AUBURN HILLS, Mich., March 31 /PRNewswire/ -- The non-profit foundation
that created a prize to inspire the world's first private spaceship believes
that this same spirit of ingenuity can be applied to the automobile industry.
Mark Goodstein, executive director of the X PRIZE Foundation's automotive
prize, will address attendees at the 2006 SAE World Congress as he opens the
FEV Powertrain Innovation Forum, Monday, April 3 at 10:00 a.m.
Goodstein's organization believes the technology exists to mass produce
hyper-efficient vehicles, but the industry has been slow-moving and many
obstacles must be overcome. This makes the automotive industry ripe for a very
challenging prize, like the X PRIZE, that rewards private-sector innovation.
"A cultural change must occur if the future of the U.S. auto industry is
to be assured," says Goodstein. "By fostering private-sector innovation, the X
PRIZE Foundation provides a catalyst for progressive thinking."
The X PRIZE Foundation chose the FEV Powertrain Innovation Forum as the
venue for its remarks to emphasize the importance of powertrain innovation as
a likely focal point for developing technology that can achieve a serious
reduction in our dependence on fossil fuels.
"It was quite amazing to see the ingenuity that was created by the Ansari
X PRIZE for commercial space flight," says Gary Rogers, FEV's president, who
invited Goodstein to speak at the FEV Powertrain Innovation Forum. "We will be
very interested to learn more about how the X PRIZE Foundation identifies
areas where exceptional innovation can spark revolutionary change, especially
in the automotive industry where hundreds of billions of dollars are invested
in existing capital equipment and processes."
X PRIZE points out that the automotive industry is vital to the global
economy as it accounts for 10 percent of the gross domestic product in
developed nations. Although bio-fuel, fuel-cell and plug-in technologies are
all promising, current consumer attitudes and the current transportation
infrastructure favors solutions based on gasoline and diesel fuels.
"We're still using the internal combustion engine after 10 years and
getting 20 miles to the gallon for the past 40 years," says X PRIZE Founder
Dr. Peter Diamandis. "The timing is right to push the envelope and shake
things up."
About the X PRIZE(R) Foundation
The X PRIZE Foundation is an educational nonprofit organization. Its
mission is to create radical breakthroughs for the benefit of humanity. Based
on the success of the $10 million Ansari X PRIZE, the foundation is widely
regarded as the leading prize management institute in the world. For more
information please visit http://www.xprize.org .
About FEV
FEV is an independent engine and powertrain systems research, design and
development company, headquartered in Aachen, Germany. Globally, it provides
complete concept-to-production (C2P(TM)) support to the transportation
industry, commercial engine manufacturers and the emerging fuel-cell industry.
The company designs, prototypes and develops advanced gasoline-, diesel- and
alternative-fueled engines, as well as advanced vehicle-powertrain concepts,
electronic control systems and hybrid-electric vehicles.
FEV also is a global supplier of advanced test cell, instrumentation and
test equipment. Please visit http://www.fev.com for additional company
information.
SOURCE FEV Engine Technology, Inc.
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Related links:
http://www.xprize.org
http://www.fev.com
CONTACT:
Company Contact: Leah Ondejko of FEV Engine
Technology, Inc., +1-248-373-6000, E-mail: Ondejko@fev-et.com ;
or Media Contact: Laura Oliveto of AutoCom Associates,
+1-248-647-8621, E-mail: loliveto@usautocom.com , for FEV
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