The Progressive Automotive X-Prize is heating up as the May 2010 start date approaches, and one of our favorite entrants is the eVARO, a three-wheeled plug-in hybrid from Future Vehicles Technology. The sleek electric vehicle can go from 0 to 60 MPH in 5 seconds and purportedly reaches 275 mpg under certain conditions. And for those times when there isn’t a gas station in site, the eVARO can cruise for up to 90 miles on pure battery power.

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The eVARO was on display last week at the SEMA 2009 show in Las Vegas. According to FVT, the sleek electric vehicle “is designed to out-perform gas powered vehicles, produce no emissions for 90% of its time on the road, and radically change the automotive industry as we know it.

The eVARO has only three wheels for a number of reasons: FVT believes it cuts down on fuel consumption, improves cornering performance, and reduces the vehicle’s overall body weight. The plug-in vehicle takes three hours to completely recharge from a standard outlet. No word on when (or if) the eVARO will go into commercial production, but a $10 million boost from the Auto X Prize can’t hurt.

+ Future Vehicle Technologies

Via Autobloggreen