The moment that we've been waiting for is finally upon us. Today is the day that competitors who took part in the grueling four-month long Automotive X-Prize competition find out if they survived the cut. At stake, part or all of the $10 million prize purse and the right to exclaim that they've won one of the most demanding automotive competitions to date. So, let's get down to it.
In the Alternative Class-Tandem, two entrants, both fielded by team X-Tracer, survived the early rounds and stood out as potential victors. The Peraves E-Tracer has emerged as the class winner, taking home the highly-coveted honor as the 2010 Progressive Insurance Automotive X Prize, Alternative Class - Tandem champion. Oh, and $2.5 million. Our congratulations go out to the team for developing an amazing vehicle that outlasted and outperformed more than 30 other entries.
Powered by AC's Propulsions state-of-the-art electric drive system, the E-Tracer quickly jumped to the front of its class and never looked back. As Tom Cage, chief executive officer of AC Propulsions, said:
Completing every stage of the Automotive X-Prize is obviously a daunting task, but the E-Tracer and its team refused to quit and competed with tenacity to the very end, which makes them well deserving of the $2.5 million prize purse and a congratulatory pat on the back. Hit the jump to find out more about the Peraves E-Tracer, overall winner of Progressive's Automotive X-Prize in the Alternative Class-Tandem.The Peraves E-Tracer is a perfect match for our electric drive system. Both the vehicle and our drive system excel in performance and efficiency and that is what it takes to compete successfully for the X Prize.