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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.

Porsche 911 Turbo and Nissan GT-R Nismo star in World's Greatest Drag Race 4

We love Motor Trend's annual World's Greatest Drag Race video. Now back for its fourth appearance, the idea of lining some of the world's fastest cars up for a ten-wide, straight-line, full-throttle run is, well... it's pretty freaking badass.
The lineup this year boasts some impressively fast cars to be sure. The group of ten includes the following darlings: Alfa Romeo 4C, BMW i8, BMW M4, Chevrolet Camaro Z/28, Ford Fiesta ST, Jaguar F-Type R Coupe, Nissan GT-R Nismo, Porsche 911 Turbo S, Subaru WRX STI and, last but not least, the Volkswagen GTI. Give us any one of those for the weekend, and we're happy to take the keys.
It must be said though, that for a publication that draws as much water as Motor Trend does, there are some big cars that we might expect to be here instead. The Lamborghini Huracán or Ferrari 458 Speciale would have added some exotic flare to the list, and the omissions of the Chevy Corvette Stingray (for the second year in a row) and the Dodge Challenger Hellcat are real head-scratchers.

Jaguar working on windows that open when you touch them

Jaguar is working on side windows that will whir up and down not with a push of a button, but with a touch of the glass itself. According to Jaguar Design Director Ian Callum, "For instance, if you want to pull the windows down, you touch a certain area of the glass and you can actually just drop them down." Callum would go on to caution, "These things are all a work in progress at the moment," before pausing and saying, "That's coming." When we asked when we might see such technology deployed in a production car, Callum, who spoke with Autoblog at the Detroit Auto Show on Monday, said, "I don't know when, but we certainly know how to do it." Callum was less forthcoming about how the technology functions, saying, "Oh, I can't tell you (laughs)... it's proximity, mainly." It's not clear whether traditional physical switches mounted on the doors would still be required with such a system. The designer then went on to discuss Jaguar's innovation in proximity-based switchgear – the automaker has already been using the technology for its interior overhead lighting controls and glovebox release. When we asked about any safety concerns that touch-control windows might generate, Callum said, "I think if it's a very specific area, there's absolutely no ambiguity about what you're trying to do – it's fine." Callum knows a thing or two about the need for absolute specificity in this area – when Jaguar introduced its XF sedan with proximity switchgear, it found passengers were accidentally opening their gloveboxes with their knees, which prompted a quick redesign. "It's a whole new genre of disciplines that we have to think about – what is safe," he said. Design/Style Jaguar Technology Luxury 2015 Detroit Auto Show