As your mother probably told you, it’s polite to share. But while we’ve all probably shared candy, the occasional pretzel and perhaps even a car into work, how many of you would share a $2.5 million prize fund with the people you just beat?
That’s exactly what has happened with the Progressive Insurance Automotive X-Prize. While Li-Ion Motors Corp. was crowned the winner for the side-by-side category with its Wave II all-electric car just over a month ago, it turns out four out of the five fellow teams agreed had agreed to share the prize-funds in the event of them winning.
The agreement, written on a page in a spiral-bound notebook is a simple one. It reads: “If my team wins the competition, I agree to share the prize in the following fashion”, with the outright winners keeping $1.7 million of the prize and sharing the remaining $800,000 out between the other co-signees.
Honoring the agreement made on the final day of the tie-breaking energy and performance runs held in July, Li-Ion Motors Corp. has confirmed it will share out the prize money with its rivals as agreed.
Zap Alias, Amp'd Sky, Edison2 Very Light Car, Automotive X-Prize.
Coming in joint fourth place, Aptera and Zap, two companies we’ve heard a lot about over the past few years, earn just $200,000 each. Both teams had remained hopeful that they would win the X-Prize, but each have ended up with just 10% of the total prize-funds available.
What about the team coming second in the Auto X-Prize? While Finnish-based RaceAbout Association came just behind Li-Ion Motors Corp. in the actual competition, they declined to join the prize-funding syndicate, losing out on both the competition and a consolation prize.
As our Nelson Ireson pointed out yesterday, RaceAbout’s EV was the only conventionally designed vehicle in the X-Prize. Losing out on first place by just 0.179 seconds,
Aptera 2e during Automotive X-Prize handling tests, from Consumer Reports video on YouTube
While we’re pleased to see the spirit of good sportsmanship is alive and well in the competitive world of the Auto X-Prize we’re keen to see just what the prize funds can pay for at each company.
One thing is for sure. As each firm readies for production, the public will decide which, if any of the finalists will truly win.