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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.

2016 Technology of the Year Finalist: Audi Virtual Cockpit

The heart of most infotainment systems is a touchscreen in the center console. In many systems, some information can be sent to the gauge cluster in slightly redacted form – stripped-down navigation commands, basic audio info, that sort of thing. To get the full story, the driver has to take their eyes off the road and look to the middle of the dashboard. Audi's Virtual Cockpit, in essence, ditches the center screen and places all that information in the gauge cluster. The high-resolution TFT screen is just over a foot wide, and it has two main modes: Classic view, and Infotainment view. Classic looks like many other traditional TFT gauge clusters, with large traditional gauges and the ability to display a decent amount of information in the space in-between. Go into Infotainment view, and the gauges shrink and head to the lower corners, freeing up a much larger amount of real estate for, say, the nav system map. The gauges also get out of the way when utilizing the menu, entering a destination, or that sort of thing. The four main modes are standard stuff. Virtual Cockpit will show you navigation, media, phone, and trip computer information in large or small formats. You interact with Virtual Cockpit with a familiar MMI wheel-type controller in the center console, like in many other Audis, or with buttons and a scroll/push wheel on the left side of the steering wheel. Climate control functions are handed by physical controls cleverly integrated in the center three vents. It takes a lot of processing power to make all this work as well as it does, and that's handled by NVIDIA's Tegra 3 processor – a quad-core processor usually seen in tablets and smartphones. The system is quick and responsive, and we found the high-resolution screen to be impressively sharp. If there's a downside, it's that Virtual Cockpit doesn't leave an opportunity for a passenger to step in and, say, enter a destination or change the radio station without altering what's right in front of the driver. It could be inconvenient at best, distracting at worst, to have the nav system directions you're trying to follow suddenly be superseded by the audio menu. Adding a small secondary screen for the passenger could be one fix; a connected companion smartphone app another. In the meantime, it's an impressive implementation of a clever idea.

Audi TT Quattro Sport Concept takes the next-gen to the extreme

There's little doubt that the new Audi TTS and its 310-horsepower, 2.0-liter, turbocharged four-cylinder will be very quick when released to the general public. As a means of reminding us that Audi can do much more with the little TT, though, the German manufacturer has presented this, the TT Quattro Sport Concept, alongside its litter of new sports cars.
Complete with a 420-horsepower, 2.0-liter, turbocharged engine - yes, it really puts out 210 horsepower per liter - the TT Quattro Sport can snap to 62 miles per hour in just 3.7 seconds. 331 pound-feet of torque is also on offer, meaning this one-off TT outguns the TTS by 110 horsepower and 51 pound-feet of torque.
An S-Tronic transmission shuffles the power about, while the car itself rides on a lowered and stiffened suspension. 20-inch alloys are featured with centrally locking, racing-style hubs. Those racy wheels are housed in wells that have had their arches stretched an additional 1.18 inches, which, along with the lowered suspension, contribute to the TT's aggressive looks.