Automotive X PRIZE Collects 60 Potential Contestants -- And a Sponsor

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NEW YORK, N.Y. -- Progressive Insurance stepped up Thursday to fund the $10 million prize purse of the Automotive X Prize competition designed to inspire the next generation of fuel-efficient vehicles.

The contest challenges teams to design and build vehicles that achieve 100 miles per gallon and are ready to be brought to market. The competition received a supporting word from New York Mayor Michael Bloomberg, who was on hand at the New York Auto Show, where the announcement was made.

"The Progressive Automotive X PRIZE is an excellent example of how the private sector can spur solutions to our most complex challenges," Mayor Bloomberg said. "Here in New York City, we are also stepping up to the plate on energy conservation, by transforming our taxi fleet into hybrids and cutting the City's energy use by 30 percent over the next ten years. It's all part of PlaNYC, our plan to create a greener, greater New York."

More than 60 teams from nine countries have signaled their intent to enter the competition. Formal applications will be accepted in two months.

The X PRIZE Foundation is known for its $10 million suborbital spaceflight, Ansari X PRIZE. The end-product are expected to be production-ready examples of vehicles -- not concept cars -- that can withstand cross-country stage races in 2009 and 2010 that combine speed, distance, overall performance and urban driving. Strict emissions standards must be met and the fastest times will be strongly considered.

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