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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.

Audi pits Star Trek's new Spock versus the original

The only thing that makes a sci-fi geek happier than William Shatner and Patrick Stewart in the same room is when two Spocks collide. Audi has somehow managed to do just that ahead of the release of the second film in this historic franchise's new go-round called Star Trek Into Darkness, which opens in theaters nationwide on May 17th.
We won't spoil the fun (you can, and should, watch it yourself below), suffice it say that the original Spock, Leonard Nimoy, steals the show from the franchise's new Spock, Zachary Quinto. The short video has the two Vulcans battling wits in a series of challenges that quickly comes to involve cars, but Audi manages to outwit them both in the final scene by leaving these logical beings with an emotion that resembles amazement.
This is the second summer blockbuster that Audi has tied its four rings to, the other being Iron Man 3. Whereas Tony Stark's garage and the Marvel universe have more Audis per square mile than people, we aren't expecting to see an Audi logo on the warp drive of the USS Enterprise in this latest Trek tale.

Le Mans champion Allan McNish retires from LMP1 racing

Having won the 24 Hours of Le Mans three times, the American Le Mans Series title another three times and, most recently, the FIA World Endurance Championship, Allan McNish doesn't have much left to prove. Which is why he's retiring, ending this stage of his 33-year driving career on a high note.
In a statement just released by McNish himself and his team at Audi, the Scotsman said "I've had a fantastically successful time with Audi and feel it's the right time to step back from Le Mans sports-prototype racing and to look at other opportunities."
Just what those other opportunities might be is another matter. He's raced in DTM, Formula One and the International Formula 3000 series, where he won two races in 1990. McNish, 44, is also part of the BBC Radio's F1 commentary team, serves as president of the Scottish Motor Racing Club and is often called upon by the FIA to act as a grand prix race steward. Audi says he'll continue to be part of the team, just not in the driver's seat. Given his success in endurance racing, he's surely got a wide variety of opportunities to pursue, and we're looking forward to seeing where he lands.