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Fuel Efficient Vehicles Update

An ultralight, gas-powered car that can get 102 miles per gallon is among the winners of the $10 million Automotive X Prize, a contest to develop highly efficient, production-ready vehicles.

The X Prize, which is funded by Progressive Insurance, gave 111 teams 30 months to develop their vehicles and then put them through driving, safety and efficiency tests.

Some of the prize money will go into development of the next generation light car, and once it is ready – it will be offered partner manufacturers for production.