NGC Elio Motors 3 wheeler - merged threadfest

[Lannis]

I like the Elio engine shot, JJ, especially the "Do Not Touch" sign-obviously don't want anyone to get a splinter.

.... or leave a dent from a fingerprint in the clay.

Lannis

[Penderic]

Well, I had my doubts when I saw the interior's setup. No cigarette lighter! 

[rocker59]

This reminds me of the "Flying Car" capers that have made the rounds. Moller comes to mind.

If people think that the drones are going to be a problem possibly dropping out of the sky into your patio morning breakfast, think what a flying car would do!

Total madness!

Untill we can manipulate gravity this is a complete pipedream.

:-)

I have wanted a Moller Skycar since seeing it in Popular Mechanics what?  25 years ago ?

edit:  It's this one:

[Lannis]

I have wanted a Moller Skycar since seeing it in Popular Mechanics what?  25 years ago ?

Looks like a person-carrying version of a modern drone!   Probably possible, maybe not feasible.  Or might be.

Like kirby said though, you'll need something close to a Kzinti inertia damper and gravity planer to make it stable enough for regular people to use safely - I don't thing gyroscopes will do it.

AND when someone says they're going to mass-produce them for $50,000, you'd better run the other way.   This'll cost like a twin-engine prop airplane ....

Lannis

[kirby1923]

Those things are the things that dreams are made of to would be flyers.

The reason I brought it up is to just identify another project that will never be funded properly and is most likely to fail but in this idea the technology has not advanced enough to make it feasible.

In the case of aircraft..well what goes up has to come down. If you have a problem while driving or riding you can pull to the side of the road and figure out what to do. Until technology gets to the point that you can just hover or push the reset button that will automatically land/light? these type of personal aircraft will indeed be dreams.

When the technology is available to do this, none of us living today would recognize our world..star wars time.

What would happen if you had one motor/rotor fail on quad drone while in flight? It happens all the time and you get to watch some pretty specular rolls before completely losing control and impact.
Now think about that Moller if one of the lift fans malfunction.

In many ways I'm happy to miss this technology because it will change the world in a very profound way.

I hope its good.

:-)

[Lannis]

What would happen if you had one motor/rotor fail on quad drone while in flight? It happens all the time and you get to watch some pretty specular rolls before completely losing control and impact.
Now think about that Moller if one of the lift fans malfunction.

:-)

And that's quite a likely scenario considering that (unlike the average airplane) these things in their normal operating space would be flying around in the middle of flocks of starlings and pigeons, not to mention buzzards, ducks, and geese.   No one involved, starting with the bird, is going to survive THAT interaction unscathed.

Lannis

[Chuck in Indiana]

The personal flying machine for "everyman" is in the future.. and always will be..

[Triple Jim]

Although it was published last month, I just came across this:

https://www.digitaltrends.com/cars/elio-motors-financial-woes/?utm_source=k1&utm_medium=cpc&utm_campaign=cpc_test&kwp_0=319603&kwp_4=1233903&kwp_1=552682

[Arizona Wayne]

The  Elio is a scam.  I waited for it's reality for years but gave up on it's production last year and bought a used Ford Fiesta instead, which I'm happy with.  Many put $ on this scam but not me.   Every year they said it would be real the next year.  They built a prototype and supposedly even a 3 cylinder motor.   

[Hittman]

Elio is Vaporware. It's never going to happen.

[LowRyter]

The Fiesta is a nice little car.

[Lannis]

Nothing left for Elio but the excuses, the recriminations,  the investigations, indictments, plea bargains, and getting $.02 on the dollar back for the refundable deposits .....

Lannis

[toaster404]

Marketing and money down capitalization were immediate red flag.

Car cannot physically make the mileage it claims.  Impossible.

Every step of the way looked like a scam to us.

We're pissed off.  We wanted one.  Went from "OK" to "what?" in about 20 minutes!

That said, there are this and other three wheel efficient platforms that could be developed into a good three wheel car.  I don't know about adding AC and all that.  Even the CanAm thing could be enclosed and faired and have wheel steering without infinite addition of cash.

[Lannis]

That said, there are this and other three wheel efficient platforms that could be developed into a good three wheel car.  I don't know about adding AC and all that.  Even the CanAm thing could be enclosed and faired and have wheel steering without infinite addition of cash.

Nobody except eccentrics like us would buy it.

Look at what's being bought today.   Look what's driving down the road, with gas under $2/gallon.   Escalades, Expeditions, RAM/F/GMC 3500 Duallies, Chargers.   People have got so much money relative to the actual cost of gasoline that no one is even considering a 3-wheeled anything for the sake of "economy" ....

Lannis

[JJ]

Saw one...sat in it...talked to the reps...at the Barrett-Jackson Auction in 2014.    :1:

My comment:  When I see one on the street, I will believe it...still waiting.






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[JJ]

This is also very interesting from the Elio Motors website....

[nyITguy]

This is also very interesting from the Elio Motors website....

Even more interesting is a quick read through their Reg A filing from 3/31/17. A couple highlights below.

