Automotive X Prize wins $5.5M from the Dept. of Energy

The Automotive X Prize, the prestigious competition for advanced vehicle concepts, got a pat on the back from the U.S. Department of Energy today in the form of a $5.5 million grant. This is more than half the $10 million prize awarded to the winner of the contest — the team that builds the best car with a 200-mile range that gets at least 100 miles per gallon.
The $5.5 million came out of the DOE’s stimulus package funds, those specifically earmarked for educational programs. In addition to the money, the department says it will provide mentoring services and help the X Prize Foundation weigh the technical merits of each candidate, not only based on prototypes pitched, but also teams’ plans to scale production of their vehicles to at least 10,000 units.
This isn’t the first time the DOE has given financial backing to the Foundation — last year it supplied a $3.5 million grant on president George W. Bush’s watch. But this year, the money simultaneously buoy’s the Obama administration’s Strategy for American Innovation initiative, which calls for the government to use more competitions like the X Prize to spur technology development.
Both Obama and Energy Secretary Steven Chu have made it a priority to increase outreach in the advanced automotive space. Not only is the Advanced Vehicle Technology Act distributing healthy chunks of change to companies like Tesla Motors and Fisker Automotive for development of electric and plug-in hybrid cars, the executive branch is also pushing for reductions in carbon dioxide and other greenhouse gas emissions that will no doubt infuse the alternative transportation industry. Even the bailout money given to ailing automotive giants like General Motors and Ford came with green strings attached — they need build eco-friendly offerings soon in order to keep the support coming.
Right now 43 teams of varying size from around the world are vying for the $10 million automotive award. The X Prize Foundation runs similar contests for innovations in space, genomics, and lunar exploration.
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