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Weekly Recap: The divergent paths of Tesla and Fisker

There's no doubt that Tesla is downshifting while Fisker has been grinding its gears. But it wasn't always that way.
In the wake of Tesla's recent success, it's easy to forget that there were once two California electric carmakers with bright futures.

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 scores 100th LMP win

Loïc Duval, Tom Kristensen and Allan McNish took the No. 2 Audi R18 E-Tron Quattro to victory at this weekend's Six Hours of Austin at the Circuit of the Americas, marking the 12th victory for the R18 body and the 100th LMP overall victory for Audi since 2000. The milestone victory also saw a second R18, driven by Marcel Fässler, André Lotterer and Benoît Tréluyer, take third place.
Audi's LMP boss, Chris Reinke pointed out the poignancy of snagging the brand's 100th victory in the US, saying, "For Audi, it's a very special result because it was the 100th victory in LMP racing. We celebrated the first victory int he USA as well, in 2000. What could be sweeter than achieving this milestone here?" It wasn't all easy going, though, as the team was racing at COTA for the first time, and the No. 1 car had more than a few difficulties.
This victory marked the 12th for the R18 since it started racing in 2011. For comparison, the R15 TDI only managed three victories between 2009 and 2011, and the R10 TDI took 22 wins between 2006 and 2008. Those cars are overshadowed by the original Audi R8 racecar, which won 63 races between 2000 and 2006. Take a look below for the full press release from Audi, and additional quotes from team members.