The company was founded in South Australia as Elfin Sports Cars in October 1959 by Garrie Cooper, who would go on to be a champion race driver as well as a successful designer and builder of Elfin racing and sports-racing cars. In 1983, following the death of its founder the previous year, the firm was bought by Tasmanian Don Elliott, racing driver Tony Edmondson and mechanic John Porter who re-established the provision of parts and service to existing owners.
Cooper died suddenly on ANZAC Day (April 25) in 1982, at the age of 46, from a burst aorta, due to the vessel's weakness from medication he took to thin his blood after a mid-1970s heart valve operation. Cliff Cooper, Garrie's father, completed outstanding orders, including six new generation Formula Vees, before offering the business for sale as well as designing a new Formula Vee, the Crusader, and a Formula Brabham car.
In 1993, Victorian Murray Richards acquired Elfin and set out to build a new generation Elfin Clubman called the Type 3. In failing health, he sold Elfin to Bill Hemming and Nick Kovatch in 1998 who relocated the business to Melbourne, Victoria.
Elfin subsequently began a collaboration with GM Holden, revealing a concept MS8 Streamliner at the Melbourne International Motor Show in 2004. Limited production of two versions of the MS8 began in March 2006 and after the business was sold to Tom Walkinshaw (of HSV / Walkinshaw Performance) in December 2006, future limited production units were retailed Australia-wide via select HSV dealerships in each state.
