Progressive coughs up $10M for green cars

We've known for a long time that there was going to be a 100mpg car X-Prize. Now we know the specifics.

This past Thursday at the New York Auto Show, the X-Prize foundation finally released the details of the competition -- or should I say "The Progressive Automotive X-Prize." That's right, Progressive Insurance is footing the bill for this one. And we have details on how the contest will be judged.

There will be two vehicle classes: Mainstream and Alternative. Mainstream vehicles will have to have four seats, four wheels and a 200-mile range. Alternative vehicles have no limitation on the number of seats or wheels, and must have a 100-mile range.

The winner will be decided (awesomely enough) by a race. Of course, it'll be a somewhat lame race, with stoplights and speed limits, to simulate normal driving habits. But a race nonetheless. Whoever finishes the race first, while maintaining a 100-mpg (or equivalent) gas mileage, wins the purse. the Alternative fuel class gets $2.5M while the mainstream cars gets $7.5M.

The race will take place in 2009 or 2010, and I'm absolutely positive that it's going to be awesome.

Progressive X-Prize Website
Full Press Release
Full Draft Guidlines