Lamborghini Boss Stefano Domenicali to Become Formula 1 CEO
Welcome to The Grid, R&T's quick roundup of the auto industry and motorsports news you should know this morning.
Stefano Domenicali to Become Formula 1 CEO
After Bernie Ecclestone sold the commercial rights to Formula 1 to American company Liberty Media in 2017, the luxuriously mustachioed Chase Carey took over as CEO. But with a new concorde agreement in place, he'll soon step down, and Racer reports that current Lamborghini boss Stefano Domenicali will take over. Domenicali will be a familiar (clean-shaven) face for F1 fans, as he was team principal for Ferrari from 2008 to 2014. He took over from Jean Todt, who's now the FIA president, and will soon work alongside F1 sporting director Ross Brawn, who also worked for Ferrari. The Scuderia seems to be a good launching pad.
Tesla Value Drops Significantly After Battery Day
Yesterday, Tesla held its much-anticipated Battery Day where, among other things, Elon Musk announced that the company would be manufacturing its own cells. The hope is that these cells will help reduce cost per kilowatt hour by half. Tesla had a lot to announce, but hedged and said everything is still a few years away. Wall Street seemingly wasn't impressed, as Reuters reports that Tesla's value dropped by $50 billion after the event. Given Tesla's tendency to miss deadlines, investors and analysts are skeptical of the big promises made.
Porsche Pulls GTLM Entries for Mid-Ohio After Positive COVID Tests
After the 24 Hours of Le Mans, a handful of personnel on Porsche's GT works team tested positive for COVID-19. As a result, Autosport reports that Porsche will pull its two GTLM cars from the IMSA race at Mid-Ohio this weekend. Three of Porsche's IMSA drivers were at Le Mans, and because of the positive tests on the team, they won't be able to travel to the U.S. for the race. Also as a result of this, Manthey Racing pulled its entries from this weekend's Nurburgring 24 Hour race.
You Might Also Like
