Navi**rear Camera**meridian Sound**blind Spot**htd/cooled Seats** on 2040-cars

Auto blog

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 releases C-X75 concept build story

If you want to know what was going through the minds of decisionmakers at Jaguar when the company decided to build the batty C-X75 Concept, look no further than the quick video after the jump. Jaguar set about building a car with the performance of a Bugatti Veyron, the electric range of a Chevrolet Volt and the emissions of a Toyota Prius, and they turned to a legendary engineering firm to help make it happen. Williams, the same crew behind Williams F1, helped Jaguar stitch the concept car together, and the result is unlike anything we've seen before.
The twin-charged 1.6-liter four-cylinder mounted amidship is paired with an electric motor at each wheel for a combined output of over 850 horsepower. And, since the whole chassis is hewn from carbon fiber, a production version would've been light enough to give machines like the McLaren P1 and Ferrari LaFerrari a run for their money. Shame they apparently couldn't make the business case work. Watch the concept build story in the video below for yourself.

The 2021 Jaguar F-Type Heritage 60 Edition is fast, exclusive and classically green

The original Jaguar E-Type turns 60 years old next March, and to celebrate, Jaguar is building a limited run of a special F-Type. It's awkwardly called the 2021 Jaguar F-Type Heritage 60 Edition, but it's otherwise a subtle, classy example of the sports car. One of the most noteworthy aspects is that soft green hue. It's Sherwood Green, which was a color offered on the original E-Type, but hasn't been available since the 1960s. It's the only color offered here, and won't be available on other F-Types. Black and aluminum trim accents dot the outside, and they're paired with machine-finish forged wheels. The interior features a light brown and black leather interior, and there are special logos placed throughout. That logo also happens to be shared with the restored Jaguar E-Type Heritage 60 Collection cars. The center stack gets a unique aluminum trim that's patterned to match the back of an E-Type's rearview mirror. The F-Type Heritage 60 Edition is only available in F-Type R specification. That means it gets a supercharged 5.0-liter V8 making 575 horsepower and 516 pound-feet of torque. Power goes through an eight-speed automatic transmission to all four wheels. Buyers do get the choice of either coupe or convertible, though. Only 60 examples of the mean green cat will be built worldwide. Pricing hasn't been announced, but it should be a good bit more than the roughly $104,000 of a base F-Type R. Related Video: