Cooper Tire, Elio Motors Sign Letter of Intent to Work Together

Cooper Tire & Rubber Company

and Elio Motors, Inc., today announced that they have signed a letter of intent to work together. Elio, headquartered in Troy, Michigan, is 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 intends to supply Elio tires as original equipment on the innovative 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, Louisiana, using