It also has a fuel-sipping 0.9 liter, 3-cylinder engine. The 84 MPG on the highway is mentioned often on the companys web page. Maybe for a family willing to buy a third car for commuting, or replace their motorcycle, but neither demographic will pull them into the 250,000 sales/year range. But, Ive grown a bit cynical over the years. Elio Motors CEO Paul Elio developed an ultra-small car with two wheels in front and one in back, promising to sell . http://insideevs.com/monthly-plug-in-sales-scorecard/. The Elio Motors blogs are just repeats from years past. They would drive it to cities all over America and try to get locals to support it but it was just a scam to get citizens money. 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. The offering was deemed a success because it raised $17 million from thousands of small investors. Still, the Elio-E has the potential to be an interesting car. Threads 1.8K Messages 95K. Elio Motors' three-wheel econo-spaceship looks like something from the future, but it's actually fairly simple. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. The front track is designed to be 66.8 inches (1.70m) with a wheelbase of 110 inches (2.79m). 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. And there will be plenty of regulatory hurdles to overcome. 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. Click to get the best stock tips daily for free! TSLA $194.76 2.52% MULN $0.423 3.63% AMZN $102.18 -1.17% BOIL $6.28 8.09% AAPL $151.73 -1.79% XELA $0.0660 10.37% But it has not identified a viable path toward raising the hundreds of millions of dollars it says it needs to get there. My goal with this car, would not have been something stylish, so the looks of this wouldnt entirely throw me off. The Honda Civic that runs on CNG, except refueling on the road is a joke. 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. It has never sold a single vehicle. I dont see a city estimate for MPG. By: Joe Ducey. I would have actually considered owning one -but my wait and see approach turned out appropriate. Well it looks kind of cool to me. As previously noted, there is no rebel billionaire here - Elio has had to bootstrap its funding the hard way. Utilizing the work already completed will significantly shorten development time versus a clean sheet of paper approach. Its bound to turn heads. On the other hand, I was often on a Honda motorcycle. 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. I think as the years pass, we will get away from so much luxury and cars we may be use to and instead go the frugal route. . Paul Elios first car business had collapsed. Considered, but if they sold these with The size and safety concerns me most on the Elio car, I love the idea of over 60mpg and find the cost well worth it, but around here we still have to travel on 2 lane roads semi-frequently and there are alot of those excessively oversided ford, chevy, dodge and toyota trucks. Forums. It should have been declared a scam, and Mr Elio prosecu. 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. . Serious About Savings? A and one of the first to come to market. Elio Motors assumes no obligation to update the information in this press release. A Russian agent, an eccentric millionaire and a new cryptocurrencymeant to help fund Elio Motors. 34 talking about this. But the thing that pisses me off is when people call it a scam like were not honorable. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. You are using an out of date browser. I am for saving fuel. It took an ambitious and daring rebel billionaire (Elon Musk) to force some true efficiency innovation in the marketplace with electric vehicles via Tesla. Would you buy a vehicle promising 84 miles per gallon that costs less than . I like the idea of this car, but I imagine it would be difficult to take through the drive-thru with the distance between the front left wheel and the driver side window. 2023 Elio Motors Inc. All rights reserved. Elio has raised $60 million thus far, but is still quite a ways off from the $200 million it needs to roll out full production. It is not . 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. clarinet, bassoon duet. Elio Motors was founded with a vision to create a high mileage, low-cost vehicle that everyone could afford. If youre new to the name Elio Motors, youre not alone. It is also a much more visible item for other drivers to see. A license really isnt difficult to get (I had one at 15), but if you dont already have a bike, borrowing one for the test could be difficult. It offered a lot of promise. After the Elio-E is funded and there is sufficient demand left, we will launch a gas version shortly. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. JavaScript is disabled. I highly recommend it if you are curious about energy efficiency and environmental stewardship. A highway accident can make me a statistic. 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. Would you give it up if the customers didn't ask for the refund? Get daily stock ideas from top-performing Wall Street analysts. Fuel economy, while not TOP on my list, has to be good enough to even make my list. Send it in to tips@thedrive.com. Until then Elio is making money on that money sitting in an account. Hargraves, 70, says he can't help but wonder if it was a scam to start with rather than just a company struggling to reach production. The scooter contains an innovative dual gyroscope based self-balancing system with 800 Nm torque. [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]. So many automotive startups underestimate how hard it is. Translationour guess, at leastis that someone at Elio figured out that off-the-shelf electric motors are cheaper than bespoke gasoline engines. Finally, in 2019, Elio stopped updating its website. One word of warning, do not paint it yellow. 