Progressive X-PRIZE hopes to propel 100 mpg-e vehicles

Progressive Insurance's Automotive X PRIZE is seeking to inspire a new generation of viable, super-fuel-efficient vehicles that get 100 mpg-e (or miles per gallon of gas equivalent) -- four times more than the current average of 25 mpg. Based on today’s average mileage, a 100 mpg-e car would save drivers about $1,300 a year, according to the insurance company.

A recent survey by Progressive finds that the majority of respondents would pay off their credit card or other debt (35 percent) with the savings. Thirty-one percent say they would save the money, and 11 percent say they would make home improvements or take a vacation.

“It’s critical that we find a way to make the vehicles on our roads more fuel efficient,” says Brian Silva of Progressive. “That’s why we partnered with the X PRIZE Foundation to sponsor the Progressive Automotive X PRIZE. This competition isn’t about fantasies or science experiments. It’s about developing 100 mpg-e vehicles that people want to buy and can afford.”

Until the era of the 100 mpg-e car arrives, 60 percent of drivers surveyed plan to alter their summer driving habits, the insurance compny states. Sixty-five percent say they would take fewer trips, 36 percent say they would take shorter trips, and 21 percent say they would not take any trips at all this summer.

Of those drivers most likely to alter their summer driving habits due to rising gas prices, Midwesterners lead the pack (67 percent), followed by Southerners (60 percent). Drivers in the Northeast come in a close third (58 percent), with West Coast drivers (54 percent) least willing to alter driving habits.

For more information about the Progressive Automotive X PRIZE, visit www.progressiveautoxprize.org or e-mail [email protected].