Elio Motors

Elio Motors
Private
Traded as OTCQB: ELIO
Industry Automobile
Founded 2009
Founder Paul Elio
Headquarters Phoenix, Arizona, United States
Number of locations
 3 Shreveport, Louisiana; Livonia, Michigan; Phoenix, Arizona
Area served
 United States
Key people
 Paul Elio, founder and CEO
James Holden, Board Member
David C. Schembri, Board Member
Kenneth L. Way, Board Member
Stuart Lichter, Board Member
Hari Iyer, Board Member
Products Three-wheel motor vehicles
Owner Paul Elio
Website www.eliomotors.com
A white Elio viewed from the side
Side view of 3rd generation Elio prototype
Paul Elio sitting in the P4 prototype of an Elio.
Elio Motors Prototypes with the first of the E-Series vehicles

Elio Motors is a company founded by Paul Elio in 2009, in development and fund-raising to manufacture a three-wheeled, enclosed autocycle. By mid-2018, production had not commenced.

The company's three-wheeler is marketed as the Elio P4 and projected by the company to attain a highway mileage rating of up to 84 mpg and offer power windows, a power door lock, cruise control, and air conditioning, in an aerodynamic, enclosed bodywork.

The design is projected to include multiple air bags, anti-lock brakes, traction control, steel unibody frame, and crumple zones.

The company projects that manufacturing could happen in Shreveport, Louisiana.

Specifications

Elio Motors designed a three-wheeled autocycle with two wheels in front, one in back. Advertisements starting in 2017 show an increased base price target of $7,450 ($7,300 for those with reservations). It is projected to achieve up to 84 mpg-US (2.8 l/100 km) on the highway and up to 49 in the city.

As of June 2017, there are five prototypes and three validation vehicles (codenamed: E1-A, E1-C, and E1-D) to test for safety, aerodynamics, and durability. Even though the E1-C is not used for testing, it is the most up-to-date interior with a cosmetically-evolved engine. Elio claims the autocycle could be produced using 80% soft-tooling. [1] Elio's marketing has suggested that 100 pre-production fleet vehicles could be built at its Shreveport, Louisiana manufacturing facility if additional funds are secured.

The vehicle's design includes AC/Heat (projected to be manufactured by RedDOT), AM/FM stereo, power windows/door lock, cruise control, three airbags, a reinforced steel roll cage, side intrusion beams, stability control, and disc brakes with ABS. Continental AG has designed a tire specifically for the Elio.

Elio designs meet motorcycle standards because as a three-wheeled autocycle, it is within the U.S. government's motorcycle classification. The company has lobbied in most[2] states, to alter regulations that would otherwise require drivers to wear a helmet and, in many[2] states to remove the requirement for operators to have a motorcycle endorsement on their driver license.[3][4]

The design targets a curb weight of 1,350 lb (610 kg); three-wheel anti-lock disc brakes; an inline 0.9 liter three cylinder (designed especially for Elio by IAV), 55 horsepower (41 kW) engine; and front-wheel drive, with a top speed of 107 mph (172 km/h) and an acceleration of 0 to 60 mph (0 to 97 km/h) in approximately 10.8 seconds.[5] The vehicle design has an overall length of 160.5 inches (4.08m) and an overall height of 54.2 inches (1.38m). The front track is designed to be 66.8 inches (1.70m) with a wheelbase of 110 inches (2.79m). The trunk space is designed to be 27 × 14 × 10 inches, enough for one airline carry-on bag or golf bag with the rear seat folded down (47+ inches).[6]

Production

Elio Motors is located in Phoenix, Arizona, and has projected that manufacturing take place a facility in Shreveport, Louisiana, using a portion of the former General Motors 3.2 million-square-foot plant.[7] It is projected by the company that upwards of 1,500 people could be employed at the Shreveport facility plus an additional 1,500 at the supply base, if production were to occur. In addition, Elio Motors projtects that 90% of parts for its vehicle would originate in North America.[8]

