$10 Million for First 100 mpg Car

More than 30 teams from companies including Tesla Motors and Zap Automotive have signed on for the Automotive X Prize to see who can win a race of 100 mpg (or equivalent) automobiles. The cars can run on a variety of fuels including electricity, natural gas, diesel or unleaded gasoline; they just have to get at least 100 mpg. They also have to complete a long-distance staged race, so the cars will have to be durable as well as frugal. Oh, did we mention they also must be low emission vehicles with a real business plan? Yep, if you don’t have a plan to produce 10,000 units of your entry at an affordable price, you won’t be able to race.

The X Prize is shooting for a $10 million grand prize and hopes to use the upcoming auto show season to generate buzz and get sponsors, including major automakers, to fill the prize purse.  For now, the 31 teams don’t seem to care. We’ll keep you posted as we learn more about the contestants and the final event.

Green Teams Go For Auto Race (MSNBC.com)