Automotive X PRIZE to Showcase Innovation at 2008 North American International Auto Show

ABOUT THE AUTOMOTIVE X PRIZE:

The Automotive X PRIZE is a project of thehttp://www.xprize.org/ X PRIZE Foundation, which creates and manages prizes that drive innovators to solve the world's greatest challenges. The X PRIZE Foundation first captured world headlines in 2004, when Mojave Aerospace Ventures, led by legendary aircraft designer Burt Rutan and Microsoft Co-founder Paul Allen, built and flew the world's first private vehicle to space twice in two weeks to win the $10 million Ansari X PRIZE. The Automotive X PRIZE is being designed with the generous help of world-class experts, advisors and organizations who represent a broad and diverse group of interests and share the organization's concerns and goals.

WHAT/WHY:

The Automotive X PRIZE, an international, multi-million dollar competition designed to inspire a new generation of viable, super-efficient vehicles, has announced plans to participate in this year's North American International Auto Show (NAIAS) during its Press Preview and Industry Days, January 13-18.

The independent and technology-neutral Automotive X PRIZE competition is open to teams from around the world who can design, build and bring to market 100 MPG equivalent vehicles that people want to buy, and that meet market needs for price, size, capability, safety and performance.

Once the competition officially launches - in early 2008 - a thorough qualification process will assess safety, cost, features and business plans to ensure that only production-capable, real cars compete. Those who qualify will race their vehicles in rigorous cross-country stage races that combine speed, distance, urban driving and overall performance.

To date, more than 50 teams from seven countries have signed a Letter of Intent-including Tesla, Visionary Vehicles, Aptera, ZAP, Loremo and Cornell University- to compete for a share of the multi-million dollar prize purse and global publicity. Several teams will join Automotive X PRIZE in their booth at this year's NAIAS.

The Automotive X PRIZE stage races are expected to travel through multiple cities from coast to coast in 2009 and 2010. Winning vehicles will be those that finish in the fastest time while achieving at least 100 MPG equivalent fuel economy and strict emissions caps.

WHO:

Don Foley, Automotive X PRIZE Executive Director

                        Neal Anderson, Cristin Lindsay and John Shore,
Automotive X PRIZE Senior Directors

                        Gale Banks, President, Gale Banks Engineering and
Automotive X PRIZE Advisor

Letter of Intent Team Members, to be announced shortly.

 

NOTE:

A detailed listing of Letter of Intent team members and other show attendees will be released by AXP in the coming weeks. For more information, contact Carrie Fox at 202-255-9214 or Sarah Evans at 310-582-5903.

For more detail, see our <http://auto.xprize.org/about/advisors.html> advisors, <http://auto.xprize.org/about/supporters.html> supporters, and <http://autoblog.xprize.org/> blog at <http://auto.xprize.org/> http://auto.xprize.org.