Looking for a cheap commuter car? The Elio could be your answer — if it ever sees the light of day!
Elio needs more money
I’ve gotten dozens of calls about a 3-wheel car called the Elio. You have to pay a nominal fee to reserve this car. In fact, they’ve received many tens of thousands of reservations.
Many people have asked me what I think about the Elio. The idea of a commuter car geared to 1 person that gets 100 or so miles per gallon has real legs.
But Elio now says they need another $230 million to get production going. They’ve apparently spent $65 million and the first car even remotely possible isn’t set to happen until sometime mid next year, according to The Times of Shreveport. (The plant is supposed to be built in that Louisiana city, but right now it is vaporware.)
If you’ve paid a deposit, who knows if you’ll ever receive your car or your money back. But this is something people do because they believe in it. When people have asked me about Elio, I’ve told them they could lose their money.
But I should stress this point: There is no hint of any funny business with Elio. It’s just that the car business is a hard business to get into, which is what makes a company like Tesla so unique. The world is littered with failed car startups. Tesla seem to be the exception to the rule. Let’s hope Elio can mount that hurdle too!