Money just keeps flowing into the automotive sector from the Department of Energy, which is giving the Progressive Automotive X Prize as much as $5.5 million to “inspire a new generation of energy-efficient vehicles.”
Energy Secretary Steven Chu says the money will provide the Automotive X Prize, a $10 million competition to build cars capable of 100 mpg or the equivalent, with technical assistance and help expand national education and outreach efforts. The cash comes out of the American Recovery and Reinvestment Act, also known as the stimulus package.
“Our clean energy future depends on our ability to design and commercialize new highly efficient vehicles that are cost-effective for consumers and use significantly less energy,” the secretary said. “This funding will support cutting-edge, American innovation that can help us fundamentally transform personal transportation and address the global climate crisis.”
So just what does $5.5 million buy?
According to the X Prize folks, specific tasks included in the award include:
“The U.S. Department of Energy has a rich history of research and development in energy efficiency and vehicle technologies, and a commitment to educating consumers and the public,” Peter Diamandis, chairman and CEO of the X Prize Foundation, said. “Their strong and continued commitment to the Progressive Insurance Automotive X Prize will give us the ability to reach audiences across consumer and government sectors, and drive change in the future of the auto industry.”
Photo of Future Vehicle Technologies‘ entry in the Automotive X Prize, the eVaro: Progressive Automotive X Prize