Inventors to Race for Millions in Auto-efficiency Prize

The Automotive X prize is looking for cars that can qualify in two categories: a traditional four-seat, four-wheel category, and a nontraditional category of at least two seats and at least three wheels.

Published: 31-May-2007

The man behind the aerospace Ansari X Prize, which helped propel the first ventures into the field of space tourism, is taking on fuel efficiency in cars.

Peter Diamandis, the founder and chief executive officer of the X Prize Foundation, is issuing a worldwide challenge for teams to come up with an efficient car model that can be mass produced. The prize will be officially launched later this year, and teams will have about a year and a half to build their vehicles before the first qualifying race in 2009.

"The Ford model T got 25 miles per gallon, and the cars today are getting 18 miles per gallon, and that's just wrong," Diamandis told CNN recently.

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