Latest news with #24HoursofLeMans
Time of India
9 hours ago
- Automotive
- Time of India
Ferrari unveils Hypersail, its first all-electric ocean racing yacht
Ferrari has unveiled its ambitious new Hypersail project, marking the luxury carmaker 's first foray into the world of offshore sailing. Described as an 'unprecedented sporting challenge', the initiative blends Ferrari's motorsport engineering prowess with cutting-edge nautical innovation. Led by renowned Italian sailor Giovanni Soldini, Hypersail is being developed as a high-performance research and development platform. The aim is to push technological boundaries in offshore sailing through a unique collaboration between Ferrari engineers and specialist naval architects. At the heart of the project is a revolutionary 100-foot monohull racing yacht , currently under construction in Italy and slated for launch in 2026. Designed by French naval architect Guillaume Verdier, the yacht is expected to be the first of its kind in the world to achieve complete energy self-sufficiency. It will harness solar, wind, and kinetic energy without any reliance on a combustion engine. The yacht will 'fly' across the water, stabilised on three points of contact: a rudder foil, alternating lateral foils, and a canting keel that also acts as a structural support for one of the foils—a novel innovation in yacht design. This configuration, according to Ferrari, will allow the vessel to reach high speeds while maintaining maximum control and efficiency. Ferrari Chairman John Elkann said the project reflects the brand's commitment to endurance and innovation. 'Hypersail is a new challenge that pushes us to go beyond our boundaries and expand our technological horizons,' he said. 'It aligns with Ferrari's tradition and draws inspiration from our Hypercar , winner of the 24 Hours of Le Mans.' Soldini, who has decades of ocean racing experience, said the partnership is producing groundbreaking results. 'This is a yacht that is revolutionary in many respects. From its flight dynamics to its energy systems, we are exploring uncharted territory,' he said. The project is also serving as a testbed for cross-industry technological exchange. Ferrari engineers are adapting tools and techniques from automotive development—including aerodynamic simulations and structural analysis—to maritime applications. The team has already filed nine patents, with more in development. Central to the Hypersail concept is energy autonomy. All onboard systems, including those that control the foils, rudder, and keel, as well as navigation instruments and computers, will be powered by renewable sources generated during sailing. Balancing performance with self-sufficiency in harsh marine environments has required a meticulous focus on energy efficiency across every system. Ferrari describes Hypersail as a model of open innovation, involving close collaboration with external experts, partners, and suppliers. The initiative not only reflects a new chapter for the iconic automotive brand but also hints at future applications of marine technology back into Ferrari's own vehicles. Sea trials for the yacht are scheduled to begin following its launch in 2026.
Time of India
10 hours ago
- Automotive
- Time of India
Stoffel Vandoorne revisits his horrific Jakarta crash; Antonio Felix Da Costa reacts: 'Scary stuff'
Image credit: Stoffel Vandoorne/Instagram Stoffel Vandoorne has opened up about his crash into the barrier at the Jakarta E-Prix. The Maserati MSG Racing driver had started from 14th on the grid and was showing promise before a heavy collision with the barrier forced him to retire from the race. The disappointing weekend in Jakarta came just weeks after his long-awaited win in Tokyo — his first victory of the season. Stoffel Vandoorne reveals reason behind his crash at Jakarta E-Prix Taking to Instagram, Vandoorne shared a video of the crash along with a few snapshots from Jakarta, including a selfie with a fan. Explaining what went wrong, he wrote, 'Not the best ending to my race in Jakarta. Lost regen and rear brakes with a few laps to go and ended up hitting the wall pretty hard. Looking forward to a little break now and reset for Berlin.' Despite the setback, fans flooded the comments with messages of support. TAG Heuer Porsche driver Antonio Felix Da Costa responded, 'Glad you're ok brother. Scary stuff.' Nissan's Oliver Rowland — the current Formula E championship leader — also liked the post. One fan wrote, 'Neveeerrrr give up Stoff! Good luck for next race and see you next time.' Another added, 'Keep pushing, Stoff! Onwards and upwards.' A third commented, 'Stay strong Stoff, better results are just around the corner.' Stoffel Vandoorne's long-awaited win in Tokyo Despite the Jakarta crash, Vandoorne's season saw a major highlight when he took victory in Round 8 at the Tokyo E-Prix — his first win in three years, the last coming in Monaco in 2022. He currently sits 13th in the 2025 Formula E Driver Standings with 50 points. Prior to Jakarta, Vandoorne also competed in the 24 Hours of Le Mans in France, although the race didn't yield the results his team had hoped for. Also Read: All about Stoffel Vandoorne - the Tokyo E-Prix Round 8 winner Formula E Season 11 nears its finale Teams now head to Berlin for a crucial double-header on July 12 and 13, marking Rounds 13 and 14 of the Formula E World Championship. The season finale — another double-header — will take place in London on July 26 and 27. Oliver Rowland currently leads the Driver Standings, followed by Pascal Wehrlein and Antonio Felix Da Costa. Game On Season 1 continues with Mirabai Chanu's inspiring story. Watch Episode 2 here.
