Adding a turbo to the elio engine would increase power but decrease mpg. The turbo forces more air into the engine to burn more fuel.
When turbos increase mpg, is when an engine is very small and the turbo allows a "normal" amount of fuel to be burned. Because the engine is small, its friction losses are smaller making it more efficient and increasing mpg.
Pitonboy you might enjoy this article.
http://autospeed.com/cms/A_109931/article.html?popularArticle
Also you might read the first part of my signature where I installed a turbo on a 1L engine and tested with 2 other "Stock" 1L Insights.
I am a believer.
I have the best of two worlds, economy and better performance.
Merry Christmas
Willie