-GM Bailout- » Peter Diamandis http://www.gmbailout.com Frank discussion on the crisis facing the automotive industry Mon, 27 Apr 2009 22:12:21 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Progressive Auto X-Prize Wants Big Three to Participate http://www.gmbailout.com/2009/01/21/progressive-auto-x-prize-wants-big-three-to-participate/ http://www.gmbailout.com/2009/01/21/progressive-auto-x-prize-wants-big-three-to-participate/#comments Wed, 21 Jan 2009 18:48:04 +0000 admin http://www.gmbailout.com/?p=68 The Progressive Auto X-Prize, a competition which will award $10 million to a team that can drive a car cross-country in a fuel-efficient vehicle that gets 100 miles to the gallon, has asked the Big Three automakers to participate in its fuel efficiency prize. As an incentive for participation from Chrysler, GM, and Ford, the X-Prize will create a special division just for large automakers.

However, so far only Tata Motors, the Indian automaker that now owns Jaguar and Land Rover, is participating in the large automaker division. Since companies can enter a car that is in production or pre-production, GM would be able to enter the Chevy Volt, a plug-in hybrid GM has promised will get 40 miles of battery power.

Will the Big Three let someone else develop 100-mile-per-gallon vehicles before they can? Stay tuned…

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