Miami Herald
2 days ago
- Automotive
- Miami Herald
Ferrari Stock is as Pricey as Its Cars. Have Investors Lost Their Minds?
Close your eyes and pretend that I can give you any car you want. If I could just give you any car in the world, right now, what would you ask for? Was the first car to pop into your head something from Maranello? A Ferrari, perhaps? It probably was for many of you. After all, it's one of the most important and well-known luxury brands in the world. Sadly, while most of us can't afford to own a Ferrari, there is a piece of Ferrari that all of us can buy. And that's ownership in Ferrari itself. That's right, we can buy the stock! Ferrari has been a publicly traded company since late 2015. During that time, its shares have increased from a low of $29.27 to a recent high of more than $500. I'll admit to having watched the stock for years but have never pulled the trigger to buy it. I'd be driving a Ferrari if I had. The thing is, at $460, Ferrari stock trades like a luxury good, with a price-to-earnings multiple of more than 45! For the past 12 months, the company earned $8.81 a share. That means that when you buy a share of Ferrari today, you're paying more than 45 times one year's earnings for that share. To say it another way, if the company were to buy the shares back from you, it would take them 45 years to earn enough money to do so. You could buy other car companies for much less. Mercedes trades at just 5.5 times its prior 12-month earnings. GM trades at 7 times and Ford at just 8.35 times. Of course, those are relatively inexpensive compared with Tesla, whose shares trade for a whopping 174 times its trailing 12 months' earnings. Here's a table that I pulled from Schwab to showcase this difference: Compared with the other car companies, investors definitely see something in Ferrari. They love the stock! The Question of the Week, then, is why would investors want to buy Ferrari shares when it has such a high price-to-earnings ratio? Are Ferrari shares a luxury good? On June 15th, Ferrari won the most prestigious and challenging 24-hour endurance racing event: the 24 Hours of LeMans. That's a big deal for a couple of reasons. First, it's one of those great stories of triumph over adversity that we all love. Ferrari dominated sports car racing from its founding in 1947 through 1965. Led by Enzo Ferrari, the company won Le Mans six years in a row, from 1960 through 1965. Then Ford came on the scene. If you've seen Ford vs. Ferrari, you know that Ford won in 1966; in fact, Dearborn took home all the trophies through the 1960s. Then Porsche dominated. Since Ford knocked Ferrari off its endurance racing pedestal in 1966, the Maranello, Italy, company didn't win at Le Mans again until two years ago. And then it won again last year. And this year. They're back! Adding to the drama, one of the drivers, Robert Kubica, had been tapped to drive a Ferrari in F1 competition back in 2012, but suffered a devastating crash that derailed his career at the top level of motorsports. Kubica worked his way back, transitioning to endurance cars, which perform like F1 cars but are designed to race for up to 24 hours at a time. In 2024, Ferrari tapped Kubica to join its endurance racing team. His car failed to finish in that race but was victorious this past weekend. These two comeback stories not only showcase how hard it is to succeed in motorsports but also how sweet the victory is. So, is Ferrari's stock as sweet as Ferrari's motorsports victory at Le Mans this year? Here's the thing about Ferrari. It's not just a car company. It's a lifestyle brand. Sure, the core of its business is selling cars, but its cars are not transportation. So, Ferrari should not trade like a regular car company. You could say the same about Tesla, which trades on car sales but also on the reputation of CEO Elon Musk and assumptions about the electric-vehicle company's growth in AI and robotics. Surely, however, Ferrari should trade like a regular stock? The S&P 500 has a PE of approximately 28, which is relatively high historically. Even Alphabet has a PE below 20. And Warren Buffett's Berkshire Hathaway has a PE below 13! So why would Ferrari trade for such a high price relative to its earnings? Well, Ferrari has three qualities that separate it from the competition: a wide moat, strong margins, and leading growth. When Morningstar analysts evaluate a company, they look to see whether the company has a competitive advantage over its peers. They call this a moat, and companies like Ferrari are said to have wide moats because they have strong brand recognition, high pricing power, and strong customer loyalty. Racing is a part of that moat, and when Ferrari wins, its customer loyalty increases. In fact, racing is literally part of Ferrari's marketing plan. As the old saying goes, win on Sunday, sell on Monday. Ferrari, with its high pricing power and multiyear customer waiting lists, is able to charge