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Formula 1 seeking independent engine supplier

Formula 1 could get a new engine supplier in the near future, if Bernie Ecclestone and the independent teams gets their way. According to Autosport, the FIA is soon to open the contract up for bids, and there are already several manufacturers that have expressed interest. Currently Mercedes, Ferrari, Renault, and Honda supply engines – both to their own premier teams (Red Bull and McLaren for the latter two) but also to other teams like Williams, Sauber, and Toro Rosso. Because the new turbocharged V6 hybrid power units cost those four suppliers so much to develop, they're charging their customer teams big bucks – around $20-30 million per season – to provide the engines. These costs are much higher than the $10 million or so it used to cost to purchase a V8 engine under the previous regulations. Ecclestone figures it's time to bring in another supplier who will not run their own team and not play favorites, but will supply engines to private teams at a lower cost. There are already a number of potential suppliers under consideration. One of them is said to be Cosworth, which has a long history in the series stretching back to 1963. The British firm stepped back between 2007 and 2009, returned in 2010, and dropped out again after 2013. The development could be of particular benefit to Red Bull, which has been unable to find an engine supplier and could be forced out of the series as a result. The team has long been powered by Renault, but that relationship has grown sour. And the other three engine manufacturers have not been forthcoming in offering an alternative arrangement for the team. Related Video: News Source: AutosportImage Credit: Cosworth Motorsports Ferrari Honda Infiniti McLaren Mercedes-Benz Renault F1 engine contract

Infiniti invites 22-year-old to work with Red Bull F1 team

Infiniti launched the Infiniti Performance Engineering Academy (IPEA) in 2014, a global talent search for three engineering students from eleven international markets that the automaker would select for a one-year assignment with its Formula One team and road car division. The second year's IPEA competition has concluded, the class of 2015 expanding to five students that get eight months at Infiniti Red Bull Racing headquarters in Milton Keynes, and four months at the company's European Technical Center in Cranfield, UK. Twenty-two-year-old Alex Allmandinger (pictured), a student at the University of Illinois and one of 11 US finalists, is one of those five winners. He'll head to Milton Keynes next month to settle in with the other winners from China, Europe, Russia, and Saudi Arabia. Based on interviews with last year's winners, the IPEA doesn't stick the students in a corner, either – one of them said he had designed seventy parts that went into the RB11 F1 racecar. The video above speaks to some of this year's winners, the video below talks to last year's, and there's a press release below that. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Infiniti gives one U.S. engineering student the Formula One career opportunity of a lifetime NASHVILLE, Tenn. Aug. 20, 2015 – Infiniti has announced that an engineering student from the University of Illinois is one of five global winners of the 2015 Infiniti Performance Engineering Academy (IPEA). For one year, Infiniti will provide 22-year-old Alex Allmandinger with the opportunity to work in Formula One with the Infiniti Red Bull Racing team. After beating 11 other finalists from around the country in an intense shootout event, Allmandinger will move to Infiniti Red Bull Racing headquarters in the UK in September to begin a 12-month placement working with the four-time Formula One World Championship Infiniti Red Bull Racing team, as well as with Infiniti. Allmandinger will spend eight months working on Vehicle Design at the team's headquarters in Milton Keynes, UK – and four months working at Infiniti's European Technical Center in Cranfield – on road car development projects. Formula One technology is more relevant to the automotive industry than ever and will play a key role in the ongoing transfer of technical knowledge and expertise between the race team and Infiniti.

Nissan could report first quarterly loss since March 2009

TOKYO — Nissan may report its first quarterly loss in more than a decade on Thursday because of slumping sales, sources familiar with the company said, adding more pressure on efforts to rebuild the company after Carlos Ghosn's ouster. Deteriorating profits underscore the challenges facing Nissan, which is unwinding many of the expansionist strategies championed by ex-Chief Executive Officer and Chairman Ghosn by slashing jobs, production sites and product offerings to save cash and ensure its survival. In addition to slumping sales, production disruptions caused by China's coronavirus outbreak could also drag profits lower. Three senior officials at Japan's No. 2 automaker told Reuters that they anticipate a poor results announcement on Thursday, with one of them calling the figures "dismal". Two of the officials cautioned that there is the possibility of an operating loss, which would be the first quarterly loss since the period ending in March 2009. Nissan said it could not comment on its financial results ahead of its official announcement. The company is likely to report operating profit of 48.6 billion yen ($442.5 million) for the quarter ending in December, less than half the 103 billion yen profit a year ago, according to SmartEstimate's survey of three analysts, who revised their forecasts in January. However, those forecasts were issued before the release of the December vehicle sales figures on Jan. 30, which show third-quarter sales dropped by 11% from the year earlier period, according to Reuters calculations. That is the biggest quarterly slump of its current sales downturn that began two years ago. That sales decline led one auto equities analyst based in Japan to scrap his forecast and also warn that Nissan could post a loss. "It will be a question of whether there will be a profit or a loss. For the quarter, a loss is a possibility," he said, declining to be named as his forecast had not been updated to reflect his latest view. One of the three Nissan officials said there is a risk the automaker may cut its full-year profit forecast of 150 billion yen, which would be an 11-year low. The company announced that forecast in November after an initial 230 billion yen outlook.