From the intro:
"Since our incorporation in October 2009, we have been engaged primarily in design and development of the Elio and obtained loans, investments and reservations to fund that development.  We are considered to be a development stage company, since we devote substantially all of our efforts to the establishment of our business and planned principal operations have not commenced.  We completed the initial design for the Elio as well as our business model in December 2012.  In 2013, we began accepting reservations for the Elio, purchased manufacturing equipment, built two prototypes and secured a manufacturing facility. During 2014, we sourced suppliers and services providers, built two prototypes and applied for the ATVM loan (described below).  In 2015, we built an additional prototype, engaged in a convertible subordinated note offering, and filed an offering statement with the SEC under Regulation A, which was approved on November 20, 2015 and closed February 16, 2016 after successfully raising $15,819,993, net of offering costs.  During 2016, we continued engineering design and development, created the initial bill of materials, built three engineering prototypes, obtained partial release of reservation deposits from a credit card processing company and pursued additional equity funding.  The primary focus for the three months ended March 31, 2017 has been on raising additional funding through debt and equity offerings.

Cash investment has totaled $27,166,944, net of related expenses, from incorporation through March 31, 2017 and loans have totaled $47,330,659 from incorporation through March 31, 2017.  We have also obtained reservation deposits from persons desiring to reserve an Elio totaling $27,780,260 through March 31, 2017.

While we have raised significant amounts of funding since the inception of our company, designing and launching the production of a vehicle is highly capital-intensive.  We have encountered delays with respect to our development schedule in the past, due primarily to delays in funding.  These funding delays also resulted in our having to obtain extensions from our lenders and lessor.  Fortunately, the lenders and lessor, which are most critical to our future success, have been cooperative.

As described in this report, we are continuing to make progress with respect to the Elio’s development, despite the lack of sufficient cash, due to (1) public support and acceptance of the Elio, as evidenced by the successful crowdfunded Regulation A offering and reservation deposits, and (2) the commitment of persons closely connected to our company, such as Stuart Lichter.  Subsequent to March 31, 2017, Mr. Lichter converted over $8.5 million of loans and accrued interest into shares of Common Stock and extended the maturity dates of other loans to July 2018 and January 2019.  He also controls CH Capital Lending and Shreveport Business Park, which have extended and/or deferred payment terms and waived fees.

We must still obtain relief from Racer Trust with respect to an extension of the maturity date of the note due July 1, 2017 and our agreement to create 1,500 jobs by July 1, 2017.  If we fail to fulfill that agreement, we have agreed to pay Racer Trust $5,000 for each full-time, permanent direct job that falls below the 1,500 target.  We have recorded a current liability of $7.5 million as of March 31, 2017 and December 31, 2016.  Should our negotiations with Racer Trust be successful, we will make the appropriate adjustment to our balance sheet at that time."

And down on page 12:

"As of March 31, 2017 the Company had a working capital deficiency and a stockholder’s deficit of $41,474,034 and $145,906,178, respectively.  During the three months ended March 31, 2017 and 2016, the Company incurred losses of $4,761,773 and $9,494,272, respectively.  These conditions indicate that there is substantial doubt about the Company’s ability to continue as a going concern within the next twelve months from the filing date of this report."

Greg

[Tom]

According to the article, they have to have created 1500 jobs by July 1, 2017 or face a $5K penalty for each job not created in that number. IF I read it correctly.  Sooooo, I don't think so. 

[Tom]

Prototype driven by Chris Fix.  https://www.youtube.com/watch?v=vobEBqEISh8

[JJ]

Prototype driven by Chris Fix.  https://www.youtube.com/watch?v=vobEBqEISh8

The video was well done...the design / concept / car itself is pretty cool...executing it into mass production at that price point is another matter all together.  Again, when I see one on the road...I will believe it!

[Tom]

 :1: "It's on the internet!  It must be real!!"   

[JJ]

I think when the day comes to transition to 3-wheelers, it will be something like this... for me, anyway

The Polaris Slingshot is too big...the Can-Am a little too funky, (although I am seeing more and more of them on the road these days due to the aging of all of us riders!!) 

[Tom]

I'm okay with my Eldo hack. 

[JJ]

I'm okay with my Eldo hack. 

Just for you today, Tom!  :1:

[Arizona Wayne]

I'm OK with my 2 Piaggio MP3s.    Got passed today going to town by a Slingshot? on my 250 MP3.  I was doing 65  mph and it was doing 70 mph.  That sucker is really wide!  Whereas my MP3 isn't any wider than a faired MC and I get 70 mpg.    I know that Slingshot rider paid  as much for it as a car costs and more than I paid for my 2 MP3s.....+ I'll bet I can carry more groceries than he can too. 

[Tom]

Bet he couldn't follow you in the hills.    

Thanks for the pix, JJ.   

[Lannis]

I'd like one too, but this thing has been vaporware for 4 years now, and we all know that the proposed original $6,000 price tag was ALWAYS a hashish-dream, so my sense of anticipation is declining ....

Lannis

Hey, look, we were using the word "vaporware" back a LONG time ago.   

If you look at the dictionary definition of "vaporware", there's a picture of an Elio car there!

The "too good to be true" prognostications were correct ....

Lannis