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Formula E is on track financially, with NYC race coming up

LONDON - Formula E could be breaking even already were it not investing for the future, chief executive Alejandro Agag said on Monday after the electric motor racing series reported continuing losses in its latest annual accounts. Accounts filed at Companies House showed Formula E Operations Ltd reduced its operating loss to 33.7 million euros ($38.32 million) at end-July 2016, a period covering its second season, from a previous 62.7 million. Net liabilities rose to 107.2 million euros from 72.1 million, while total revenues reached 56.6 million from a previous 19.7 million. "Everything is going according to plan," Agag, whose city-based series will be racing in New York for the first time on July 15 and 16, told Reuters in an interview at his London offices. "Actually we are doing incredibly well financially according to our plan. "We could have broken even this year but we decided to invest more in marketing and promotion. We decided to add races like the one in New York, which is in year one a race which is costing, we have significant capital expenditure." "It's really up to us when we want to go to break even or not. We could be in break-even now, we could be in break-even next season but we may decide to invest more in marketing and promotion." Agag said the shareholders, including John Malone's Liberty Global and Discovery Communications, were supportive of the strategy and the series had attracted more investors, sponsors and car manufacturers. The New York races will be held in Brooklyn's Red hook neighborhood, with lower Manhattan and the Statue of Liberty as a backdrop with technology partner Qualcomm securing the naming rights. MANUFACTURER INTEREST Agag, whose series plays down competition with Liberty Media-owned Formula One, said more carmakers were set to join a series increasingly aligned with their commercial focus. "I think Formula E has become the preferred destination for manufacturers and there are a few reasons for that," said the Spaniard. "Obviously, one is that it is electric and manufacturers are more and more focusing on electric cars...and we are the only platform really to help them promote that technology and those types of cars. "And second, because of the cost. The cost of the team in Formula E is very moderate." Whereas top Formula One teams can burn through $300 million a year, as can the likes of Toyota in the World Endurance Championship, the budgets of successful Formula E teams are between 10 and 15 million.

Chocolate-covered Audi TT is more treat than trick

'Tis the season of chocolate, and as we sit at our desks eating entirely too many Reese's Peanut Butter Cups, we're left salivating over this particular Audi TT. Aside from the fact that it's the new, third-generation model, which is a darn desirable in and of itself, it's also covered in chocolate. Yes, chocolate.
There are 27,000 individual pieces on this two-door coupe, and they've been affixed courtesy of Belgian chocolatiers Joost Arijs. The sweet car was developed for a lifestyle and design exhibition in Kortrijk, Belgium.
Take a look at the confectionary-covered coupe in the video from WOW TV.

Audi claims America unfairly pushes electrics over diesels, backed by survey

Audi, in case you haven't noticed, is quite committed to diesel technology. It champions oil burners in both the racing world and to consumers, offering American customers a total of five diesel-powered models, which is more than any brand in the US market save for its parent company, Volkswagen. In a bid to prove that diesels aren't some passing trend and are actually gaining momentum in the US, Audi commissioned Harris Interactive to conduct a poll of 1,600 American drivers, to see how they felt about diesel power. The resulting statistics are rather surprising.
57 percent of the 1,629 drivers surveyed think the government has unfairly favored hybrids and electrics over diesel power
65 percent of drivers support laws being passed to make diesel more accessible, while 66 percent support tax incentives for diesel-powered vehicles