At the New York International Auto Show in Manhattan yesterday Progressive and the X PRIZE Foundation announced the insurer's sponsorship of an auto fuel efficiency contest.
The Progressive Insurance Automotive X PRIZE will be funded with a $10 million prize purse, the companies said.
According to Mayfield Village, Ohio-based Progressive, the Progressive Automotive X PRIZE is an international competition designed to inspire a new generation of viable, super fuel-efficient vehicles.
“The independent and technology-neutral competition is open to teams from around the world that can design, build and bring to market 100 MPGe (miles per gallon energy equivalent) vehicles that people want to buy, and that meet market needs for price, size, capability, safety and performance,” the company noted.
More information is available online at www.progressiveautoxprize.org.
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