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Elio Motors, Linamar Sign Letter of Intent to Manufacture and Market the Elio Engine Across the Globe
Elio Motors, Linamar Sign Letter of Intent to Manufacture and Market the Elio Engine Across the Globe.
About this update from Elio Motors Inc
[{"type":"text","content":"\n\n\n\nElio Motors, Linamar Sign Letter of Intent to Manufacture and Market the Elio Engine Across the Globe\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nElio Motors, Linamar Sign Letter of Intent to Manufacture and Market the Elio Engine Across the Globe\nLinamar to work with Elio engineers to prepare engine for mass production, identify additional global sales opportunities\nPR Newswire\nPHOENIX, May 17, 2016\n\n\n\nPHOENIX, May 17, 2016 /PRNewswire/ -- Elio Motors, Inc. (OTCQX: ELIO), the startup vehicle manufacturer planning to launch a three-wheeled vehicle that will get up to 84 mpg with a targeted base price of $6,800, today announced that it has signed a Letter of Intent with Linamar Corp, one of the auto industry's leading powertrain development and production companies. \n\n\nUnder the agreement, Linamar will partner with Elio for the manufacturing of the Elio motors for Elio, as well as for engines for global use in the automotive, marine and industrial sectors outside of the US. The powerful, highly fuel-efficient 0.9-liter, 3-cylinder engine, which Elio Motors developed with partner IAV, could have applications far beyond the company's initial vehicle. The engine is expected to achieve up to 84 mpg, yet still reach speeds of more than 100 mph.\n\n\"Elio Motors has developed an engine with a rare blend of power and fuel efficiency that could have significant market potential beyond powering the Elio,\" said Elio Motors founder and CEO Paul Elio.  \"Linamar will use its global presence and access to international manufacturers in automotive, marine and industrial markets to identify other uses for our engine and open up potential additional revenue for our company.\" \n\nLinamar also will be a component and sub-system supplier for Elio Motors' other driveline and chassis systems in North America. They will collaborate with Elio Motors to create engine manufacturing capabilities at the Elio Motors' assembly plant in Louisiana to support the high-volume production of the Elio engine. \n\n\"We are excited about partnering with Elio on this important...