Monday, September 11, 2017

Is the Elio Motors a scam? Yes, it was!

According to a recent article I read in Clean Technica, Elio Motors has delayed the launch of its planned electric 3-wheeler once again, this time until 2018, according to a recent update by the company posted on its Facebook page. It should be remembered that the company had originally planned to have its trikes on the road by 2015 (the company was founded in 2009). So what's going on?

Apparently, the company is apparently having some financial problems, this according to some reports. Of course, some in the industry have claimed for years that the whole thing is a scam and that the trike would never be mass produced. Really?

Autoblog reports, “As of September 30th (2016), the company had $101,317 in cash, down from $6.87 million at the beginning of last year. And while it has collected $24.8 million in non-refundable customer deposits, the company also had $30.7 million in current liabilities, up from $20.2 million at the beginning of the year. Through September 30th, the company’s net loss widened to $34.8 million from $13.9 million a year.” Wow! I wonder where all that money went? Based on the company’s current deficit, I’d say that it looks like Paul Elio’s dream will never come to fruition, and those who paid to be among the first to own these cars will have to eat their money and call it a tough lesson learned. Although at least those big spenders can say they got a T-shirt and bumper sticker out of it… right?


  1. I am wondering why every year they put it off till the next year to start production. They have collected a ton of money and if they don't start production soon, the Trump Administration may be checking to see if this is a total rip-off. I am beginning to think it is.

  2. When did this non-existent car become electric? Last time I saw, it was a gas-powered thing, powerplant from Europe.

    Bankruptcy will be interesting.