X MARKS THE ELECTRIC FUTURE

CEOs don’t get much less equivocal than this – Carlos Ghosn, Chief Executive, Nissan: "In 2008 you are going to see a mixed picture…I think the future would be ... zero emission cars. Particularly among urban drivers, there is a lot of appeal. We are pushing particularly this technology but we are not putting all our eggs in the same basket…"

Nissan, working with Renault, is developing an electric vehicle (EV). Toyota and GMC also have EVs or plug-in hybrid electric vehicles (PHEVs) in development. Nissan, like the other big automakers, are consumed with improvements in lithium ion battery technology. Hedging their bets (despite Ghosn’s pronouncement), Nissan is also still diddling with the hydrogen fuel cell concept.

Meanwhile, the X Prize competition was announced March 2O. The X Prize Foundation is offering $10 million to the winning vehicle. The basic qualifications for entry are the ability to get 100 miles-per-gallon (most likely although not necessarily via some form of battery-driven EV technology) and be production-ready.

No major automaker has joined the competition. Not surprising since they have left all the money in the EV/PHEV market on the table for a decade. Why should 2009 (the year of the competition) be any different?

Michael Bloomberg, Mayor, NYC (attending the announcement of the competititon): "We desperately need cars that are clean and efficient and safe and attractive to everyday buyers…"

In 2004, the X Prize Foundation awarded its Ansari X Prize of $10 million to Burt Rutan (backed by Microsoft Corp co-founder Paul Allen) for achieving the first privately funded flight into space.

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X Prize dangles $10 mln for fuel efficient car
Karey Wutkowski (w/ Kevin Krolicki and Gerald E. McCormick), March 20, 2008 (Reuters)
and
Electric car is the future, says Nissan chief
March 21, 2008 (AP via International Herald Tribune)

WHO
Carlos Ghosn, Chief Executive, Nissan; X Prize Foundation (Peter Diamandis, chief executive); Progressive Corp; 60+ teams including Tesla Motors, Cornell University, Hybrid Attack, Visionary Vehicles (Malcolm Bricklin, owner)

Mayor Bloomberg amid tomorrow's cars. (click to enlarge)

WHAT
The Automotive X Prize competition will be a cross country stage race testing the vehicles for speed and range in a variety of terrains and weather conditions. The winner gets $10 million. Progressive Corp, an insurance company, will sponsor the event.

WHEN
Nissan and Renault are presently developing a first electric car and hope to mass market it in 2011.
The race to prove the cars will be in late 2009.

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WHERE
The Nissan/Renault electric car development is in Israel.
- The race will crisscross the U.S. over varying terrains and in varying weather conditions.
- Hybrid Attack is a high school team from Pennsylvania.
- Tesla Motors is based in California’s Silicon Valley.

WHY
- Tesla is owned by PayPal entrepreneur ElonMusk. Its vehicle has a 245 mile range, accelerates to 60 mph in 4 seconds, sells for $98,000 and just went into production.
- Bricklin brought the Yugo to the U.S. and says he will enter an under-$40,000 luxury car with a dealer network.

Nissan has been experimenting for some time with its lithium ion battery-powered Hypermini. (click to enlarge)

QUOTES
- Peter Diamandis, chief executive, X Prize Foundation: "We're not talking about concept cars…We're talking about real cars that can be brought to market."
- Malcom Bricklin, Visionary Vehicles: "I'm not interested in a normal car anymore…"