The newly renamed 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 Progressive Automotive X PRIZE is an excellent example of how the private sector can spur solutions to our most complex challenges,” said Mayor Bloomberg. “Here in New York City, we are also stepping up to the plate on energy conservation, by transforming our taxi fleet into hybrids and cutting the City’s energy use by 30% over the next ten years. It’s all part of PlaNYC, our plan to create a greener, greater New York.”

The Mayor added, “Development of a super-efficient car would be a major step forward in the fight against global warming – and it would help us reach our goal of cutting greenhouse gas emissions in New York City by 30% by 2030. To maximize national and international awareness of the X PRIZE, I am pleased to announce that New York will be the starting point for the Progressive Automotive X PRIZE race next year.”

The X PRIZE Foundation, best known for the successful $10 million Ansari X PRIZE for private suborbital spaceflight, is an educational nonprofit whose mission is to bring about radical breakthroughs for the benefit of humanity by holding $10 million dollar (or larger) competitions to solve some of the world’s greatest challenges.