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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.

Has the Jaguar XKR-S Sportbrake leaked out early?

Want to haul ass down the Autobahn with the whole family and all their gear in tow? Forget that Porsche Cayenne or Jeep Grand Cherokee SRT8 - what you'll want is a power wagon: something like an Audi RS6 Avant or Mercedes-Benz E63 AMG Estate. Unfortunately there are precious few of these performance station wagons on the market anywhere, especially with American offerings like the Cadillac CTS-V Sport Wagon on its way out and the Dodge Magnum SRT8 long gone. But there's a new challenger emerging.
That'd be the Jaguar XFR-S Sportbrake, a hi-po estate from Coventry that's been a long time in the making. And now it's apparently almost here. (Only by "here," we mean "there," as it's not likely ever to come to the United States.)
Apparently set to be unveiled at the Geneva Motor Show is a Frankenstein-style cross between a Jaguar XF Sportbrake and XFR-S performance sedan, taking the best elements from both. From the former, that means the extended roofline that gives it the cargo capacity of a small crossover. From the former, that means a 5.0-liter supercharged V8 producing 542 horsepower and 502 pound-feet of torque, driving the rear wheels through an eight-speed automatic transmission.

Lister reveals first continuation Knobbly roadster at Autosport

It's been over a year since we reported on a plan to revive Lister Cars, and now the storied British racing constructor has revealed the first production continuation example of its legendary Knobbly roadster. Built to the same specifications as the original from 1958, using the same drawings and equipment, the reborn Knobbly features aluminum bodywork and a race-prepped 3.8-liter straight six out of a Jaguar D-Type and producing 330 horsepower. Revealed at the Autosport International race car show in Birmingham, the new Knobbly arrives on Lister's 60th anniversary and less than a month after the passing of its founder, Brian Lister. Only ten examples like this one will be built, all of which have already been spoken for, prompting Lister to consider an additional three examples. Each is eligible under FIA regulations to compete in vintage racing events, with performance specs quoting a 4.3-second 0-60 time and a top speed of 181 miles per hour. LISTER CARS' REBORN 'KNOBBLY' MAKES PUBLIC DEBUT AT AUTOSPORT INTERNATIONAL - Lister Cars' reborn 'Knobbly' racer has made its public debut at Autosport International - Built to the very same specification as the original 1958 'Knobbly' it uses the late Brian Lister's original drawings and manufacturing jigs - Lister has received an overwhelming response to its limited run of ten continuations and order books are full - Lister Cars is now considering creating three individual final editions each celebrating the racing pedigree of the 'Knobbly' in a unique and memorable way Lister Cars' reborn 'Knobbly' racer has made its public debut at Autosport International at the NEC Birmingham. Celebrating Lister's 60th anniversary, the reborn 'Knobbly' is built to the very same specification as the original 1958 'Knobbly', using the late Brian Lister's original drawings and manufacturing jigs. It is powered by a race-prepared Jaguar D-Type 3.8-litre straight-six, producing 330bhp. All 'Knobbly' models are built at Lister Cars' Cambridge factory to meet relevant FIA racing regulations, with owners able to compete in a series of Lister historic race meetings planned during 2015. Despite following an original design laid out more than 55 years ago, the reborn 'Knobbly' has performance to match modern sports cars; it can accelerate from 0-60mph in 4.3 seconds and hit a top speed of 181mph. Lister Cars has already received an overwhelming response to its limited run and the 10 cars are now sold out.