Progressive Insurance to sponsor the $10 Million Auto X Prize

It was announced at the New York Auto Show that Progressive Insurance will be the main sponsor for the Automotive X Prize. Progressive will also be putting up the $10 Million for the prize money. The Auto X Prize is a competition to encourage the development of super fuel efficient vehicles. The types of fuels are wide open and the vehicles need to get the equivalent of a gasoline 100 MPG.

Progressive Automotive X PRIZE

Source CNN Money