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Felicity Ace sinks with thousands of VWs, Porsches, Lamborghinis

The stricken ship Felicity Ace sank overnight after a week of salvage efforts ultimately proved unsuccessful. The ship, which was carrying up to 4,000 VW Group cars, went to the bottom unexpectedly while a salvage team was attempting to tow it to shore, Bloomberg reports.  "Initial reports from the local salvage team state that the vessel had sunk at around 9AM local time having suffered a list to starboard," Mitsui O.S.K. Lines transportation company (MOL), which owns the Felicity Ace, said in a statement released early Tuesday.    "The last vessel position was around 220nm off the Azores," MOL said. "The salvage crafts will remain around the area to monitor the situation. Further information will be provided as it becomes available." The ship sank after being battered by waves and listing 45 degrees to starboard, the ship’s operator said. “The weather was pretty rough out there,” Pat Adamson, a spokesperson for MOL Ship Management (Singapore), a unit of Mitsui OSK Lines Ltd., said by phone. “And then she sank, which was a surprise.” VW, Porsche, Audi, Bentley and Lamborghini-branded models were aboard the ship, which was headed to Rhode Island from GermanyÂ’s Emden port when the fire broke out on Feb. 16.  Rough seas and ongoing fires fueled by the lithium-ion batteries of EVs onboard delayed the ship's salvage and recovery operations for the better part of a week. While the likelihood of salvaging the smoke and potentially fire- and water-damaged vehicles from Felicity Ace's hold was slim to none, some had held out hope that their special-ordered vehicles might survive the mishap.  The Panama-flagged Felicity Ace was safely evacuated of its 22 crew members by the Portuguese navy after a fire started in its hold more than a week ago. The ship can carry up to 4,000 cars. European carmakers declined to discuss how many vehicles and what models were on board, but it appears to have been transporting approximately 2,500 cars, including roughly 1,100 Porsches and an undetermined number of Volkswagens.  The cars aboard were on order. Porsche customers in the United States were being contacted by their dealers, the company said. “We are already working to replace every car affected by this incident and the first new cars will be built soon,” Angus Fitton, vice president of PR at Porsche Cars North America, Inc., told The Associated Press in an email. The ship sank in water nearly 10,000 feet deep, the Portuguese Navy said.

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.

Recharge Wrap-up: Electric Bayliner conversion, China considers EV mandates

An electric mobility enthusiast converted a Bayliner boat to electric power. Using 10 Tesla modules to build a 32-kWh battery pack, Scott Masterson's 2016 Bayliner 175 now uses an electric motor in place of the original 3.0-liter Mercruiser engine. With a top speed of about 53 mph and a range of about 25 miles, Masterson can enjoy a nice cruise on the water without the accompanying gas fumes. He says the conversion wasn't all that complicated, and it took him about three months of part-time work. Check it out in the video above, and read more at Electrek. Audi's updates to the 2017 A3 include the E-Tron plug-in hybrid. Inside the car, it will likely get Audi's "Virtual Cockpit" instrument display. The MMI infotainment system will be updated, with available Apple Carplay and Android Auto functionality. Slight changes to the headlights, taillights, and grille will make up the bulk of the exterior visual changes. Its powertrain will remain unaltered from the 2016 model, including its 83 MPGe combined rating and 16 miles of all-electric driving range. Read more at Green Car Reports. Hyundai has delivered its first hydrogen-powered car to Quebec. The Centre de Gestion de l'Equipment Roulant (Rolling Stock Management Center), which manages the province's government fleets, took delivery of a 2016 Hyundai Tucson Fuel Cell. It is leased in partnership with the University of Quebec's Hydrogen Research Institute of Trois-Rivieres, where the vehicle will be refueled. Read more from Green Car Congress. China is considering mandates for cleaner cars similar to those imposed by California. Unlike its current subsidy-based incentives, China could potentially require automakers to either produce or import more electric vehicles or purchase carbon credits from automakers that do. A draft of the legislation from the National Development and Reform Commission would fine non-compliant automakers at five times the price of the credits. "Without question, this will be good for the industry and will promote the development of all types of clean-energy vehicles," says China Association of Automobile Manufacturers Deputy Secretary General Ye Shengji. Compliance would be voluntary for smaller automakers. Read more from Automotive News.