interest. This is why I don't do arithmetic in my head .....
And that is at just 5%.
There's still the question. If that car was on the market, met it's price and mileage goals, would you buy one?
All financing and business stuff aside this is the question that will become the key to success.
Look at all the cars on the freeway that don't qualify for the HOV lane during rush hour and one can't help but see a market for this car if just for the commuter, the second or third car in the family or the first car for a young person starting out in life's adventure.
All financing and business stuff aside this is the question that will become the key to success.
Look at all the cars on the freeway that don't qualify for the HOV lane during rush hour and one can't help but see a market for this car if just for the commuter, the second or third car in the family or the first car for a young person starting out in life's adventure.
I don't think it's a scam at all. I just think Paul had no idea it was going to be so tough to get financial backing for start-up costs, hence the continuous push backs of the start production date. It's an awesome design that I think would do very well if produced, but I don't think it ever will be. The ATVM loan will probably not be approved, and Paul is not willing to give up any control of the company to secure private investments, so this is where it sits...
Would I buy one? Doubtful. I drive 100 miles roundtrip for work. This school year has me picking up kids 3 nights of the week. Don't know what next year's schedule will bring. Maybe after the kids are gone, but four doors can be quite nice.
Didn't bother watching the video. But how does this trike do in inclement weather? Not just rain but some snow. While I can drive a different vehicle for winter (often do if it threatens weather) I sometimes will gamble a bit and take my Camry. Usually I can beat the snow... but if I don't, it performs just as you would expect. Snow, black ice.
How does it do in the moose test? How does it handle hitting deer? Had a late start to the commute today, and came across someone in a Camry who caught a deer--my guess it was 10 or 10:30am when she finished off that rodent.
Didn't bother watching the video. But how does this trike do in inclement weather? Not just rain but some snow. While I can drive a different vehicle for winter (often do if it threatens weather) I sometimes will gamble a bit and take my Camry. Usually I can beat the snow... but if I don't, it performs just as you would expect. Snow, black ice.
How does it do in the moose test? How does it handle hitting deer? Had a late start to the commute today, and came across someone in a Camry who caught a deer--my guess it was 10 or 10:30am when she finished off that rodent.
Originally Posted By: supton
Would I buy one? Doubtful. I drive 100 miles roundtrip for work. This school year has me picking up kids 3 nights of the week. Don't know what next year's schedule will bring. Maybe after the kids are gone, but four doors can be quite nice.
Didn't bother watching the video. But how does this trike do in inclement weather? Not just rain but some snow. While I can drive a different vehicle for winter (often do if it threatens weather) I sometimes will gamble a bit and take my Camry. Usually I can beat the snow... but if I don't, it performs just as you would expect. Snow, black ice.
How does it do in the moose test? How does it handle hitting deer? Had a late start to the commute today, and came across someone in a Camry who caught a deer--my guess it was 10 or 10:30am when she finished off that rodent.
It's been tested in the snow and is said to be able to handle up to 5 inches...as far as the moose test goes, how does a motorcycle do in this test? The Elio is classified as an autocycle, so it's not going to compete with full sized SUVs in a crash test, however it's infinitely more safe than a motorcycle. I consider it an all season, enclosed motorcycle with heat and AC...
Would I buy one? Doubtful. I drive 100 miles roundtrip for work. This school year has me picking up kids 3 nights of the week. Don't know what next year's schedule will bring. Maybe after the kids are gone, but four doors can be quite nice.
Didn't bother watching the video. But how does this trike do in inclement weather? Not just rain but some snow. While I can drive a different vehicle for winter (often do if it threatens weather) I sometimes will gamble a bit and take my Camry. Usually I can beat the snow... but if I don't, it performs just as you would expect. Snow, black ice.
How does it do in the moose test? How does it handle hitting deer? Had a late start to the commute today, and came across someone in a Camry who caught a deer--my guess it was 10 or 10:30am when she finished off that rodent.
It's been tested in the snow and is said to be able to handle up to 5 inches...as far as the moose test goes, how does a motorcycle do in this test? The Elio is classified as an autocycle, so it's not going to compete with full sized SUVs in a crash test, however it's infinitely more safe than a motorcycle. I consider it an all season, enclosed motorcycle with heat and AC...
- Status
