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.
"We hope automakers will take another look at our mission and see just how closely it aligns with their goals of bringing new, affordable and fuel-efficient technology to drivers everywhere," added Diamandis. "The auto industry is changing rapidly, and the Progressive Automotive X PRIZE plans to offer an unprecedented showcase of what the future can hold. Our team would welcome an opportunity to meet with automaker representatives at the Auto Show, and explore ways that we can work together."
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