While at the New York Auto Show on Thursday, the Mayor of New York City, Michael Bloomberg, announced that the X Prize Foundation and Progressive Insurance have partnered to offer a $10 million dollar purse for a 100 MPGe vehicle.

The contest, officially called Progressive Automotive X Prize competition, is an international competition designed to promote the design and construction of a viable fuel efficient vehicle, capable of 100 MPG equivalent. Thus far, 60 teams from around the world have signed a letter of intent to join the competition, which include Hybrid Technologies from North Carolina and Tesla Motors from California, just to name a couple.

The $10 Million dollar prize will not come easy. A number of factors must be taken into consideration including cost, performance, safety, emissions, and marketability. In addition, the final selections will take part in cross country stage races in 2009 and 2010.

This is not the first competition that the X Prize Foundation has sponsored. They are best known for the Ansari X Prize, another $10 million dollar competition focused on a private suborbital spaceflight. The foundation is an educational nonprofit whose mission is to bring about radical breakthroughs for the benefit of humanity by holding large dollar competitions to solve some of the world's greatest challenges.

“The Progressive Automotive X PRIZE is a call to action to promote and inspire innovation,” said Dr. Peter H. Diamandis, chairman and CEO of the X PRIZE Foundation. “The environmentally friendly cars created as a result of this competition will affect everyone who drives in ways we can’t even imagine today. Let the race begin!

GreenAuto is certainly excited about this competition and will be following it closely. Stay tuned for updates.

Be Well and Stay Green!

Last update : 03-23-2008 02:25

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