Hybrid Technologies, Inc. (HYBR.OB), an emerging leader in the development and marketing of lithium-powered products worldwide, was recently recognized by Popular Mechanics as “having a real shot of winning the X Prize” competition. Popular Mechanic’s Automotive X Prize, a $10 million competition to determine the most fuel-efficient cars in the world, evaluates entrants on six factors: technological feasibility, fuel economy, design, performance, price, and production reality.
Popular Mechanics judges have test-driven three of Hybrid Technology’s all-electric vehicles – the roadster, a Mini Cooper and a motorcycle – and were impressed with each vehicle’s performance. The company’s new aerodynamic X Prize entry vehicle is under development at the Mooresville facility and will be engineered for speeds of 175 mph and targeted drive ranges of 300 miles per charge.
Since Hybrid Technologies is not currently producing on a mass scale, the company will focus its development strategy on the X Prize and utilize the prize money to further fund future growth initiatives. Hybrid Technologies vehicles emit zero emissions, unlike many popular hybrids on the market today. According to a recent article in the New York Times, fully electric vehicles with zero emissions are fast emerging as the most promising new technology of the milennium.
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