Elio Motors has just pulled its IPO, per SeekingAlpha, a shocking move for, wait, no, a not shocking move for America’s sketchiest car company. It has only been a day since the once-hyped company pivoted to crypto currency and nothing is off the table.
Troubled three-wheel car startup Elio Motors netted a $2.5 million lifeline on Tuesday from online retailer Overstock.com—yes, that is still a thing, as is Elio, for now—and confirmed it is indeed going crypto, something we alluded to a week ago. Elio said its “security token offering,” likely to be called ElioCoin,…
The last time we checked in with three-wheel budget car startup Elio Motors, it had $4,000 cash left in the bank, and it was attempting to raise $100 million from investors on Wall Street. Adamant that it’s still looking to launch production of the three-seat Elio vehicle in 2019, the company is apparently turning to…
Back in July, the state of Louisiana fined Elio Motors $545,000, saying it’s operating as a “manufacturer” and therefore should have a state-issued license to accept non-refundable deposits for its proposed three-wheeled ride. Elio vowed to appeal the decision, and on Tuesday it delivered, challenging the fine in…
SHREVEPORT, La.—When Mark Jones took over the Chevron gas station he owns here more than three decades ago, it was in a sleepy and undeveloped part of town. Quickly, though, things changed. A nearby General Motors truck assembly plant opened in 1982 and gave way to a crush of development. Neighborhoods sprouted to…
While Elio Motors is looking to find investors to raise up to $100 million, the startup has hired a pair of former Trump campaign officials as lobbyists for its cause, according to a new report from The Daily Beast. The reason? The federal government still doesn’t consider Elio’s three-wheeled autocycle an…
Earlier this month, Elio Motors announced that it aimed to raise up to $100 million as part of a proposed public offering—and the company’s latest report to the U.S. Securities and Exchange Commission shows the funding is sorely needed: Elio has $40,000 in cash remaining, according to the company’s semiannual report.
Elio Motors, hamstrung by repeated delays to deliver on a longshot bid to produce a futuristic three-wheeled vehicle, is looking to raise up to $100 million, according to a proposed public offering filed on Thursday. The filing revealed the company has again delayed when it expects to produce and deliver the car by…
Last week, the state of Louisiana fined Elio Motors $545,000, saying the company is operating as a “manufacturer” and therefore should have a license to accept non-refundable deposits for its proposed three-wheeled ride. That’s not great.
This month, Elio Motors had a whopper of a deadline: have a manufacturing facility developed in Shreveport, Louisiana, that employs at least 1,500 people, or face a significant financial penalty. Yet with $376 million needed to begin production on its three-wheeled vehicle, even the company’s founder knew that was…
Things haven’t been well lately for nascent three-wheeler startup Elio Motors: It needs $376 million to start production and a Louisiana lawmaker wants to launch an investigation into the deal for a shuttered General Motors Plant in the City of Shreveport where Elio set up shop. Now, commissioners in the Louisiana…
Elio Motors filed its latest reports with the Securities and Exchange Commission, and the three-wheeled auto start-up’s future looks even bleaker than before: according to its latest 1-K form, filed today, Elio says it wants production to begin in 2018, but it needs $376 million to make that happen, up from the…
The last time we checked up on Elio Motors, the automaker with hopes of producing a weird three-wheeled street car with a ridiculously low selling point, it was staring down a $123 million deficit with only about $100,000 in the bank. But it hasn’t built a single car yet. So a lawmaker in Louisiana, which facilitated…
Elio Motors, the company that keeps delaying its three-wheeler street car with a price so cheap it’s almost too good to be true, may never get one of those cars on the market. If that doesn’t come as a surprise to you, this may: Elio says it has about $100,000 in the bank and an over $123 million deficit.
We’ve been talking about the three-wheeled Elio for quite some time now, from the bad, to the questionable to the good. Well, we don’t really have much in the ‘good’ category, but let’s just say I really like the idea of a cheap-three-wheeled car. One thing that’s been consistent has been the planned price: $6800. Now…
Elio Motors was founded in 2009 for an ambitious effort: bringing 3-wheeled, fully-enclosed trikes capable of achieving 84 miles per gallon to market for just $6,800. The company began taking “refundable reservation agreements” as much as $1,000 in 2013, for a debut on July 2014. Then the third quarter of 2015. Then…
We don’t really know when, or even if, anyone can actually buy a car made by Elio Motors. However, you can configure your futuristic transport machine on a program that looks to have been developed sometime around 1998.
Elio Motors aims to be the first successfully crowdfunded vehicle manufacturer. Its social media pages solicit donations with big dreams and tales of even bigger successes yet to come. But now that Elio wants to sell shares in the company, its first financial filings with the government paint a much more somber and…
Mr. Elio showed off his newest Elio Motors P5 prototype today at the LA Auto Show, surrounded by an applauding crowd of freaks, fools, and local amateurs. Here is the halfway not-a-car that they so desperately desire.