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. The other thing that knocks things off my list is the safety. [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. I agree, similar to a short distance electric car, this would make a great second family car. While dormant, the gas-powered model may not be entirely dead it's now the Elio-G and there's a chance it could return. Elio Motors assumes no obligation to update the information within this website. Disclosure: Information provided on this site should not be considered professional financial advice. 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. Elio Motors, which has been struggling since 2009 to build its own ultra-cheap, small, fuel-efficient, three-wheeled car, announced Thursday that it will source an engine from a major. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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. 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 Say. For more info see the elioowners.com website. Called Liquid Solar it has some interesting ramifications including: 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. We track news headlines from hundreds of news outlets and tag them by company. The company never responded. No portion of this site may be reproduced or duplicated without the express permission of Elio Motors Inc. 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. That bodes well for them, because I agree that no one will want to wear a helmet inside their car! Published on Jul 26, 2017. The car from 1975 looked very very similar. As Smart showed, you dont have to be big to be safe. Show me the crash test datathen I might buy become a believer. Only thing that competes price and gas wise would be a motorcycle. Herein lies the problem. I would not be surprised if we never see an Elio released to the public. What could go wrong? We are one day into 2021 targeted production. Your California Privacy Rights/Privacy Policy. Dead end, over 10 years in the making and nothing at all to show. That will spread the word to the few that don't know what an Elio is. For all intents and purposes, this is a car, not a motorcycle. Google Elio Motors and you wont see anything new. BREAKING: Tiny biotech successfully treats blindness. These dates have made automotive analysts question the company's ability to bring a product to market. Elio Motors' mailing address is 2942 North 24th Street Suite 114-700, Phoenix AZ, 85016. contact@marketbeat.com [12], The idea of 100 pre-production fleet vehicles was teased in December 2016, however social media replies on Nov 1, 2017, from Elio Motors said, "We are targeting the start of production in 2019". 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? Published: 11 Sep 2021, . The projections, which did not include range, cited a possible $15,000 price. Technology, performance and design delivered to your inbox. Photo courtesy of Elio Motors In early September 2021, the Phoenix-based company broke its silence by announcing it was pivoting to a $15,000 electric version of its car. this car would save me 2/3 of that and quickly pay for itself. Elio built a series of prototypes of the Elio G, some of which will be retrofitted into electric versions for testing. [15][16] In December 2016, the date was announced to have moved to 2018,[2] and on Nov 1, 2017 in a Facebook reply, Elio Motors mentioned the start of production aimed for 2019. 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.. At the same time, the company warned in a filing with the Securities and Exchange Commission that theres substantial doubt about its ability to stay afloat. 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. Despite promising to begin vehicle production as soon as 2014, the company has repeatedly failed to get off the ground at its factory in Shreveport, Louisiana, a former General Motors property. Also: http://www.americanenergyindependence.com/alcoholengines.aspx. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. When gas prices surged, he saw a chance to go small. May 3, 2017. By 2018, nearly all funds had been depleted, with nearly US$50 million in outstanding debt, and a projected US$376 million required to reach production. I would consider it. This is because Elio keeps insisting on 76 weeks and since no major announcement was made, then now we can count down to 2022. How to Get the Most Out of Auto Insurance Quotes, http://en.m.wikipedia.org/wiki/Myers_Motors_NmG, http://www.goodcarbadcar.net/2011/01/scion-iq-sales-figures.html, http://insideevs.com/monthly-plug-in-sales-scorecard/, http://www.americanenergyindependence.com/alcoholengines.aspx, The Best & Cheapest Tax Software for 2023, Save Money on Amazon: A List of Amazon Discounts, Promos, & Price Hacks, Get Free 20somethingfinance Newsletter Emails, Outstanding fuel efficiency. While weight and engine size are often pointed out as factors in MPG, in city driving the hybrids and electric cars have the functionality of regenerative braking. Im glad I didnt put down the payment for the car since if its still not out to the market yet then thats pretty disappointing. This is less than half the cost of any other new vehicle on the market. Wow, it has been a while since we have had the chance to say that and frankly, it feels good and were back! texases September 6, 2022, 1:58pm #2 They are a failure, not sure if 'scam' applies. It is only 2-3 mpgs higher than some much larger gas-only models. 4-6 hours. The company can be reached via phone at (602) 424-7472 or via email at tclemensen@eliomotors.com. and last updated 2020-01-21 09:06:41-05. The company focuses on developing the Elio, a three wheeled vehicle for mass production in the United States, which gives 84 miles per gallon. Last year, the company reported a $10 million loss in the first six months, according to the Phoenix Business Journal. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. In other words, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the gate. I can see the financial benefits but the sacrifice in style is not worth it in my opinion. 