The X PRIZE Foundation was created by Dr. Peter H. Diamandis who strongly believes that focused and talented teams in pursuit of a prize and acclaim can change the world. It’s an educational nonprofit prize institution whose mission is to create radical breakthroughs for the benefit of humanity.
You’ve probably heard of it before, when the first private vehicle went into space to win the $10m Ansari X PRIZE. The foundation now has the $10m Archon X PRIZE for Genomics and the $30m Google Lunar X PRIZE and the Automotive X PRIZE.
It has the goal of designing viable, clean and super-efficient cars that (and this is important) people want to buy. Beginning in 2009, with the final round in 2010 teams will compete to build cars that meet strict emissions guidelines (including the construction of the vehicle), fuel efficiency targets using a new measure called Miles Per Gallon Equivalent, and they must be capable of producing a minimum of 10,000 vehicles.
An example entrant is a man who gets 130mpg [via gas2.0]: