AXP meaning in General ?

Answer:

What is Automotive X-Prize mean?

The Progressive Insurance Automotive X PRIZE (PIAXP or AXP) was a set of competitions, programs and events, from the X Prize Foundation, to "inspire a new generation of super-efficient vehicles that help break America's addiction to oil and stem the effects of climate change." Progressive Insurance was the title sponsor of the prize, the centerpiece of which is the Competition Division, within which a 10-million-dollar purse was divided between the winners of three competitions.

The essence of each competition was to design, build and race super-efficient vehicles that achieved 100 MPGe (2.35 liter/100 kilometer) efficiency, produced less than 200 grams/mile well-to-wheel CO2 equivalent emissions, and could be manufactured for the mass market. Within the Competition Division, there are two vehicle classes: Mainstream and Alternative. The mainstream class had a prize of $5 million. The alternate class had two separate prizes of $2.5 million, one for side-by-side seating and one for tandem seating.

The PIAXP has an Educational Program, funded by a $3.5 million grant from the United States Department of Energy, to engage students and the public in learning about advanced vehicle technologies, energy efficiency, climate change, alternative fuels, and the science, technology, engineering, and math behind efficient vehicle development.

reference

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American Express Company	Business
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