Imagine Roush’s turbocharged V8s under your hood. Just kidding…
Elio Motors has taken a major step towards finally launching the long-awaited “ultrahigh-mileage and low-cost three wheel Elio vehicle.” It has signed a memorandum with Roush, which also holds the Roush Performance tuning company, in order to provide a new powertrain. Initial calculations show that the new agreement will result in a savings of up to $120million on research and development.
Paul Elio, founder of the project and CEO, commented that “buying an OEM’s powertrain has a huge impact on the project. It helps both expedite our timeline and directly reduces the capital requirement by approximately $120 million dollars.” The powertrain will greatly improve the Elio’s performance, doubling its horsepower and delivering a class-leading fuel economy at a very affordable price.
Although no details are available about the engine, Elio Motors claims that the new powertrain will improve the vehicle’s performance.
Elio Motors has released a press release explaining that Roush engineers will be integrating the powertrain into an Elio prototype. They will then begin preliminary testing procedures. The company claims that the new powertrain will allow the vehicle to achieve an extremely high fuel efficiency, even though it is still in the very early stages of development and testing.
This new Roush contract should be welcomed, considering the heavy fine from Louisiana’s Motor Vehicles Commission last Year. The company’s financial position is not good, according to reports. It ended 2016 with $120,000 cash and a $24 million deficit.
The automaker originally planned to produce the Elio three-wheeler by the end of 2012. However, this move will likely delay production.