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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 RS5 gets big turbocharged power and an angry new look

Menace has always been one of the keys to Audi's RS 5 coupe, from the fat wheel arches to the rumbling evocative exhaust note to the brutal straight-line performance. That's not going to change with the new version, but Audi is talking loudly and proudly about how the RS 5 debuts the new RS design language, partly in the hope that people don't labor on the disappearance of its V8 engine. Yes, the all-new RS 5 Coupe uses the same Porsche-engineered biturbo V6 as the Porsche Panamera, and uses it to such effect that it extracts 444 horsepower and 443 pound feet of torque from its 2.9 liters of displacement. Those 443 lb-ft is a full 125 more than the V8 could ever muster, and it's available from 1,900 rpm to 5,000 rpm. That kind of power is sufficient to push the RS 5 to 62 miles per hour in 3.9 seconds on the way to a limited 155-mph top speed (there's an optional 174-mph limiter, too). The all-wheel-drive Quattro RS 5 Coupe doesn't suffer much in performance in the switch from the naturally aspirated 4.2-liter V8 to the force feeding of a V6, but it remains to be proven whether the sound can be as captivating. The Porsche-sourced engine continues the current trend of "hot vee" engines, situating both of its turbochargers inside the vee-angle of the engine, and combines centrally-mounted direct fuel injectors with a short stroke to boost power and improve economy. The high-compression Miller-cycle motor also lets the RS 5 Coupe pull its consumption down 17 percent to 32 miles per gallon (or 197 grams/km of CO2 emissions) on the European driving cycle. Expect US mileage numbers to be significantly lower. The new RS 5 is also significantly lighter, pulling 132 pounds from the previous V8-powered model's mass, despite all the turbo plumbing, to weigh 3,649 pounds. A BMW M4-style carbon-fiber roof helps keep the weight down. Audi feeds its newfound V6 power through an eight-speed automatic transmission and permanent all-wheel drive, with 60 percent of the drive nominally headed to the rear end. The hard-turning sport differential is an option. Audi's reborn RS 5 rides on five-link suspension systems at both ends to keep suspension bits precisely location and improve ride quality, while sitting 0.8 inches lower than the standard A5 Coupe. It has the usual Audi Sport array of go-faster options for its go-fastest front-engined coupe, including the more aggressive Dynamic Ride Control damping system, carbon-ceramic brakes and sharper steering ratios.

Audi Adaptive Cruise Control | 2017 Autoblog Technology of the Year Finalist

Not your father's cruise control, Audi's adaptive system is another step on the road to autonomous driving. That earns it a spot as one of our Technology of the Year finalists. Audi Adaptive Cruise Control can slow down or speed up your vehicle depending on the conditions. It's also capable of coming to a full stop and then resuming speed. This allows the vehicle to move with traffic without engagement from the driver using Traffic Jam Assist at speeds up to 40 miles per hour. It's not being marketed as an auto-pilot setup. Rather, this system can increase driver safety by automatically braking as the vehicle in front slows and then accelerating once the path becomes clear. The cruise control has five programmable settings to regulate distance between vehicles. Linked with the navigation system, Audi's ACC suite uses a camera and radar to respond to its environment, a key development for future systems that will need to communicate with the grid. The system can read street signs, allowing it to slow down or speed up. Additionally, when a destination is set, the vehicle will automatically brake when a turn is looming to alert the driver he or she needs to take action. It will brake through the turn and then speed up upon completing the maneuver. We especially liked this, as many navigation systems don't inform the driver when to turn or take an exit until the last possible moment. Further, when navigating curves, the Audi system will brake the vehicle and resume speed as conditions require. This Adaptive Cruise Control is a layer of artificial intelligence we can get on board with. It's like having a co-pilot to assist the driver when the inevitable fatigue or distractions appear. It engages like a normal cruise control system. Simply pull the stalk in the steering wheel mount, and there's a button to modulate the distance. We tested Audi's Adaptive Cruise Control on an A4, where it is an $1,800-option as part of the Driver Assistance Package. Working in combination with Audi's Virtual Cockpit and head-up display, ACC provides the driver a sense of awareness and greater level of information than other systems on the road. Companies like Volvo and Porsche offer similar setups, but we like the intuitiveness of the Audi program. Automakers have been saying for years that the autonomous technology is essentially here, they just need the infrastructure and regulations to catch up.