Bloomberg Praises Contest for Fuel-Efficient Car
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Mayor Bloomberg says a new $10 million prize to develop more fuel-efficient cars will help reduce the country’s dependence on oil.
Mr. Bloomberg was at the New York International Auto Show today to help introduce the Automotive X Prize, which will award $10 million to teams that develop production-ready cars that get 100 miles to the gallon or more.
“We really need some new thinking. We need some innovation,” Mr. Bloomberg said. “I don’t think there’s any bigger threat to our world and to our country than global warming and our dependency on oil, and the automobile is really at the root of both of those things.”
The X Prize Foundation chairman and chief executive, Peter Diamandis, stressed that the competition will focus on cars that people really could drive.
“We’re not talking about concept cars. We’re talking about real cars that can be brought to market in the near term that consumers will want to buy,” he said.
Mr. Bloomberg said he’s especially pleased with that focus.
“If people don’t want to buy them, having all the technology in the world doesn’t do us any good,” he said.
The Santa Monica, Calif.-based X Prize Foundation says 64 teams from 10 countries already have signed up to participate in the competition, which will include cross-country races in 2009 and 2010. Progressive Casualty Insurance Co. is funding the prize.
Mr. Bloomberg, who is a billionaire, joked that he might want to fund a prize of his own someday. The X Prize Foundation is best known for prizes promoting space flights.
