Feds Contributing Up to $5.5 Million to Aid Auto X-Prize Final Evaluation Effort

The federal Energy Department said it will give up to $5.5 million to the X-Prize Foundation to support the non-profit organization's ongoing $10-million Progressive Automotive X-Prize contest. Think of it as a sort of government insurance to guarantee smooth operation of a fuel-efficiency contest that's funded by a private insurance company.

Tagged as: fuel-economy