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Game on as Formula One fields teams for virtual eSports competition

HORLEY, England — Grand prix teams could be racing each other in the virtual world as well as the real one next season, and fighting to sign up the hottest gamer talent, as Formula One wakes to the power of eSports. Darren Cox, the man behind McLaren's "World's Fastest Gamer" competition who also saw one of his drivers win Formula One's first eSports series in Abu Dhabi last month, feels a tipping point has been reached this year. The former Nissan motorsport boss, who runs the eSPORTS+CARS virtual team, can also see the day dawning — in maybe three to five years' time — when top gamers are earning more than the lowest paid drivers on the real F1 starting grid. In a wide-ranging interview at a simulator center where his drivers train near London's Gatwick airport, Cox told Reuters that he expected Formula One teams to become involved in next year's eSports series. "If you look at what the NBA (basketball) has done ... they engaged the teams right at the beginning. So 17 of the NBA teams have got franchises for the virtual side of the sport, and there's a draft like in the real world. "So expect something like that to come out of (Formula One owners) Liberty," added Cox. "It's happening now. Those conversations are being had. "This absolutely will be a big priority for them (Liberty), and I believe they have made it clear to the teams that they will be involved, in some way. "And then I guess it's down to the teams about how involved they want to be." Kitchen porter turns champion Formula One's first eSports series was won by Brendon Leigh, an 18-year-old kitchen porter who had never previously been out of Britain. Leigh, who drives for Cox's team and emerged triumphant from 63,000 initial hopefuls, is likely to go professional. Some gamers in other arenas are already earning more than $1 million a year, and Cox said the rewards in motorsport were growing all the time. "If you go back 18 months, these guys were winning an X-box and a free subscription, not any cash. The cash has suddenly come, and I think that will ramp up," said the man who has been dubbed the "Godfather of virtual racing." Cox dismissed as irrelevant the debate about whether eSport is a sport. "It's here, it's got millions of viewers, it's got a commercial backbone that is strong. It doesn't matter if someone in sport thinks it's a sport or not. eSports don't care." He expected all the big F1 teams to end up partnering with outfits like his.

Kia EV6, Nissan Frontier, Range Rover and VW Taos | Autoblog Podcast #738

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined byYahoo Finance Senior Reporter Pras Subramanian. First, they discuss the cars they've been driving, including the Kia EV6, Nissan Frontier, Land Rover Range Rover and Volkswagen Taos. Then they discuss the state of certain brands like Bentley, Ferrari and Polestar. They also talk about the most recent quarterly sales updates, including what's going on with Tesla in China. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #738 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2022 Kia EV6 2022 Nissan Frontier 2022 Land Rover Range Rover 2022 Volkswagen Taos The state of Bentley, Ferrari and Polestar Q2 sales trends Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: 2022 Kia EV6 walkaround at the 2021 Chicago Auto Show

Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.