The X Prize is an idea the Progressive automobile insurance had to award innovators in fuel efficiency with $10 million prize.
The gist, the X Prize wants to to bring about radical breakthroughs for the benefit of humanity by creating and managing prizes to drive innovators to solve the greatest challenges facing the world today. Not bad for a vision and raison d’etre. So our raison d’etre here is electric cars, so lets focus on the automobile part of it.
Who is in it? You will find a few of the people we have talked about in the past, such as Alpha-Core/Poulsen Hybrid who is also behind the electric car recharging network, Aptera Motors and their impressive looking electric vehicle, EV and hybrid, HEV, as well as Zap and Phoenix Motorcars, amongst other the EV makers.
So far, the first wave of Registered Teams, representing 10 states and 5 countries include Tata Motors presenting their Nano EV & Indica Vista Hybrid in the alternative and mainstream class, Synergy Innovations with an Electric MINI and more.
You Can Have Your Say! The X Prize is not closed to the public, you can not only keep abreast of what is happening but also vote for your favorite projects, here.
Anyway, you get the gist. So why are these types of “friendly” competition important? They obviously push more innovators to come out and show what the mainstream industry isn’t producing. Best yet, some of these start ups, as Tesla, Fisker and Aptera, are funding their own projects through private financing. This pushes these companies to be efficient and nimble, as well as introduce to the public a choice, so far left in the dark by big corporations.