Automotive X-Prize: E-Tracer captures victory in Alternative Class-Tandem

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:

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.

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.

[Source: AC Propulsion, New York Times]

PRESS RELEASE

E-TRACER WINS PROGRESSIVE AUTOMOTIVE X PRIZE – POWERED BY AC PROPULSION'S ELECTRIC DRIVE SYSTEM

Spotlight Shines on AC Propulsion for High Performance Electric Drive System

Washington, DC (September 16, 2010) – AC Propulsion, a global leader in electric drive development, design and manufacturing, announced today that the winner of the 2010 Progressive Insurance Automotive X PRIZE, Alternative Class (Tandem), the Peraves E-Tracer, is powered by AC Propulsion's state-of-the-art electric drive system. The E-Tracer outlasted and outperformed more than 30 entries over the grueling fourmonth X PRIZE competition.

Widely known for the drive system technology powering the Tesla Roadster, MINI E and eBox electric vehicles, AC Propulsion added another winner to the list of vehicles using its tzerotm technology as the innovative E-Tracer ascended the podium to receive the coveted 2010 Progressive Insurance Automotive X PRIZE.

"The Peraves E-Tracer is a perfect match for our electric drive system," said Tom Gage, AC Propulsion CEO. "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."

The goal of the Progressive Insurance Automotive X PRIZE is to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. Ten million dollars in prize money was awarded to the teams that won their class competition for clean, production-capable vehicles that exceed 100 miles per gallon energy equivalent (MPGe).

The Progressive Insurance Automotive X PRIZE puts added global focus on efficiency, safety, affordability, and the environment. It is about developing real, production-capable cars that consumers will want to buy, not science projects or concept cars. This progress is needed because today's oil consumption is unsustainable and automotive emissions significantly contribute to global warming and climate change.

About AC Propulsion:
AC Propulsion is a global leader in the development, design and manufacture of electric vehicle technology. AC Propulsion's proprietary tzero™ technology is a complete solution for electric vehicles, and can be customized for every class of electric vehicle, from a sports car to an SUV to an 8-ton city bus. AC Propulsion is also a leader in the development of Vehicle-to-Grid (V2G)-capable vehicles, as well as the research and development of V2G technology. For more information, please visit www.acpropulsion.com, or call (310) 383-0956.