Paul Elio, a one-time stockbroker and New York City cab driver, dreamed as a boy that one day he would own a company called Elio Motors.
After making that dream come true, he's now looking to change the way people commute.
Elio Motors is hoping to revolutionize U.S. roads with a tiny two seat vehicle that gets 84 miles to the gallon with just three wheels.
The vehicle is the same length as a Honda Fit but half the weight. With a starting price of just $6,800, it is also less than half the cost, according to a report by the Associated Press.
The Phoenix-based company plans to start making the vehicles next fall at a former General Motors plant located in Shreveport, Louisiana.
More than 27,000 people have already reserved one, according to the report.
Elio hopes to make 250,000 cars by 2016, which is close to the same amount Mazda sells in the United States currently.
Since the vehicle has three wheels, two in the front and one in the back, it is technically classified as t a motorcycle by U.S. government. But Elio Motors founder Paul Elio says the vehicle has all the safety features of a car.
Safety features already confirmed for the Elio includes: anti-lock brakes, a steel cage that surrounds occupants, and front and side air bags.
Drivers also won't have to wear helmets or obtain a motorcycle license.
The driver's seat is positioned in the center with the passenger is located right behind.
That arrangement, along with the low seating position, since the Elio is just 54 inches tall, will take some getting used to, according to the company.
The Elio has a three-cylinder, 55-hp, 0.9-liter engine and a top speed of more than 100 miles per hour. It goes from 0-60 in 9.6 seconds flat, according to the company website.
The company also confirmed that it gets an estimated 84 mpg on the highway and 49 mpg in city driving.
"If it really gets 84 mpg and doesn't drive terribly, it would justify the compromises you're making in size and comfort," says Karl Brauer, a senior analyst with Kelley Blue Book, according to AP.
Elio will also benefit from selling vehicles directly through its own stores, not through franchised dealers, like Tesla Motors.
They hope to open 60 major stores in metropolitan locations, and Elio Motors has an agreement with auto repair chain Pep Boys to service the vehicles.
Production is scheduled to begin sometime in the third quarter of 2015.
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