2014 they said

If these assholes would have just used as many off the shelf parts as they could this fucking thing would of been on the road by now.

the fear of driving

gas2.org/2017/01/25/sick-of-waiting-elio-motors-trike-owners-start-filing-lawsuits/

Jan 25, 2017
With bad financial news coming out of Elio Motors’ official SEC filings and even more announced delays in production of the Elio three-wheeler, many reservation-holders are getting sick of waiting. They’re so sick of waiting, in fact, that at least one Elio “owner” has decided to take the company to court in a bid to get his money back.

Reddit user jimmybob479 announced on the popular message board that he had filed a lawsuit against Elio Motors in his home state. His original post read, “I looked up their registered agent in my state, filed a small claims lawsuite with my local justice of the peace and paid to have a constable serve the papers to their registered agent. Anyone else done this yet?”

That last question opened up the floor to other commenters, who said things like, “They (Elio Motors) deserve all the hellfire that will soon be directed against them. They still don’t appear to have an actual prototype on the roads now seven years after the debut of P2 in February 2010, which is when they began making these fantastic claims,” and “They might not even have enough money in the bank to pay you back your deposit.”

As of this writing, there was no word posted to the /eliomotors subreddit regarding the results of the lawsuit (which, in all likelihood, won’t get its day in court for some time), but I’ll keep checking in on it to if when other Elio “owners” get the message and start to clamor for their money back, as well.

Elio didn't sell a vehicle. They cleverly only sold a position in a queue of which the money could be applied towards a vehicle purchase. Good luck on refunds.

only cringy reddit faggots call people cagers bud

I don't fear anything. Safety and emission standards is the law retard. Im all for deathtraps

>government ruins everything again

>only cringy reddit faggots call people cagers bud
>only cringy reddit faggots call people bud faggot

>Lots of competition in the $15k range.
I thought the Elio was supposed to be like $7k?

They had $124 million in money from all those people putting down deposits for their place in the line. So how much of that money went into Paul Elio (and friends and family) pockets? Let's see, how many R&D companies can each of them create? The mother can create the Pizza R&D Company that charges $1000 per pizza delivered to the executive corporate staff. And so forth. There are lots of ways to milk the money out.

>government ruins everything again
>I thought the Elio was supposed to be like $7k?

The Elio was not really meant to make money from consumer sales although that has profit. The real money was through use of a loophole called CAFE Credits. The company would make vehicles and even if customers bought and "returned" them (after 1.1 years and Elio Motors would find a way to drag out the return), the CAFE credits would be sold to the desperate automobile companies always wanting ways to make gas guzzlers without penalty.

However, the LACK of government (simplifying government) under Trump threatens the loophole. As Trump said, removing tax loopholes was one of his tasks. Trump's appointment Pruitt to head the EPA is against CAFE credits. Car manufacturers should build cars on merit and not by purchasing merits from others to offset their own lack of merit.

So, in this case, having more government (Hillary) would have benefitted Elio Motors. Elio Motors has a lot of debts due Sept 2017. So if they don't get loans from the USA Government (which they probably will never repay to the taxpayers), the company will go under.

But the $124 million dollars has gone into the hands of someone. Since the amount of physical capital the company has is very little, where has the money specifically gone? Of course they won't say, and like a lot of other companies that take money without delivering, the secrets will go to the grave with them.

Facetious Fake Guesses:
Elio Daughter --> $100K annual salary for making coffee
Elio Brother --> $200K annual salary
Elio Mother --> $100K annual salary
Elio Dog Inc --> $40K salary for guard dog duty

And the benefits for each would be substantial such as per diem.

How else does a company piss away so much money with so little physical material to show for it? Especially when they claimed they had most everything done to begin with....

>2014 they said
Reading the SEC filing carefully, a huge amount of the investors' principal of approximately $125 million has been consumed by the investors. In 2013, Elio Motors triggered a default clause, thus causing investment repayments to be at 18% interest. Nice Return! The terms required the interest to continue through 2014. So 2014 again returns 18% interest to the investors. This feels like a clever pyramid scheme already. And yes, once again the clause was triggered so the 18% interest continues thru 2016 and to september 2017.

Very nice. That's a clever way to guarantee 18% minimum return and eat up all that money the small people gave to Elio Motors to develop the thing. Elio only has to keep delaying and using the huge 18% repayments to the investor instrument.

At the end, nothing is left because the if done cleverly, the investor instrument will be owed at least $1 which makes it the owner of the IP and not the individual investors due to George Bush SENIOR's changes to corporate bankruptcy where other corps and instruments have priority over individual investors for the assets.

But all of you wanted it that way since you wanted corporations to rule. Otherwise, if the people rule that is communism.

It's now 2019 and Elio is in production.

>Why is it those tiny car concepts never seem to go anywhere?

Tra la la.
I'm driving down the road in my Land Wind X8.
Elio runs the stop sign and gets in front of me!
*crash*

I can't believe it.
My Land Wind is intact but for some scratches on the front bumper and broken grill.
But the Elio Driver is dead.

>three wheeled concept vehicle that promises tons of EM PEE GEES and low cost doesn't seem to go anywhere

Sad thing is, there's already 2 other three wheelers on the market that aren't doing too bad. Drop a 'busa mill in it, or a dorito special, or literally anything that makes enough power to make it fun to drive. Except of course the whole thing was a scam, and scams always pay way more in the end.

I only have one question about this car. Would it be able to DORIFTO?

Didn't that free fall down recently because of the weather?
>tfw

>Didn't that free fall down recently because of the weather?
The redwood drive-through tunnel tree that Elio used is the Chandelier tree. The drive-through tunnel tree that fell down was the Pioneer Cabin tree.