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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 is working on a suspension that gets power from bumpy roads

Regenerative brakes aren't new. They're on virtually every hybrid and EV, and they're even starting to pop up on traditional gas-powered cars, like with the i-ELOOP-equipped Mazda6. But even with these systems, cars can get more efficient, and Audi thinks it found yet another source of wasted energy. The source? The suspension. The idea is to turn the kinetic energy that goes into the dampers into usable energy instead of as waste heat. Audi isn't the first auto company to come up with regenerative suspension – nearly three years ago, ZF introduced its GenShock technology, which used a valve attached to traditional, oil-filled hydraulic shocks to recapture kinetic energy from movement caused by bumps in the road. Audi's prototype technology, which it calls eROT, replaces traditional dampers with horizontally oriented electromechanical rotary dampers. eROT is apparently short for electromechanical rotary damper. Neat. In testing, eROT recovered an average of 100 to 150 watts on a typical German road, three watts from a fresh piece of pavement, and 613 watts on a rough stretch of tarmac (wattage is calculated as power over time, so this is actually the rate at which the system harvests energy). The dampers channel that energy to a tiny, 0.5-kWh, 48-volt battery. The prototype is claimed to cut CO2 emissions by three grams per kilometer (4.8 grams per mile), while the company believes a future production version could save up to 0.7 liters of fuel per 100 kilometers of driving. Converting the savings to American miles per gallon isn't easy, so we'll use a practical example. In the US, the Q7's supercharged 3.0-liter V6 returns a combined rating of 21 miles per gallon, which works out to 11.2 liters per 100 kilometers. Apply eROT's 0.7L/100km savings, and the Q7's economy would improve to 10.5L/100km, or 22.4 mpg, a 1.4-mpg improvement. That's not huge, but because math, 0.7L/100km is more dramatic on a more fuel efficient vehicle – taking an A3's 27-mpg combined rating and adding eROT would drive efficiency up 2.4 mpg, for example. There are a few other big benefits beyond fuel and emissions savings – Audi claims eROT provides a more comfortable ride than traditional active suspensions, because engineers can tune the compression and rebound strokes independently of each other. Beyond that, the horizontally oriented rear suspension geometry means more cargo space, since the dampers don't poke up into the cabin like they normally do.

China probing German automakers over spare parts

The Chinese market has proven to be a boon to German luxury automakers. However, the way that the companies have allegedly been controlling their supply of spare parts has begun to draw the ire of the nation's government. According to insiders speaking to Bloomberg, officials from the country's economic planning organization have opened a probe into Audi, BMW, Mercedes-Benz and some Japanese carmakers over claimed price inflation and limiting supply.
Specifically, the investigation centers around two aspects of how the companies do business, according to Bloomberg. Investigators want to know whether the original equipment component makers are able to sell spare parts only to automaker-authorized dealers or if they are also available to independent shops. There is also the issue of whether the price markup on replacement pieces is too high. The tight controls could be partially explained by China's reputation for producing counterfeit parts.
Evidently, the investigators haven't checked parts prices at car dealers elsewhere in the world. At least in the US, paying more at the dealer for factory components just goes along with owning a vehicle. If evidence of price fixing is found, the companies could face fines the equivalent of millions of dollars, according to Bloomberg.