Elio Motors Turns to Bosch for Safety, Powertrain Components
Disruptive, High-Mileage Vehicle to Feature Content from Global Leader in Automotive Technology
PHOENIX, Dec. 15, 2016 /PRNewswire/ -- Elio Motors, Inc. (OTCQX: ELIO), the startup vehicle manufacturer planning to launch a three-wheel vehicle that will get up to 84 mpg with a set base price of $7,300*, today announced that it has turned to Bosch, a leading global supplier of technology and services, for key safety and powertrain components.
Bosch will provide several mission critical safety components including the airbag control module, and front and peripheral airbag sensors. In addition, Bosch will supply several sensors for the Elio's powertrain.
"Having Bosch's wealth of vehicle safety knowledge and engineering expertise is a significant win for our company and ultimately for our future customers," said Elio Motors founder and CEO Paul Elio. "Vehicle safety has been and always will be our top priority. We are assembling an extraordinary group of suppliers and Bosch is an excellent addition."
The Elio is engineered to the highest safety standards. Each Elio comes equipped with the Elio Safety Management System that includes three airbags, a unibody frame, Anti-Lock Braking System, and traction and stability control.
"Elio Motors' commitment to vehicle and passenger safety aligns with our core values at Bosch," said Tony Szczotka, regional business unit leader at Bosch for Two-Wheeler and Powersports in North America. "We look forward to providing technologies from Bosch that enhance driver safety and comfort."
About Elio Motors
Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheel Elio is engineered to attain a highway mileage rating of up to 84 mpg, while providing the comfort of amenities such as power windows, power door lock air conditioning and cruise control, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio's first manufacturing site will be in Shreveport, Louisiana.
Having established a regional presence in 1906 in North America, the Bosch Group employs some 28,700 associates in more than 100 locations, as of April 1, 2015. In 2015, Bosch generated consolidated sales of $14 billion in the U.S., Canada and Mexico. For more information, visit www.boschusa.com, www.bosch.com.mx and www.bosch.ca.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). According to preliminary figures, the company generated sales of more than $78.3 billion (70.6 billion euros) in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2015, Bosch applied for some 5,400 patents worldwide. The Bosch Group's strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life."
Exchange rate: 1 EUR = $1.1095
Forward Looking Statements
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company's periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the Company on the date of this press release. Elio Motors assumes no obligation to update the information in this press release.
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*MSRP for non-refundable reservations only and applies only until non-refundable and refundable reservations total 65,000. Total current reservations can be seen at: www.eliomotors.com. MSRP excludes destination/delivery charges, taxes, title, registration, and options/installation.
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SOURCE Elio Motors, Inc.
Released December 15, 2016