Mayfield Village, Ohio — To help spur creation of highly fuel-efficient car, Progressive Corp. is offering a $10 million prize in conjunction with the X PRIZE Foundation.

The Progressive Automotive X PRIZE is 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.

“This competition will result in more choices of more fuel-efficient vehicles for drivers, and will be a catalyst for moving this technology forward, faster,” says Progressive’s CEO, Glenn Renwick. “This competition also is an opportunity for us to connect with consumers in a different way, and make Progressive even more of a household name. Building more consumer awareness will drive even more business to our independent agents and help us grow.”

The X PRIZE Foundation seeks to foster innovative competitions that motivate inventors to solve grand challenges. In 2004, the X PRIZE Foundation paid a $10 million prize for the first non-government organization to launch a reusable manned spacecraft into space twice within two weeks. The foundation also is currently hosting competitions in genomics and lunar exploration.
Sources: Progressive,

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access