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". The potential service provider for Elio Motors is Pep Boys which has more than 800 service centers and 7,500 service bays in 35 states. The company started accepting customer reservations on its website in January of 2013 and stopped accepting reservations at 65,341 in 2017.[9] On August 03, 2017, Elio filed with the U.S. Securities and Exchange Commission to have an initial public offering (IPO) for its common stock in order to raise $100 million in capital. In the filing, it said that their vehicle would not be capable of production until 2019 at earliest.[10]

Date Pre-Orders Date Pre-Orders Date Pre-Orders Date Pre-Orders
5/2015 42,410 12/2015 48,325 7/2016 55,950 2/2017 64,708
6/2015 43,188 1/2016 49,202 8/2016 57,769 3/2017 65,236
7/2015 44,126 2/2016 50,414 9/2016 59,468 4/2017 65,351
8/2015 44,962 3/2016 51,286 10/2016 61,166 5/2017 65,325
9/2015 45,634 4/2016 52,404 11/2016 62,582 6/2017 65,341
10/2015 46,036 5/2016 53,542 12/2016 63,428
11/2015 47,311 6/2016 55,021 1/2017 64,308

Criticism and controversies

Elio Motors has continuously delayed the release date, which was originally in 2012. Since then, the date has been pushed back each year.[11][12] In December 2016, the date was announced to have moved to 2018, [13] and on Nov 1, 2017 in a Facebook reply, Elio Motors mentioned the start of production aimed for 2019. These dates have made automotive analysts question the company's ability to bring a product to market. Critics have drawn comparisons to the Lit Motors C-1 and Aptera Motors, which had similar production schemes requiring more funding than was attainable, while updating production timelines to give the impression that a product was deliverable. In an effort to secure a Department of Energy loan, Elio offered advance reservations where the buyer can reserve a spot in line to possibly purchase a vehicle for a base price of $7,450.

According to KTBS news, the car company had a $123 million accumulated deficit with $101,317 in the bank on Sept. 30, 2016. [14]

See also

References

  1. ↑ "Elio Motors debuts e1c engineering vehicle". www.eliomotors.com. Retrieved December 1, 2017.
  2. 1 2 King, Danny. "You won't need a motorcycle license to drive the Elio in 41 states". Retrieved December 18, 2016.
  3. ↑ "Elio Motors Gets Closer to Nationwide Helmet Exemption".
  4. ↑ "Three-wheeled car buyers won't have to take motorcycle test".
  5. ↑ "Features | Elio Motors". www.eliomotors.com. Retrieved 2016-12-12.
  6. ↑ "Features - Elio Motors". Retrieved December 18, 2016.
  7. ↑ Klayman, Ben (January 3, 2013). "Maker of high-mileage 3-wheel vehicles buys former GM plant". Reuters. Detroit: Thomson Reuters. Retrieved January 3, 2013.
  8. ↑ "Elio Motors' Top 10 Things to Love | Elio Momentum v40 | Elio Motors". www.eliomotors.com. Retrieved 2017-01-08.
  9. ↑ "Elio Motors | The next big thing in transportation!". Elio Motors. Retrieved 2016-12-11.
  10. ↑ "Elio Motors Facing Make-Or-Break $100M Bid Through IPO". hybridCARS.com. Retrieved 2017-08-22.
  11. ↑ Torchinsky, Jason (2015-02-04). "40,000 people have paid thousands for an Elio car - will it ever be built?". Boing Boing. Retrieved 2016-08-13.
  12. ↑ https://www.abc15.com/news/let-joe-know/elio-motors-buyer-wants-money-back
  13. ↑ "Zacks Update on Elio Motors – Misinformation Clarified". Retrieved 24 January 2017.
  14. ↑ "Elio Motors further delays production in Shreveport". Retrieved 6 December 2017.
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