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The $10 Million Progressive Insurance Automotive X Prize Turns Five

It was five years ago last week, April 12 to be exact, that the X Prize Foundation announced its $10 million prize for whoever is able to develop an ultra-fuel-efficient, mass-market-viable vehicle. Though no one has won the full prize, the Edison2’s Very Light Car was awarded half the prize in 2010, three years after the prize was announced.

Specifically, the award is for a mass-market vehicle that has a 100 MPGe fuel efficiency rating while producing fewer than 200 grams of C02 emissions per mile travelled. Since its first halfway win, Edison2 says that it has made a new electric vehicle that will earn 350e MPG. Only time will tell if this new car gets the mostly unknown automaker the rest of the prize.

If you are in the market for an auto loan in Lynchburg, VA, you may find it interesting to know that Edison2 is based in your town!