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Jaguar likely moving HQ to Britain's most iconic racetrack

Jaguar Land Rover looks increasingly likely to make Britain's iconic Silverstone race track the automaker's new headquarters. There isn't a final deal in place yet, but the British Racing Drivers' Club, which owns the circuit, plans to have the membership vote on whether the negotiations should move forward, according to Autosport. BRDC leaders already presented the plan to members, and they were open to the idea. "The response was favorable so we will now set up an EGM for the members to vote and give the board a mandate to proceed with the deal and continue with the negotiations with JLR," BRDC president Derek Warwick told Autosport. There's no guarantee yet that JLR actually completes the deal. "There's still a lot of work to do to get the deal to where both sides are happy and more importantly what's right for the BRDC and its members." Warwick said. Rumors in early December suggested JLR was among the firms submitting bids to purchase the track, and the automaker allegedly offered 22.7 million pounds ($34.1 million at the time) for it. The company would also reportedly invest nearly $80 million to renovate the site, including adding a museum, experience center, hotel, and offices. The track would still be open for motorsport, too. Silverstone has hosted the Formula One British Grand Prix many times over the decades, and organizers signed a 17-year deal in 2009 to keep things that way well into the future. Series like the FIA World Endurance Championship, MotoGP, and British Touring Car Championship also compete there. Related Video:

Jaguar I-Pace eTrophy: New EV, new series — Jaguar's going racing

Luxury carmaker Jaguar is teasing the 2018 launch of a five-seat electric sports car based on its I-Pace concept as its first battery-electric vehicle. The Indian-owned automaker released images of the sports car as part of its announcement that it will launch the world's first international production EV race series in 2018. A performance SUV version of the I-Pace, previously reported and presumably based on a concept revealed late last year, is also planned for late 2018. Jaguar has said it plans to electrify all new models after 2020, part of a wave of similar announcements as governments in England, China and elsewhere have announced plans to eventually ban the sale of gasoline or diesel cars. In its announcement, Jaguar said only that the race series would "support the launch" of the I-Pace five-seater. View 7 Photos At the Los Angeles auto show last year, Jaguar said its concept I-Pace crossover SUV would have a 220-mile range from its 90-kilowatt-hour lithium-ion battery pack, designed and engineered entirely in-house. The Jaguar I-Pace eTrophy series is a support series for the FIA Formula E championship and will exclusively feature up to 20 all-electric Jaguar I-Pace racecars across 10 races in cities including Hong Kong, Paris, Sao Paolo and New York. The racecars will be built at the Jaguar Land Rover Special Vehicle Operations in Warwickshire, England. "With the launch of the Jaguar I-PACE eTROPHY, we have strengthened our commitment to battery electric vehicles, international motorsport and Formula E," Gerd Mauser, chairman of Jaguar Racing, said in a statement. "As a British team, we are proud to announce today the launch of the world's first production battery electric vehicle championship." He added: "Ultimately this innovative series will enhance the technology in our future electric vehicles and benefit our customers." Jaguar says it will release technical specifications, race calendar and costs for the I-Pace eTrophy in 2018. Related Video: Green Frankfurt Motor Show Jaguar Electric Racing Vehicles Performance Sedan Frankfurt 2017 jaguar i-pace

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.