Xj Sport Low Miles Clean Cold A/c Similar To Xjr Vanden Plas Xj6 S-type Xjs Xj12 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.

Is Jaguar testing an electrified XE?

Rumors about Jaguar Land Rover moving further into electrification for its models have been circulating for the last several months. Thanks to some new spy shots, there's even more evidence that the company could have a hybrid or electric model on the way. According to our spies, this rather innocuous looking XE was spied with a group of camouflaged XF and F-Pace prototypes in Spain. Everything about the luxury sedan looks fairly stock until you see the rear end. There, just under the taillight, is a circular blue badge with an "E" in it. That emblem and the vehicle being with other test cars hints at the possibility of Jaguar doing something electrified with the vehicle. Unfortunately, there are no other clues here to determine exactly what is happening underneath the skin. Jaguar Land Rover has been insinuating its intention to build greener models for a while. The company even founded an engineering center partially for them in 2013. A fully electric powertrain is reportedly under development to slot into the F-Pace and maybe also for a Land Rover. Meanwhile, Jag has a trademark on the name EV-Type. With these new photos, the signs of JLR's coming electrification continue to mount.

Jaguar takes bite out of Mercedes' Magic Body Control chicken ad

We were quite impressed by Mercedes-Benz when it aired its Magic Body Control commercial, starring a group suitably funky chickens demonstrating their ability to jive to Diana Ross and the Supremes. Now, Jaguar has taken the opportunity to poke some fun at its German rival, releasing its own take on the Magic Body Control spot, and um, there's a big cat involved.
You'll really want to take a look at this video, which is just another sign that in terms of clever ads, Jaguar is doing quite well. We aren't sure if "Jaguar vs. Chicken" will make it onto TV any time soon, but it's still fun to see the British brand take the mickey out of Mercedes - it's rare to see automakers go after each other so bluntly in their marketing efforts. Scroll down to watch the video (we've also included a bonus video, Jag's recent "Cat In A Box" spot).