19 Feb ’12
KVR said
they just got 17 million in crowdfunding and are now saying end of 2016
Anyone want to bet their will be another round of setbacks?? Biggest scam going (imo). 50,000 reservations? I predict 50,000 disappointed upset people.
I would agree at this point, seems like this would have all been taken care of if they were shooting for 2015
“So far, 2016 is off to a fast start. In addition to reaching the 50,000-reservation mark, Elio Motors recently closed its Regulation A+ stock offering, raising over $17 million. As we’ve shared, financing is our biggest challenge and the money we raised is a nice boost to our effort to get to production.”
The statement continued to explain use of new funds;
“Those funds are currently being put to use in building the E-Series, which will help us with finalizing our engineering in such areas as durability, aerodynamics, and safety. We’re excited to build these vehicles and, oddly enough, just as excited to tear them apart. It’s a huge step in our development and a big part of our mission to get to production.”
Elio is predicting that vehicles will be moving off the assembly line towards the end of this year.
The Rock River Times reports that Elio is also in the queue to receive a $185 million loan from the government;
“…reports are that they are awaiting approval of a $185 million loan from the Department of Energy Advanced Technology Vehicles, while the Italian company Comau is helping with refurbishment of the plant equipment and sale.”
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