Electric car company chasing $2.5M national prize
Advanced Mechanical Products Inc. (AMP), a Blue Ash-based company that is converting Saturn Skys into all-electric vehicles, has been accepted into the $10 million Progressive Insurance Automotive X Prize.The national competition, held to promote the development of next-generation, super fuel-efficient vehicles, is expected to include up to 140 teams of competitors ranging from university engineers to entrepreneurs to automobile manufacturers.”We think a head-to-head competition is definitely the way to go,” Steve Burns, one of AMP’s founders and its CEO, tells the Enquirer.AMP was one of the first 40 teams accepted into the competition and could collect $2.5 million if it wins.The company has applied for a $20 million loan from the U.S. Department of Energy that would allow them to employ 300 people and to produce 30,000 electric vehicle kits over five years.Read the full article here.
Advanced Mechanical Products Inc. (AMP), a Blue Ash-based company that is converting Saturn Skys into all-electric vehicles, has been accepted into the $10 million Progressive Insurance Automotive X Prize.
The national competition, held to promote the development of next-generation, super fuel-efficient vehicles, is expected to include up to 140 teams of competitors ranging from university engineers to entrepreneurs to automobile manufacturers.
“We think a head-to-head competition is definitely the way to go,” Steve Burns, one of AMP’s founders and its CEO, tells the Enquirer.
AMP was one of the first 40 teams accepted into the competition and could collect $2.5 million if it wins.
The company has applied for a $20 million loan from the U.S. Department of Energy that would allow them to employ 300 people and to produce 30,000 electric vehicle kits over five years.
Read the full article here.
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