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Peter Diamandis

Peter Diamandis

Posted: September 16, 2010 02:29 PM

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For those who have followed the Progressive Insurance Automotive X PRIZE, today has been a long time coming.  Our vision from the start was to reinvent the paradigm for cars the public can drive. We wanted to ensure that these cars were fast, affordable, safe and achieved more than 100 MPGe (miles per gallon equivalent) -- a new way to directly compare the efficiency of gasoline to electric and other alternative fueled vehicles.  This adventure began in early 2006, when we first developed the concept for this Incentive Prize.  It was officially announced in March 2008, with Progressive Insurance as the competition's title sponsor.  More than 130 vehicles from around the world registered to participate.  This past summer, we tested the finalist at Michigan International Speedway, all competing for a $10 million purse and one shared goal: to develop viable and super, fuel-efficient vehicles that meet or exceed 100 MPGe.

We spent this morning in the nation's capital at The Historical Society of Washington, D.C. to announce the three winning vehicles among others that will impact our future driving experience.  Joining us on stage were Speaker of the House, Nancy Pelosi; the President's Science Advisor, Dr. John Holdren; Senator Mark R. Warner; Representative Edward Markey; Deputy Secretary of Energy, Daniel Poneman; and of course, Progressive Insurance CEO Glenn Renwick.  While our event backdrop was all about history, we came together to celebrate the future and the innovations of companies that have advanced their own automotive technologies because of their role in this competition.

We awarded $5 million to the competition's Mainstream Class (seats four) category winner and $2.5 million each to the two Alternative Class (seats two) winners, one with tandem seating and one with traditional side-by-side seating.


  • Edison2 LLC, based in Charlottesville, Va., won the $5 million mainstream class with its Very Light Car.  This forward-looking, truly aerodynamic vehicle weighs less than 750 pounds and boasts a drag coefficient that is half of what is considered the best today.  In the competition, the Very Light Car achieved just more than 100 MPGe and passed all safety and emissions criteria- made even more remarkable with the knowledge that the car runs on E85 ethanol.


    • Li-ion Motors, based in Mooresville, N.C., won the $2.5 million alternative side-by-side class with its Wave II vehicle.  This battery electric urban car was built on a lightweight aluminum chassis and includes a highly efficient battery package and aerodynamic features that enabled it to achieve 187 MPGe in on-track testing.


      • X-Tracer, based in Uster, Switzerland, won the $2.5 million alternative tandem class with its E-Tracer 7009 vehicle.  The E-Tracer features two stabilizer wheels that automatically drop at low speeds or during sharp turns.  It includes room for two in-line passengers and weekend baggage, and held the record high for efficiency in the competition, coming in at 197 MPGe.

      • While some may consider the competition over, for the winning teams the journey has just begun. Indeed, they will immediately begin leveraging their winning status, prize money and connections made over the course of the competition to catapult their vehicle into the consumer market.  It will not be easy, but I know these teams can, and will, make it happen.  Just like Burt Rutan and Paul Allen were able to take their winning vehicle, SpaceShipOne, from the Ansari X PRIZE and move it forward into commercialization through a $250 million commitment from Sir Richard Branson to create Virgin Galactic, so too, do we wish these winning teams great success in their next steps towards commercialization.

        We've seen a shift in the market since we first launched this competition, and a greater awareness by the American people to think more seriously about the actions we take, and how they affect our environment.  We have also seen a rise in acceptance of the MPGe model used in our competition, a new benchmark in measuring fuel economy. MPGe has the advantage of public familiarity. That is why our partner, Consumer Reports, has joined us in championing MPGe as a robust, transparent and fuel neutral standard that consumers can use to make apples-to-apples comparisons of such next-generation vehicles to the cars they drive today.

        Edison2, X-Tracer and Li-ion Motors will have the greatest impact.  Their vehicles are set to revolutionize fuel efficiency, as well as the auto industry, because the beauty of this X PRIZE is not just the cars - it is also the technology.

        Working together, the X PRIZE Foundation and Progressive Insurance have strived to change the paradigm of "mainstream" vehicles by providing a global platform focused on engine efficiency, increased vehicle power, acceleration, safety and increased fuel economy. The innovative technologies brought forth in this competition were astounding and further proved the purpose behind prize competitions -- to make the impossible possible.

        We were not looking for incremental changes or long-term strategies.  The competition's structure demanded breakthrough thinking that would literally disrupt the industry and produce an accelerated wave to push it ahead in leaps and bounds.  To quote Bob Marley, "it takes a revolution to make a solution."

        Congratulations to the winners of the Progressive Insurance Automotive X PRIZE and to all the participating teams.  Even those teams who achieved 80 or 90 MPGe will also make a huge impact in the marketplace.  Personally, I'm looking forward to driving these vehicles in the near future and hope you will as well!

