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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.

Audi will have an autonomous car in 2020 using NVIDIA tech and AI

Audi and NVIDIA have been working together for a while, with most of the results being fancy infotainment systems like the current version of MMI and Audi's Virtual Cockpit display setup. Now the two are partnering to build autonomous vehicles that will leverage NVIDIA technology. Audi has a demonstrator now and promises a fully autonomous car for the year 2020. The tech underlying these new self-driving vehicles is NVIDIA's DRIVE computing platform. It uses the latest in artificial intelligence concepts, including neural networks, which are basically computer science's way of modeling decisionmaking after the way the human brain works. The network is able to learn and improve as it goes by making new connections. Machine learning tasks being handled by neural networks include computer vision, which can use a combination of sensors and cameras to help a computer, in this case the car, figure out what's going on in an environment to navigate through it. The companies are already demonstrating a version of DRIVE, the DRIVE PX 2, in the autonomous Audi Q7 shown above. The crossover is able to figure out its own path and can sense and drive on different types of surfaces, including pavement, grass, and dirt, plus it can navigate the cones of a simulated construction zone while reading dynamic detour signs. In 2018, Audi will expand testing of its autonomous vehicles on California public roads. The manufacturer has been permitted to test cars in the state since 2014. In announcing the expansion, Audi makes a point to mention it intends to follow applicable laws to the letter, which seems like more than a veiled reference to the trouble Uber found itself in recently when it didn't quite meet testing requirements in San Francisco. Audi has also promised Level 3 autonomy from the 2018 A8, which will feature a system called Traffic Jam Pilot to control the steering, throttle, and brakes at speeds below 35 mph. The company's previous autonomous work includes a self-driving RS7 track car named Bobby, which our own Jonathan Buckley got to race against in the Translogic episode below. Related Video:

Audi + Airbnb: What it's like to live in a car commercial

Miles from civilization, in a lonely stretch of Death Valley, lies an unlikely sight: a sleek contemporary home – all glass, concrete, and metal – and a pair of equally modern 2017 Audi R8 V10 Plus coupes. You might have seen the combo in a TV commercial that ran during the Emmys, a spot that had us asking an obvious question: What are these objects doing together, smack in the middle of nowhere? Audi partnered with Airbnb to offer the home and the cars to seven guests. Somehow, we became lucky number eight. The spot, entitled "Desolation," promotes the carmaker's flagship alongside what ended up being an extreme rental property. The idea to build the three-bedroom, 1,200-square-foot house came from Italian writer and author Fabrizio Rondolino, who was long smitten with American desert. The home was built in 2010 using prefabricated construction by San Francisco-based architecture firm nottoscale. It's a spare elevated structure, with floor-to-ceiling windows cinematically framing the sky. To set the four-wheeled mood, images of the R8 sit where family photos would go, and a laser-cut aluminum sign over the entrance announces it as the "Home of the R8." In acknowledgement of the remoteness, a satellite phone sits charged up with clearly printed dialing instructions. An Easter egg from the ad – two jars of Leadfoot Coffee – hides in plain sight on the kitchen counter. You can rent houses like this elsewhere on Airbnb, but here's where gearheads start paying attention: The two Audi supercars counter the architectural tranquility with a combined 1,220 horsepower and an opportunity to rip through the desert at obscene speeds (not to mention several other extras you don't get with a standard vacation rental; more on that later). Seven three-day/two-night stays were offered through an extremely limited Airbnb listing. The buzz surrounding the campaign was so strong that the place booked up in less than six seconds. For what you get, this was a steal. The per-night price of $610 – a reference to the V10's horsepower figure – wouldn't begin to cover the behind-the-scenes logistics needed to coordinate and execute this marketing exercise. I was the sole member of the media invited to experience the Audi Airbnb and got to spend a weekend in this desert playground to see what it was all about. My weekend began when an Audi rep met me and my family at Las Vegas International Airport following a quick flight from Burbank, California.