Latest news with #MikeFries
News18
5 days ago
- Automotive
- News18
Formula E Secures FIA Backing Through 2048
Formula E, owned by Liberty Global, has extended its FIA sanctioning through 2048, aiming to rival Formula One. Formula E will continue to be the world's only all-electric single-seater racing series officially sanctioned by the FIA through at least 2048, following a landmark contract extension announced on Friday. The Liberty Global-owned series has signed a 10-year renewal with motorsport's global governing body, with sources indicating an additional five-year option is also on the table. The long-term agreement solidifies Formula E's position in the motorsport landscape and is seen as a major step toward expanding its global reach and investor appeal. The series is targeting continued innovation, with ambitions to match—or even surpass—top-tier competitions like Formula One in performance by mid-century. Formula E's latest model, the Gen3 Evo, is already making headlines. The car boasts a blistering 0-60 mph (0-96 kph) acceleration in just 1.82 seconds—roughly 30% faster than a current Formula One car—and reaches top speeds of 200 mph (321 kph). Liberty Global CEO Mike Fries welcomed the extension, underscoring the company's belief in Formula E's long-term potential. 'We've believed in Formula E since day one, and this extension reaffirms our confidence in where it's headed," Fries said. 'With the FIA's continued backing, we can now take the next big steps—scaling the sport, growing its global fanbase, and continuing to push the boundaries of what electric racing can achieve." Formula E chief executive Jeff Dodds highlighted the growth the championship has achieved since its debut season in 2014. 'With this long-term extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational," Dodds stated. The announcement comes as the series prepares to wrap up its 11th season with a double-header finale in London this weekend. Nissan's Oliver Rowland has already clinched the drivers' championship title heading into the final two races. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
TimesLIVE
5 days ago
- Automotive
- TimesLIVE
Formula E and FIA agree to contract extension to at least 2048
Formula E will remain until at least 2048 the only all-electric single-seater series sanctioned by motorsport's world governing body after announcing a contract extension with the FIA on Friday. The Liberty Global-controlled series said the 10-year extension, with sources indicating an option for a further five years, provided a solid platform for long-term growth and investment opportunities. Formula E expects its cars to be on the same level as, or exceeding the performance of, other top tier series including Formula One by the middle of the century. The current Gen3 Evo car can already accelerate from 0-100km/h in 1.82 seconds, 30% faster than a Formula One car with a top speed of 321km/h. 'We've believed in Formula E since day one, and this extension reaffirms our confidence in where it's headed,' said Liberty Global CEO Mike Fries. 'With the FIA's continued backing, we can now take the next big steps — scaling the sport, growing its global fan base, and continuing to push the boundaries of what electric racing can achieve.' Formula E CEO Jeff Dodds said the series had shown extraordinary growth in 11 seasons so far. 'With this long-term extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational,' he said. The current Formula E season closes in London with two races in London this weekend. The drivers' title has been won already by Nissan's Oliver Rowland.
CNA
5 days ago
- Automotive
- CNA
Formula E and FIA agree contract extension to at least 2048
Formula E will remain until at least 2048 the only all-electric single-seater series sanctioned by motorsport's world governing body after announcing a contract extension with the FIA on Friday. The Liberty Global-controlled series said the 10-year extension, with sources indicating an option for a further five years, provided a solid platform for long-term growth and investment opportunities. Formula E expects its cars to be on the same level as, or exceeding the performance of, other top tier series including Formula One by the middle of the century. The current Gen3 Evo car can already accelerate from 0-60 miles per hour (0-96kph) in 1.82 seconds, 30 per cent faster than a Formula One car with a top speed of 200mph (321kph). "We've believed in Formula E since day one, and this extension reaffirms our confidence in where it's headed," said Liberty Global CEO Mike Fries. "With the FIA's continued backing, we can now take the next big steps - scaling the sport, growing its global fanbase, and continuing to push the boundaries of what electric racing can achieve." Formula E chief executive Jeff Dodds said the series had shown extraordinary growth in 11 seasons so far. "With this longterm extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational," he said.
Reuters
5 days ago
- Automotive
- Reuters
Formula E and FIA agree contract extension to at least 2048
July 25 (Reuters) - Formula E will remain until at least 2048 the only all-electric single-seater series sanctioned by motorsport's world governing body after announcing a contract extension with the FIA on Friday. The Liberty Global-controlled series said the 10-year extension, with sources indicating an option for a further five years, provided a solid platform for long-term growth and investment opportunities. Formula E expects its cars to be on the same level as, or exceeding the performance of, other top tier series including Formula One by the middle of the century. The current Gen3 Evo car can already accelerate from 0-60 miles per hour (0-96kph) in 1.82 seconds, 30% faster than a Formula One car with a top speed of 200mph (321kph). "We've believed in Formula E since day one, and this extension reaffirms our confidence in where it's headed," said Liberty Global CEO Mike Fries. "With the FIA's continued backing, we can now take the next big steps -- scaling the sport, growing its global fanbase, and continuing to push the boundaries of what electric racing can achieve." Formula E chief executive Jeff Dodds said the series had shown extraordinary growth in 11 seasons so far. "With this longterm extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational," he said. The current Formula E season closes in London with two races in London this weekend. The drivers' title has been won already by Nissan's Oliver Rowland.
Yahoo
03-05-2025
- Business
- Yahoo
Why Liberty Global Ltd. (LBTYA) Went Down On Friday
We recently published a list of . In this article, we are going to take a look at where Liberty Global Ltd. (NASDAQ:LBTYA) stands against other Friday's worst performers. Wall Street's major indices ended the trading week on a strong note, clocking in robust gains as investors cheered better-than-expected non-farm payrolls last month while digesting more corporate earnings results. The tech-heavy Nasdaq led the rally among all major indices, finishing up 1.51 percent. The S&P 500 clocked in a 1.47-percent gain, while the Dow Jones grew by 1.39 percent. Despite the broader market optimism, 10 companies managed to register declines amid dismal earnings performance in the first quarter of the year. In this article, let us explore Friday's 10 worst performers and the reasons behind their decline. To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume. A close-up of a hand pressing a mobile device screen and switching among the company's services. Liberty Global Ltd. (NASDAQ:LBTYA) Liberty Global declined for a third day on Friday, losing 11.4 percent to finish at $9.64 apiece as investors soured on its dismal earnings performance in the past quarter. In a statement, Liberty Global Ltd. (NASDAQ:LBTYA) said it swung to a loss from continuing operations of $1.3 billion from a $634.5 million income in the same period last year. Revenues, however, rose by 7.3 percent to $1.17 billion from $1.09 billion in the same comparable period. 'Across the group, our clear focus on unlocking shareholder value remains, as we resumed buybacks during the quarter towards our 'up to 10% of shares' target for 2025,' Liberty Global Ltd. (NASDAQ:LBTYA) CEO Mike Fries said. 'Our guidance at the Liberty Global corporate level remains unchanged, as does the guidance for all of our Liberty Telecom operations with the exception of VodafoneZiggo, where we have revised guidance to align with management's new long-term growth strategy,' he added. Overall, LBTYA ranks 5th on our list of Friday's worst performers. While we acknowledge the potential of LBTYA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than LBTYA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