premium prices for its products. The profit that the company makes on each car is higher than that of other car companies, including premium manufacturers like Porsche. Ferrari has shown consistently stable earnings growth of around 18% annually over the past five years, according to data shown on my Schwab research portal. Analysts expect that to continue for the next five years, too. Even Tesla isn't expected to grow that quickly. So here's the thing. Ferrari does deserve to trade with a much higher valuation than other car companies. Its wide moat means that other companies can't easily compete for Ferrari's customers, the company's customer loyalty means that Ferrari can charge a higher price for its cars and be more profitable, and those customers have money to spend and have enabled Ferrari to grow at a pace that's nearly as fast as its race cars. You can see this in the price/earnings growth multiple (aka PEG) in the table above. Ferrari trades with a PEG multiple of a little over 4. This multiple takes the PE and divides it by growth. By comparison, Tesla has a PEG of more than 7. Ferrari is a much better value than Tesla. I like this multiple because it tells a better story than just the PE. It allows growth companies to have a higher PE because they deserve it - well, they deserve it if they can continue to grow. Does this mean you should buy Ferrari shares? You'll have to do your own research. I said that the company deserves to trade at a higher valuation than other car companies, but it's still anything but cheap. This article was reprinted from a series on our sister publication, TheStreet, called Filthy Rich Animal. Filthy Rich Animal is a weekly newsletter that provides jargon-free insights to help new investors become... well, filthy rich animals! It's free to subscribe, and we hope you like it. If you'd like content sent directly to your email inbox, subscribe here. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Gulf Today
3 days ago
- Automotive
- Gulf Today
NASCAR teams fear 'catastrophic' impact of disclosing financial records during court fight
Attorneys for 12 of NASCAR's 15 race teams argued in federal court on Tuesday that disclosing their financial records to the stock car series would be "catastrophic' to competitive balance and warned that making such details public would put them all in danger. The hearing was over a discovery dispute between NASCAR and the teams that are not parties in the ongoing antitrust suit filed by 23XI Racing, which is owned by retired NBA Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins. 23XI and Front Row are the only two organizations out of the 15 that refused last September to sign take-it-or-leave offers on a new charter agreement. Charters are NASCAR's version of a franchise model, with each charter guaranteeing entry to the lucrative Cup Series races and a stable revenue stream. Of the 13 teams that signed, only Kaulig Racing has submitted the financial documents NASCAR subpoenaed as part of discovery. The other 12 organizations are fighting against releasing the information to NASCAR and even argued that NASCAR asking for them violates the charter agreement, which claims all disputes must go to arbitration. U.S. District Judge Kenneth Bell of the Western District of North Carolina promised a quick ruling but, just like last week, seemed exasperated at the lengths being taken in this brawl that for now is heading toward a December trial. "I am amazed at the effort going into burning this house down over everybody's heads,' Bell said at the end of the nearly two-hour hearing. "But I'm the fire marshal and I will be here in December if need be.' Attorneys for the teams say their financial records are private and there is no guarantee the information won't be leaked; in a hearing last week, information learned in discovery was disclosed in open court. Joey Logano drives through Turn 3 during a NASCAR Cup Series auto race at Pocono Raceway in Long Pond, Pennsylvania. File/AP "It would be absolutely devastating to these race teams if their competitors were able to find out sponsorships on the cars, driver salaries and all revenue streams,' attorney Adam Ross said. "It cannot make its way into the public realm.' Ross said NASCAR has asked for 11 years of records and communications - including what Hendrick Motorsports spent on both its Garage 56 project building a car to race at the 24 Hours of Le Mans and the cost of Kyle Larson running both the Indianapolis 500 and the Coca-Cola 600 the last two seasons. "NASCAR has gone a step too far,' Ross said. NASCAR argued it needs the financials to understand profit margins and whether teams are actually unable to make ends meet under the charter agreement. NASCAR vowed to redact details to conceal team identities, a suggestion that was met with skepticism from team attorneys who contended it would be easy to connect the dots and, for example, figure out which contracts belong