U.S. Department of Energy - Energy Efficiency and Renewable Energy
EERE Financial Opportunities
Automotive X Prize Purse Set at $10 Million
March 26, 2008
The X Prize Foundation officially launched the Automotive X Prize on March 20 and announced Progressive Insurance as its title sponsor for the
prize purse, which will be set at $10 million. The Progressive
Automotive X Prize is an international competition that challenges
competitors to design, build, and bring to market a car that exceeds
100 miles per gallon, or its energy equivalent fuel efficiency, while
meeting market requirements for size, capability, affordability, and
safety. To date, more than 60 teams from nine countries have signed up
to compete for the prize. Applications to compete for the prize will
be taken until mid-year, at which time the applicants will go through
a qualification process to confirm that their cars are production-capable and consumer-friendly.
The three-wheeled Alé from FuelVapor Technologies will compete under the alternative vehicle category.
Credit: FuelVapor Technologies Inc.
The competition will be divided into two vehicle classes: mainstream
and alternative. Mainstream vehicles must carry four or more
passengers, have four or more wheels, and travel 200 miles or more
without refueling. Alternative vehicles must carry two or more
passengers, can have any number of wheels, and must travel 100 miles
or more between refueling stops. The mainstream vehicle winner will
take home a prize of $7.5 million, while the alternative vehicle
winner will garner the remaining $2.5 million.
Qualifying cars will compete in cross-country stage races in 2009 and
2010, and the prize will go to the car that finishes fastest while
meeting the fuel economy requirements and strict air emissions
requirements. Mayor Michael Bloomberg announced that the first stage
of the 2009 cross-country race will start in New York City in
September, and race officials will seek proposals for other cities to
host additional stages of the race. See the Progressive Automotive X
Prize press releases.