Recent videos from the X PRIZE Foundation

Watch More X PRIZE Videos at Wired

Inventors to race for millions in auto-efficiency prize

"Peter Diamandis, the founder and chief executive officer of the X Prize Foundation, is issuing a worldwide challenge for teams to come up with an efficient car model that can be mass produced. The prize will be officially launched later this year, and teams will have about a year and a half to build their vehicles before the first qualifying race in 2009."

Read the article and watch the full interview on CNN's website here.