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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.

Jaguar F-Type SVR graphics package makes it look like the Project 7

If you missed out on buying a Jaguar F-Type Project 7 roadster a few years ago, Jaguar will now offer a way to get the next best thing. It's rolling out a new graphics package for the F-Type SVR that adds a set of stripes and contrasting accents that are very reminiscent of the special Project 7 and the race cars that inspired it. And since the current SVR makes the same power as the Project 7, you won't be missing out on much except the custom bodywork. Across the hood and fenders are similar horizontal stripes that only really differ in how the number "575" is included. This number represents the car's 575 horsepower. The front stripes are joined by more on the sideskirts and mirrors, with those on the sideskirts also getting the 575 designation. The stripes are complemented by a grille surround and wing end caps finished with the same color as the stripes. Jaguar will offer the graphics package in six color combinations. It can be had in white with red stripes, black with gold stripes, grey with blue stripes, red with black stripes, blue with grey stripes, or silver with black stripes. Also, while it will be a no-cost option overseas, it will add a bit to the cost of North American examples. Jaguar didn't say how much the option will be here, though. Related Video: Featured Gallery Jaguar F-Type SVR Graphics Package: Geneva 2018 View 11 Photos Related Gallery 2019 Jaguar F-Type SVR 575 with optional graphics View 13 Photos Image Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Design/Style Motorsports Jaguar Coupe Luxury Performance jaguar f-type svr jaguar project 7

Jaguar's futuristic 'Sayer' steering wheel might make your morning coffee

In the not-too-distant future, it would be the only part of the car you'd actually own. If it were the subject of a surrealist painting from 1929, it might feature the tagline, "Ceci n'est pas un volant," the French word for steering wheel. Jaguar calls it Sayer and says it's the steering wheel of the future — the first voice-activated, artificial intelligence steering wheel that will be able to carry out hundreds of tasks and follow you from car to car. "Imagine a future of autonomous, connected and electric cars where you don't own a single car, but instead call upon the vehicle of your choice where and when you need it," the company says. "That's a future vision Jaguar Land Rover is exploring with Sayer, the connected steering wheel that could be the only part of the car you own." Automakers focused on developing autonomous vehicles have proposed doing away with pedals and steering wheels, but this is the first we've heard of that envisions the steering wheel, such as it is, as your veritable car keys in a self-driving, car-sharing world. Jaguar says it could order up a ride to get you where you need to go on time, and it could even advise you when you might enjoy driving part of the journey yourself. No word on whether it can sync with a toaster for breakfast, however. The concept device is named after Malcolm Sayer, a Jaguar designer from 1951 to 1970 who's responsible for the E-Type and D-Type racer, which won the Le Mans 24-hour race three times in a row in the 1950s. It will feature on a Jaguar concept called Future-Type in 2040. In the meantime, it will be unveiled at Tech Fest at Central St. Martins, University of the Arts London on Thursday, Sept. 7, as part of the automaker's "Technology with Heart" presentation. The festival is free to the public Sept. 8-10. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Jaguar Green Weird Car News Jaguar Technology Emerging Technologies artificial intelligence steering wheel voice command