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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.

2018 Jaguar E-Pace Video Review | Jag's smallest SUV is a high-priced hit

The following is the transcript from our above 2018 Jaguar E-Pace video review. To read more about this compact luxury SUV, read our E-Pace first drive review. There's nothing like some Sunday morning driving. And today I am driving the 2018 Jaguar E-Pace, which is Jaguar's latest gasoline-fueled crossover offering, not to be confused with the I-Pace, which is their electric vehicle. This particular model is powered by a 246-horsepower turbocharged, 2.0-liter, four-cylinder engine that makes 269 pound-feet of torque. It's mated to a nine-speed ZF automatic transmission, and my biggest gripe about the engine is that it can be a bit laggy, especially driving around in the mountains, particularly in Comfort mode. I would also appreciate paddle shifters on all of the models, not just the R-Dynamic, the lack of which on a $54,000, so-called sporty crossover is pretty disappointing. My disappointment doesn't linger very long, however, as the nicely weighted steering in this cub makes driving on these mountain roads pretty enjoyable. All-wheel drive does come standard on all varieties, and each feature four drive modes: Comfort, Dynamic, Eco, and then Rain/Ice/Snow. Let's talk about looks. Jaguar chief designer Ian Callum knows how to design an SUV. The F-Pace is my favorite looking vehicle in the segment and the style translates nicely to the smaller E-Pace. While it's not as good looking as its big brother, in my opinion, it definitely takes the crown over the Range Rover Evoque and the Discovery Sport, both of which share its platform. In fact, the E-Pace would rather easily be the best-looking vehicle in its class, if not for the newly-released Volvo XC40. This Cesium Blue paint is one of my favorite colors on the market, well worth the $590 price tag, in my opinion. I'm not a huge fan of chrome in general, and while this car is no exception, you can opt for the Blackout Pack, which replaces all the chrome on the car with gloss black paint. My biggest gripes with the F-Pace? Interior, infotainment and price. Those issues remain in its smaller sibling. When it comes to interiors, the Germans and the Swedes do a much better job, and when it comes to price, there are much better interiors out there. Most of the materials inside that you touch do feel pretty nice, but there are still a few cheap-feeling plastics around the cabin. And until there's a significant update to the infotainment system, JLR is always going to be behind the competition.

Stunning Jaguar collection with O.G. E-Type is a museum exhibit all on its own

At what point does a personal automotive collection become a museum exhibit that's just not in a museum? Dr. Christian Jenny blurs the line between the two with his unreal lot of classic Jaguars that includes not only the first E-Type ever seen in public, but also the "Lost C-Type" and what is considered to be Jaguar's first sports car, the 1935 S.S. 90 Prototype. Switzerland-based collector Jenny is selling 12 cars individually through classic car broker Pendine Historic Cars Limited. The collection includes some of the most important Jaguars ever built, nearly all of which have open-air tops. It's so special, in fact, that Pendine has created an entirely separate tab on its website dedicated to the set. The 12-pack includes the 1935 S.S. 90 Prototype, a 1952 C-Type, the E-Type Series I fixed-head coupe (aka "The Geneva Launch Car"), a 1935 S.S. 90 "Captain Black," a 1937 S.S. 100 2.5 liter, a 1938 S.S. 100 3.5 liter, a 1949 alloy XK120 Roadster, a 1950 XK120 Roadster, a 1955 XK140 SE Roadster, a 1960 XK150 3.8 S Roadster, an E-Type Series I Roadster, and a 1972 E-Type Series III V12 Roadster. All of the cars have been beautifully photographed and recorded by Michel Zumbrunn, author of British Auto Legends: Classics of Style and Design. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Though every one of these cars holds heavy significance, the 90 Prototype, the C-Type, and the Geneva E-Type stand to be some of the most noteworthy in British history. The S.S. 90 Prototype is considered Jaguar's first sports car before the company was even called Jaguar. It has a sidevalve 2.6-liter straight-six engine that makes an estimated 90 bhp and has won numerous Pebble Beach Concours awards. For years, this C-Type was floating in the ether and earned the nickname "The Lost C-Type" when it was the only car of the 53 C-Types that was not located. It was raced for numerous years and has since been restored. Any E-Type is highly valuable, as it's largely considered one of the most beautiful cars ever built, but this specific car has extra history. The coupe shape was reportedly hand-built from an open-top model and became the first E-Type ever seen in public. The experimental prototype, chassis No. 885005, was on display at the 1961 Geneva show. Read more detailed accounts for each car and ogle the gorgeous photography, of which each car has plenty, at Pendine. As of now, only the 90 Prototype has an offer.