Elio Motors is that annoying inside joke that you just wish everyone would forget about, but they don’t. Part of that is Paul’s eerily brilliant ability to control the media narrative about his ongoing
scam development woes, and part of it is an old adage often attributed to Samuel Clemens that goes, “It is easier to fool a man than it is to convince him that he has been fooled.” As evidence of both, consider Paul Elio’s next move in the ongoing saga of Elio Motors: he’s launching his own cryptocurrency.
Granted, this is old news by now (Jalopnik covered the story a few weeks ago), but Elio himself appeared in Shreveport a few days ago to reiterate that he believes his crypto offering will make Elio Motors “cashflow positive”.
It should be noted that this is the same Elio Motors we’ve been talking about for years. The “we need hundreds of millions of dollars,” Elio motors, described as needing hundreds of millions of dollars by Paul Elio, himself. The one that promised to employ around 1,500 workers by 2015 in a factory that was essentially paid for by Louisiana taxpayers. Taxpayers who have been looking for answers ever since.
If it’s not obvious by now, I think Paul needs to pack it up and go home. I mean, I know he can’t- an admission that he won’t ever build his cars would mean he’d have to face down a lot of refunds, if not lawsuits- but the crypto thing seems to go beyond desperation. The fact that Elio has lost, and lost big, is made even more obvious in light of the fact that Electra Meccanica has begun deliveries of its Solo already … and that company will honor deposits made by Elio hopefuls.
Source | Images: Elio Motors/Overstock.com, via Green Car Reports.