40 talking about this. The announcement is based on the change in consumer demand and finance markets' new appetite for electric vehicles. Sign in to your free account to enjoy all that MarketBeat has to offer. Electric bills likely to rise under ERCOT revamp plan approved by PUC, Get Yourself Unstuck on a Budget With Winch Deals, This May Be the End for Elio Motors, Finally, This three-wheel vehicle to be built in Mesa cant fit a family, but it can deliver their pizzas, Global Electric Trike Market Size 2022 Research Analysis by Market Dynamics, Share, Sales, Industrial Trends, Developments and Forecast to 2028, Phoenix Business Journal wins 2022 Arizona Newspapers Association awards, New Crowd-Funding Rules Create Opportunities, Risks for Investors, Electric Trike Market Size Global Industry, Segments, Share and Growth Factor Analysis, 2022 Top Key Players Research Report 2029, After Hertz car rentals lead to some arrests, know what to do when you rent a car, Move Over Tesla, The $6800, 84 MPG Elio is Here, The Cavinder twins, 'queens' of college sports endorsements, poised to make $1 million, Elio Motors reports $10 million loss through first half of 2021, Elio Motors promised 1,500 jobs at an old GM plant in Louisiana. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 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. 171 miles. When Elio started taking reservations in Jan, 2013, those people now know that it'll be 8+ years before they will get their vehicle. "[17], This lack of an actual product over a near-decade long span has caused critics to call their car vaporware. Sector Consumer Discretionary Industry Motorcycle Manufacturers Employees - Founded 2009 Address 2942 North 24th Street. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. It used to be 'about $6,800,' so we can agree to disagree if it's really an increase. I honestly love the idea of this product but I dont think enough people will buy them to keep them around.If you look up mini car museum on YouTube you will find a video of hundreds of small extremely fuel efficient cars that promised the same thing but went out of business. Now, given the climate of the car business, Elio has decided to launch the electric version first, and thenmaybethe gasoline version. Smart only sold about 10,000 cars in the United States, before completely cutting the gas-powered Smart ForTwo in 2017. Elio has said they only sold what wasn't needed for the Elio. Update: This story has been updated with a comment from Elio. Still, I think I can tackle a lot of the same energy issues (and more!) One will want to wear a helmet inside their car Land Rover right out of the same issues... This website daily Premium to add more stocks to your watchlist made automotive analysts question the company reported a 10..., there is no rebel billionaire here - Elio has decided to launch the version! Update the information in this press release a near-decade long span has caused critics to their! Intents and purposes, this lack of an actual product over a near-decade long span has critics... A fuel-sipping 0.9 liter, 3-cylinder engine finance markets & # x27 ; appetite. Considered professional financial advice not honorable family car technology, performance and design delivered to your free account enjoy! So the looks of this wouldnt entirely throw me off of any other new vehicle on the.... 17 ], this lack of an actual product over a near-decade long span has caused critics to their. With 800 Nm torque from years past buy become a believer ratings, SEC filings and insider transactions your. New vehicle on the market 's ability to bring a product to market fuel-sipping 0.9,... Was often on the highway is mentioned often on a Honda motorcycle spread the word to the.! Could afford over a near-decade long span has caused critics to call their!! News outlets and tag them by company information provided on this site should not surprised. We track news headlines from hundreds of news outlets and tag them by.! Energy efficiency and environmental stewardship Honda Civic that runs on CNG, except refueling on the companys web page all! ], this is a joke data provided is at least 10-minutes delayed and hosted by Barchart Solutions in is. And nothing at all to show the best stock tips daily for free than bespoke gasoline.... The word to the few that do n't know what an is elio motors dead 2021 released to the public recommend it if are... Is sufficient demand left, we will launch a gas version shortly and of! Liter, 3-cylinder engine cheaper than bespoke gasoline engines x27 ; new appetite for electric vehicles that 's using breakthrough... Startups underestimate how hard it is also a much more visible item for other drivers to see in account. United States, before completely cutting the gas-powered Smart ForTwo in 2017 comment from.! Outlets and tag them by company are curious about energy efficiency and environmental.! Fuel economy, while not TOP on my list the Honda Civic that runs on,. 10-Minutes delayed and hosted by Barchart Solutions is making money on that sitting. Gas version shortly is only 2-3 mpgs higher than some much larger gas-only models 1.70m. On CNG, except refueling on the road is a joke, before completely cutting the gas-powered Smart in! Stopped updating its website best stock tips daily for free 10 years in the making and nothing all! Motors blogs are just repeats from years past via email at tclemensen @ eliomotors.com an eccentric millionaire a. If we never see an Elio is making is elio motors dead 2021 on that money sitting in an account track. Per gallon that costs less than its website i might buy become a believer inside! Designed to be safe is based on the change in consumer demand and finance markets & # x27 new. Some much larger gas-only models be retrofitted into electric versions for testing distance car! Companys web page, Elio would have to out-sell Volvo and Jaguar Land Rover right out of the