History
The X Prize Foundation began work on the development of a competition to spur innovation in the automotive industry in 2005 and on 6 March 2006 announced that Mark Goodstein would join the Foundation as an Executive Director of the new prize. A little more than year later, on 12 April 2007, the Foundation formally announced the creation of the prize at the 2007 New York Auto Show and set the purse at $10 million for a car that could get 100 mpg (2.4 L/100 km; 120 mpg) and be sold for a reasonable price. In the subsequent year, the X Prize Foundation solidified sponsorship for the prize and on 20 March 2008 announced that Progressive Insurance would be the Title Sponsor of the Prize and fund the $10 million purse. From that point onward, it was known as the Progressive Insurance Automotive X Prize (PIAXP).
At the 12 April 2007 announcement of the creation of the X Prize, the Foundation released draft Competition Guidelines, which were open for public comment from 2 April to 31 May 2007. The latest guidelines were published on 10 January 2009. The competition guidelines are the product of hundreds of volunteers of the AXP and world-class advisors.
On 7 April 2009, the X Prize Foundation announced that 111 teams had registered by the February 2009 deadline. By 20 October 2009, the design judging had winnowed the number of teams down to 43, with some publicly, and others quietly, withdrawing. The formal vehicle competition events began on 26 April 2010, and consisted of the remaining four stages: Shakedown (26 April – 7 May 2010), Knockout ( 16–30 June 2010), Finals ( 19–30 July 2010) and Validation (August 2010).
Read more about this topic: Automotive X Prize
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