X PRIZE Winners Get 100 MPG

“Perhaps the biggest winner of the Progressive Insurance Automotive X PRIZE competition is the X PRIZE Foundation itself. The organization, formed in 1996 with the Ansari X PRIZE competition to stimulate private spaceflight, not only issued a challenge to seen if automakers could build a vehicle that could get 100 miles per gallon, it found three teams capable of meeting the challenge. “There’s a science to designing a prize: It must be audacious but achievable,” X PRIZE Foundation Chairman and CEO Peter Diamandis said Friday as the competition’s winners gathered at New York City’s Classic Car Club in a sort of a victory lap.”