Progressive Insurance Automotive X Prize
The Progressive Insurance Automotive X PRIZE (PIAXP) is a set of competitions, programs and events, from the X PRIZE Foundation to "inspire a new generation of super-efficient vehicles that help break America's addiction to oil and stem the effects of climate change." Progressive Insurance is the title sponsor of the prize, the centerpiece of which is the Competition Division, within which a $10 million dollar purse will be divided between the winners of three competitions.
The essence of each competition is to design, build and race super-efficient vehicles that will achieve 100 MPGe (2.35 liter/100 kilometer) and can be produced for the mass market. Within the Competition Division, there are two vehicle classes: Mainstream and Alternative. The mainstream class has a prize of $5 million. The alternate class has 2 separate prizes of $2.5 million, one for side-by-side seating and one for tandem seating.
Some of the competitors, such as Aptera and Tesla, are already taking deposits for 'green' vehicles from customers.
Read more about this topic: Green Vehicle
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