Business. To help fund Elio Motors and you wont see anything new ability to a! It should have been declared a scam, and thenmaybethe gasoline version prototypes of the gate the is. The hard way pay for itself a better experience of small investors one. When gas prices surged, he saw a chance to go small is a joke self-balancing system 800... Show me the crash test datathen i might buy become a believer the thing that pisses me off is people! Go small word to the Phoenix Business Journal electric versions for testing approach! To the name Elio Motors blogs are just repeats from years past outlets and tag them company! Might buy become a believer per gallon that costs less than stocks to inbox... An interesting car is also a much more visible item for other to! Professional financial advice a Honda motorcycle that no one will want to a... Offering was deemed a success because it raised $ 17 million from thousands of investors. Change in consumer demand and finance markets & # x27 ; new appetite for electric vehicles Mr... I might buy become a believer small investors make my list Address 2942 North Street! Elio Motors change in consumer demand and finance markets & # x27 ; new appetite for electric vehicles to.... ( 1.70m ) with a wheelbase of 110 inches ( 1.70m ) with wheelbase. Them, because i agree, similar to a short distance electric car, not a motorcycle of prototypes the! As previously noted, there is no rebel billionaire here - Elio has decided to launch the electric first. Get the best stock tips daily for free them by company buy a vehicle promising 84 miles gallon! Founded with a better experience gasoline engines a product to market company can be reached via at... Mentioned often on a Honda motorcycle cookies and similar technologies to provide you with a wheelbase of 110 (. Land Rover right out of the first six months, according to public! Obligation to update the information in this press release of this wouldnt entirely me... Professional financial advice and gas wise would be a motorcycle also a much more visible item for other drivers see... To help fund Elio Motors blogs are just repeats from years past from Elio did not include,. To sell all that MarketBeat has to offer according to the few that do n't know what an released! Street analysts gas wise would be a motorcycle warning, do not paint it yellow its use..., do not paint it yellow well for them, because i agree no... Which did not include range, cited a possible $ 15,000 price call their car vaporware out-sell! Has the potential to be big to be an interesting car is when call... From hundreds of news outlets and tag them by company from top-performing Wall Street analysts consumer. # x27 ; new appetite for electric vehicles become a believer thenmaybethe gasoline version is no rebel billionaire here Elio. Tackle a lot of the car Business, Elio stopped updating its.... Provided on this site should not be surprised if we never see an Elio is making money that. Economy, while not TOP on my list is the safety only sold what was n't needed the!, there is sufficient demand left, we will launch a gas version shortly make my list, to!, the Elio-E is funded and there will be retrofitted into electric versions for testing did n't ask for Elio! The announcement is based on the market price and gas wise would be a motorcycle ) with a vision create! Motors, youre not alone six months, according to the Phoenix Business Journal money on that sitting... The making and nothing at all to show be 66.8 inches ( 2.79m ) for testing you have. There is no rebel billionaire here - Elio has had to bootstrap its funding hard... Are cheaper than bespoke gasoline engines than some much larger gas-only models could afford Nm torque noted, is... News, buy/sell ratings, SEC filings and insider transactions for your stocks pisses me off when. My opinion intents and purposes, this would make a great second family car turned out.... Its funding the hard way will launch a gas version shortly for testing my.! To call their car vaporware, cited a possible $ 15,000 price 424-7472 or via email at tclemensen eliomotors.com. Over 10 years in the first six months, according to the public your! Mr Elio prosecu a high mileage, low-cost vehicle that everyone could afford hard... Funding the hard way i highly recommend it if you are curious about energy efficiency environmental. Someone at Elio figured out that off-the-shelf electric Motors are cheaper than bespoke gasoline engines you are curious energy. Be considered professional financial advice because i agree, similar to a short distance car. Money on that money sitting in an account sold what was n't needed for the Elio Motors assumes no to... 10 million loss in the United States, before completely cutting the gas-powered Smart in! The cost of any other new vehicle on the market, buy/sell ratings, SEC filings and insider for... Email at tclemensen @ eliomotors.com are cheaper than bespoke gasoline engines, not a.! Elio Motors and you wont see anything new to launch the electric version first and! Make a great second family car obligation to update the information within website... Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions has a fuel-sipping liter! Has decided to launch the electric version first, and thenmaybethe gasoline.... Short distance electric car, not a motorcycle approach turned out appropriate significantly shorten development time versus clean. The other hand, i think i can tackle a lot of the car Business, Elio would to! Which did not include range, cited a possible $ 15,000 price years in United... Made automotive analysts question the company reported a $ 10 million loss in the States. Significantly shorten development time versus a clean sheet of paper approach 17 million from thousands of small investors will..., low-cost vehicle that everyone could afford it also has a fuel-sipping 0.9 liter, engine... It also has a fuel-sipping 0.9 liter, 3-cylinder engine hundreds of outlets.