to, say, Team Penske. Attorneys also argued that money is not often distributed equally across the board with each team. For example, Team Penske might use an engineer for a NASCAR team, an IndyCar team and a sports car team. Bell asked NASCAR why it would not be satisfied with just "topline' numbers. Denny Hamlin makes a pit stop during a NASCAR Cup Series auto race at Pocono Raceway. AP "Why is not enough to know it costs X to run a car?' Bell asked. Attorneys for the 12 teams also noted that their clients are extremely uncomfortable to be dragged into the suit. "This is the opposite of what they want - all the teams are torn to pieces that NASCAR wants them to disclose this information and they don't want to upset NASCAR,' Ross said. Teams have long argued that NASCAR is not financially viable and they needed multiple concessions, including a greater revenue stream and a more permanent length on the charter agreements. Those presently have expiration dates and can be revoked by NASCAR. Two years of negotiations ended last fall with 13 teams signing on but 23IX and FRM instead heading to court. The hearing came one day after Bell declined to dismiss the teams' request to toss out NASCAR's countersuit, which accuses Jordan business manager Curtis Polk of using "cartel'-type tactics in the most recent round of charter negotiations. Associated Press
Qatar Tribune
3 days ago
- Automotive
- Qatar Tribune
Porsche Centre Doha live-streams Le Mans 24-Hour race at its showroom
Tribune News Network Doha Porsche Centre Doha offered an electrifying atmosphere for guests to witness the historic twice-round-the-clock endurance race, as Porsche Penske Motorsport battled to the final lap with its 963 hybrid prototype, while Team Manthey celebrated its second consecutive LMGT3 victory with the 911 GT3 R. Porsche Centre Doha invited customers and Porsche enthusiasts to experience the 93rd running of the 24 Hours of Le Mans live from its showroom at Medina Centrale, The Pearl. The 24 Hours of Le Mans stands as one of the greatest challenges in global motorsport and Porsche is the most successful manufacturer with 19 overall victories and 112 class wins at one of the biggest sporting events globally which attracts more than 325,000 fans each year. This year, the Porsche Penske Motorsport factory team entered three Porsche 963 hybrid prototypes in the outright LMDh category and for the first time, all three Porsche 963s were prepared at Porsche's facility in Mannheim Formula E World Champion Pascal Wehrlein joined the teams regular drivers from the FIA World Endurance Championship and the North American IMSA WeatherTech SportsCar Championship, while customer team Proton Competition added its own Porsche 963 to the Hypercar grid and Manthey entered three 911 GT3 R cars in the LMGT3 category to successfully defend their Class title. Reinforcing Porsche Centre Doha as the hub for premium brand experiences and community engagement, the live broadcast catered to both race fans as well as those new to the sport, seeing the spectacle for the first time in an engaging showroom environment. 'At Porsche Centre Doha, we don't just sell cars, we create memories. Bringing the Le Mans thrill to our showroom is our way of connecting with fans, families and future Porsche drivers in an unforgettable setting,' Asia Al Shishany, Marketing Manager at Porsche Centre Doha said. Dedicated edutainment zones for children not only contributed to the family-friendly environment but also provided the perfect introduction to the next generation of Porsche owners. 'The 24 Hours of Le Mans is more than a race, it's a statement of Porsche's endurance, performance and passion. Through this event, we invited our guests to step into the world of motorsport, heritage, Exclusive Manufaktur and Porsche craftsmanship,' Ahed Dawood, Brand Manager at Porsche Centre Doha said. A full-day customer and fan engagement event included parallel interactive brand experiences as well as character appearances by Porsche mascots Tom and Tina who welcomed junior guests alongside the action beaming live from France on the giant screens. In a highly exciting battle for overall victory, the number 6 Porsche 963 from Porsche Penske Motorsport of Matt Campbell, Kévin Estre and Laurens Vanthoor finished just 14.084 seconds behind the victorious Ferrari in second place. After 387 laps, the other two identical 511 kW (695 PS) hybrid prototypes of the factory team finished seventh and ninth and in the LMGT3 category, Team Manthey celebrated its second class victory in a row with their Porsche 911 GT3 R. Since the current LMDh regulations for the outright contenders were introduced, the Porsche 963 has proven to be the most successful race car in both the FIA World Endurance Championship and the North America IMSA series. The 963 builds on the legacy of legendary Porsche Le Mans machines such as the iconic 917, the 936, 956, 962, 911 GT1 and 919 Hybrid models.
