X Prize for Automobile Industry

The X prize foundation, the organization behind the prize, today launched a new prize for the Automobile industry. The prize aims to award the first successful car that achieves super fuel efficiency compared to todays typical production models, with the aim of breaking our dependence on oil with the aim of reducing environmental impact and global warming. The winners will receive a multimillion dollar cash prize. The winning car will have a fuel economy of at least 100 MPG (or equivalent), and must be viable for production of a run of at least 10,000 units.

The actual set of requirements to win the prize are posted here

The requirements have gone through many revisions and have been drawn up by industry professionals, but the final criteria is open for discussion and comments from the general public - so if you have anything to add you can do so via the Auto X Prize site.

About the X Prize Foundation:
"The X PRIZE Foundation is an educational non-profit prize institute whose mission is to bring about radical breakthroughs in space and technology for the benefit of humanity. On October 4th, 2004, the X PRIZE Foundation captured world headlines when Mojave Aerospace Ventures, led by Burt Rutan and Paul Allen, built and flew the world's first private craft to space twice in two weeks to win the $10 million Ansari X PRIZE. Because of the dramatic nature of the achievement, the X PRIZE Foundation is now widely recognized as the leading model for fostering innovation through competition. In October 2006, the Foundation launched the $10M Archon X PRIZE for Genomics for the first team to sequence 100 human genomes in 10 days."
Visit the X prize foundation site for more info.