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Jaguar Land Rover names ousted Renault boss as new CEO

LONDON — Jaguar Land Rover (JLR) has picked ousted Renault boss Thierry Bollore as its next chief executive, with a mission to return Britain's biggest carmaker to profit after a big hit from the COVID-19 pandemic. Bollore took over at Renault in January 2019 after the fall of Carlos Ghosn, but was always viewed as close to the French carmaker's longtime boss and was pushed out in October when the company was looking for a fresh start. Bollore will take over at JLR on Sept. 10, replacing Ralf Speth, whose tenure ends after more than 10 years. "It will be my privilege to lead this fantastic company through what continues to be the most testing time of our generation," Bollore said in a statement on Tuesday. JLR was hit this year first by disruption to sales in China and then by lockdowns across Europe and North America as the COVID-19 outbreak spread around the globe. In 2019, it cut jobs to address tumbling diesel sales, which helped it return to profit. But as the pandemic struck, it slumped to a pretax loss of 422 million pounds ($545 million) for the year ended March 31, 2020. The company has already taken steps to tackle the crisis, including agreeing to a loan facility of around $700 million with lenders in China and further staff reductions. JLR is also in talks with the British government over potential support, according to media reports. Bollore takes over a business that built just over 500,000 cars in 2019/20. He faces a number of tasks, including how to handle the Jaguar brand, which underperforms the Land Rover marque, how quickly to electrify its lineup and a potential hit from Brexit if trade barriers are imposed. JLR has a partnership with BMW on electrification, and parent company Tata Motors recently recommitted to the company. "Tata Group recognizes and values Jaguar Land Rover's future potential highly," said JLR Chairman Natarajan Chandrasekaran earlier this month. "That is why this company is central to our global automotive presence – a presence that we intend to develop for years to come." Related Video:         (Additional reporting by Chris Thomas in Bengaluru and Gilles Guillaume in Paris; editing by Jason Neely and Mark Potter)

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 Activity Key | 2017 Autoblog Technology of the Year Finalist

In principle, the Jaguar Activity Key is a good idea. It's simple, useful, and relatively inexpensive. Unfortunately, in our testing it was less than reliable. Here's how it's supposed to work: To lock the car, leave your keys and fobs inside the vehicle, and strap the band on your wrist. Then, within 30 seconds, place your banded wrist against the letter J of the Jaguar script on the back tailgate. When you come back, you can unlock the vehicle by pressing the tailgate opening button, then, again within 30 seconds, placing the Activity Key band against the J of the Jaguar script. We chose the Jaguar Activity Key as a finalist for our 2017 Tech of the Year award because it's an uncomplicated device with lots of potential customers. Jaguar says the wristband is "robust and fully waterproof." Swimmers, surfers, kayakers, hikers, and even couples out for a sunny-day picnic could use a feature like this wristband key. Plus, wearables are pretty new as a category in general, and even more so in the automotive space. We didn't go skydiving with it or anything (an activity Jaguar cites as a potential usage case), but we did dunk it in water with no ill effects. While it all sounds good in theory, actually getting the Activity Key to work effectively was unexpectedly difficult, especially when the cameras were rolling. We tried varying the timing between closing the door and using the wristband, as well as between using the tailgate button and the wristband. It worked about half the time, regardless of our process or who was wearing the wristband. Whether our issues with the wristband were due to interference, new-technology teething problems, or just electrical gremlins, the idea of purposely locking the keys inside an automobile without having a foolproof way to unlock it gives us reason to pause. The Activity Key is a $400 standalone option on the 2017 Jaguar F-Pace, but only on Prestige, R-Sport and S models. The least expensive F-Pace with Activity Key costs $51,095.