Cooper Tire & Rubber Co. has signed a letter of intent to work with Troy, Mich.-based Elio Motors Inc., an automotive startup pioneering a three-wheeled, two-passenger vehicle expected to compete in the ultra-high mileage category beginning in late 2014.
Once the agreement is finalized, Cooper will supply Elio tires as original equipment on the vehicle, which Elio expects to achieve up to 84 miles per gallon.
Weighing about 1,200 pounds, the futuristic Elio runs on a three-cylinder, 55-horsepower, fuel-injected engine. The vehicle is expected to retail for approximately $6,800 and Elio plans to produce it in Shreveport, La., using components primarily made in North America.
“We are delighted to have Cooper as our tire supplier,” said Paul Elio, CEO of Elio Motors.
“This letter of intent signifies a step forward in American manufacturing and assembly. We are proud that the Cooper tires supplied for the Elio will be manufactured in a U.S. plant and our vehicle will be manufactured in Shreveport, creating American jobs. Elio Motors is determined to use only quality suppliers while pioneering this affordable new road in the automotive industry. We cannot underestimate the importance of a quality tire in making a vehicle both enjoyable and safe to drive.”
“Continued innovation is critical in the automotive business, and Cooper is excited to be working with Elio to develop an innovative tire design to be manufactured in one of our U.S. plants,” said Chris Ostrander, Cooper president.
“Cooper shares Elio’s commitment to this vehicle promoting a sustainable environment. By supplying tires with Cooper’s low rolling resistance technology, Cooper will make a significant contribution toward helping Elio achieve its goal of 84 miles per gallon.”