         

        Follow Peter Diamandis on Twitter: www.twitter.com/PeterDiamandis

 
 
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09:13 PM on 09/17/2010
The Monotracer is sold in the US and is similar to the Etracer that won, but is gas. The Swiss company - Peraves has been producing and selling its cabin motorcycles for 25 years.
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08:15 AM on 09/17/2010
What about this guy? He drove Canada to Mexico averaging 119 mpg in a car that he built TWENTY YEARS AGO!!!!
http://www.mnn.com/transportation/cars/stories/canada-to-mexico-on-one-tank-of-gas
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pepimartinez
07:48 AM on 09/17/2010
How did Tesla not win this? They actually have a viable shot at mainstreaming an electric car, as they have put one out already that has received extremely positive feedback.
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Cowoak
Fishing 3812 miles southeast of Dutch Harbor.
08:05 AM on 09/17/2010
Because Tesla is not the governments darling. If GM hadn't been bailed out Tesla would be doing real good right know I believe.
09:41 PM on 09/17/2010
Fool. Tesla is living on a $150 million dollar no-interest federal loan to help them get profitable. They are very much a government darling.
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nirek
Proud progressive Vietnam vet. against WAR
06:21 AM on 09/17/2010
I'm waiting for them to be mass produced to get the price down to where a poor man like me can get one. For now my hybrid gets 47 mpg!
☮ Nirek
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DrBlunt
Telling it like it is....
05:22 AM on 09/17/2010
CoooOOOL!
01:42 AM on 09/17/2010
Ron Cerven's Team Li-ion The NASCAR Team Won ! I want to give them huge credit for their engineering skills

-Sarge
12:15 AM on 09/17/2010
Very nice, but I cannot imagine driving any of those cars. I don't like people staring at me.
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03:12 AM on 09/17/2010
Ah you get over it. I drove one of the first Fiat Multiplas in Ireland and attracted head swiveling stares everywhere I went for it funny dorky looks. It embarrassed hubbie for a while but I couldn't care less. Its a great fuel efficient family car.
09:15 PM on 09/16/2010
Apparently "production ready" was not a part of the judging. Congrats to the winner, but he only car that is actually trying to be sold to the public is the Aptera.
09:02 PM on 09/16/2010
Congradulations, well done. Unfortunately ten million dollars will not produce anything of any substance, but it might be good seed money. Lets hope they don't waste it one salaries for top executives (if they have top ececutives)
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nana4g
09:00 PM on 09/16/2010
This is what I mean....to heck with the banks who are not lending money for business, industry, research, jobs....we must do it on our own. Thank you Progressive!
08:58 PM on 09/16/2010
The Aptera should have won this by a landscape. It was easily the most refined, advanced, safest, and most production ready of the cars.

I would love to own a x-tracer, but it just isn't that practical. I can't be a families' primary vehicle.
12:19 AM on 09/17/2010
maybe not but a surb. dad /mom
can use it as work car-how many families have at least 2 cars in drive? I would rather see my son in one of these than the cycle he rides to save gas
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Trittydi
Special on pap smears at Walgreen's this week ....
08:55 PM on 09/16/2010
Congratulations indeed.

I watched every video of the entrants ... very impressive. Can we have them on US highways by the first of the year?
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08:42 PM on 09/16/2010
This is how electric cars are going to have to be:

None of that relying on charging it up overnight at your home charging station. What they're going to have to do is make the car with a compartment containing a slide-in, slide-out rechargeable battery that can be swapped at home or, while you're on the road, at the equivalent of a gas station.
09:44 PM on 09/17/2010
Yeah, sliding a 1,200 lb battery back in/out will be light work for grandmas and grandpas.
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08:36 PM on 09/16/2010
does anyone else think this company will be bought out by a major car company and this product buried or "worked on" to produce a product that is the same old same old with only cosmetic differences to get the public to continue to buy gas guzzlers?
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Trittydi
Special on pap smears at Walgreen's this week ....
08:56 PM on 09/16/2010
Kill it ... just like the electric car? A few years ago i'd agree with that ... but things really ARE changing. Too slowly ... but they are changing.
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TOOO
Warning: Rabid Monty Python fan!
05:34 AM on 09/17/2010
Well, the Nissan Leaf seems to be giving us some hope. It doesn't matter how rich the Detroit CEOs get from taking bribes from the oil companies if American automakers are driven (no pun intended, honest!) out of business because they refuse to put out a practical electric - and no, that overpriced hybrid Chevy Volt doesn't count. (Of course, Detroit will come looking for another government handout, but that's another story.)

We CAN do better than the Volt (or even the Leaf) if we really want to. But do we have the will to do it?
09:52 PM on 09/17/2010
This is always the worst agrument. Car companies sell what consumers buy. We'll see if Nissan ever turns a buck on the LEAF. And what other cars geta $7,500 federal tax subsidy? That's almost a new smart car!

The people in the the lobby pocket are consumers! Regulation is the path to greater efficiency. Its why European cars get 50% better mileage than US counterparts - because they tax the heck out of fuel to give consumers a reason to buy more efficient cars. Regulate now or low supply will regulate you later - and $6/gal will be cheap by comparison.
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08:30 PM on 09/16/2010
americans have been waiting for the car of the future to be built for the past 50 years..........looks like another 50 years.

cars of the future = never get built.

don't hold your breath folks.............you won't be seeing any of these for a looooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooong time.
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Trittydi
Special on pap smears at Walgreen's this week ....
08:58 PM on 09/16/2010
No other industrial sector is running on technology that is over one hundred years old. It's way past time to change that.

The opposition will find as many ways as they can to stop this from ever happening.
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TOOO
Warning: Rabid Monty Python fan!
05:35 AM on 09/17/2010
Oh, the Cars of the Future WILL be built... by Nissan. (I'm referring to the Leaf.)