Progressive Automotive X PRIZE to Award $10 Million

Progressive Automotive X PRIZE

At the recent New York International Auto Show, the X PRIZE Foundation and Progressive announced that Progressive will serve as the Title Sponsor of the Progressive Insurance Automotive X PRIZE competition and provide funding for the $10 million prize.

The Progressive Automotive X PRIZE is an international competition with a $10 million prize purse that is designed to inspire a new generation of viable, super fuel-efficient vehicles. The competition is open to teams from around the world that can design, build and bring to market 100 MPGe (miles per gallon energy equivalent) vehicles that people want to buy, and that meet market needs for price, size, capability, safety and performance.

The window for applications is open until mid-2008, when a qualification process will take place. Qualifying applicants will then race their vehicles in cross-country stage races in 2009 and 2010. The winners will be the vehicles that exceed 100 MPGe, meet strict emissions standards and finish in the fastest time.  To date, more than 60 teams from nine countries have signed a Letter of Intent to compete for a share of the prize purse.  Information for potential applicants is available in the Prize Details section of the Progressive Automotive X PRIZE website.

Video of the recent announcement in New York (in three segments) is provided below:

For more information: