Written by Prognog Staff Image Automotive X PRIZE (AXP) announced that it was funding a competition with a prize greater than $10 million for a car that is capable of obtaining 100 miles per gallon in real-world driving and conditions.

"We invite the world's best and brightest minds to look at this independent, high-profile competition as a way to make a difference for generations to come," said Mark Goodstein, executive director, Automotive X PRIZE. "In the spirit of grand competitions throughout history - including Lindbergh's historic flight across the Atlantic 80 years ago - we expect that the Automotive X PRIZE will bring about change and innovation for the benefit of everybody. This competition will help level the playing field and capture entrepreneurial, scientific and technical energy to bring about viable cars that consumers want to buy."

More information and guidelines can be found at http://auto.xprize.org.