Progressive Insurance Automotive X PRIZE Announces New Division for Large Automakers to Showcase Fuel-Efficiency Efforts

MarketWire
SOURCE: Progressive Automotive X PRIZE
Jan 11, 2009 10:40 ET

Details of the Competition's New Demonstration Division Announced at the 2009 North American International Auto Show in Detroit
http://www.progressiveautoxprize.org/

DETROIT, MI--(Marketwire - January 11, 2009) - The Progressive Insurance Automotive X PRIZE, a multimillion dollar competition designed to inspire a new generation of viable, super fuel-efficient vehicles, today announced details of a Demonstration Division designed specifically for large, established automobile manufacturers. "We believe that this new Division provides an ideal platform for major automakers in the U.S. and E.U. to promote their latest fuel-efficient vehicles and we hope this announcement sparks new entries into the competition," noted Peter Diamandis, President and CEO of the X PRIZE Foundation.

The Demonstration Division, distinct from the existing Competition Division, is intended to showcase high-efficiency vehicles from established automakers that are already selling fully validated, four-wheel vehicles in the U.S. or E.U. at quantities greater than 10,000 per year, and have been doing so since 2005. Such companies may enter efficient Mainstream Class vehicles that are either in production or committed for production and sale in the U.S. or E.U. prior to the end of 2012.

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