X PRIZE Foundation Announces $10M Prize for 100 MPGe Vehicle
(worldcarfans) - X PRIZE Foundation, in conjunction with insurance giant Progressive is relaunching its sponsored automotive competition as the Progressive Automotive X PRIZE. It is what exactly? Simply, an international call to action for anyone who can design, manufacture and market a 'desirable' environmentally-friendly car capable of 100 mpge. That's right, 161km on 3.8 litres of fuel (energy equivalent).
"The environmentally friendly cars created as a result of this competition," enthuses Dr Peter H. Diamandis, chairman and CEO of the X PRIZE Foundation, "will affect everyone who drives in ways we can't even imagine today. Let the race begin!"
The entry cars have to meet stringent emissions targets, safety standards, sell at a reasonable price and perform to acceptable levels. Basically, an M3 that runs on sea water. But is it possible?
Well over 60 teams from nine countries - and counting - have already signed letters of intent, showing that they are willing and able to compete for the ultimate prize of 10 million big ones. The Progressive Automotive X PRIZE big wigs will assess all entries based on business plan, sales viability, reliability, safety and cost and finalists will have their cars tested under all sorts of conditions. Winners will be declared as the ones whose entries show a 100mpge figure after all the testing.
"This competition will result in more choices of more fuel-efficient vehicles for drivers and will be a catalyst for moving this technology forward, faster," says Glenn Renwick, Progressive CEO.
So you think you can turn that garage box cart of yours into a 10 million-dollar enviro-sports car? Visit Progressive Automotive X PRIZE for an entry form.