Connect with us
Lewis Hamilton Lewis Hamilton

News

Lewis Hamilton among F1 drivers dumping cash into electric motorsports

Credit: Extreme E

Published

on

F1 drivers, such as Lewis Hamilton and Sergio Perez, are dumping millions into electric motorsports, and viewership numbers show fans are enjoying it.

Formula 1 has long been the world’s largest and most successful motorsports series. No other series has garnered international attention and world-renowned names like the historic open-wheel racing series. But now, drivers from the sport, both past and present, are looking to invest in a new kind of racing; electric motorsports.

The world of electric racing has been growing for many years. Since the introduction of Formula E and its subsequent viewership success, new electric variants of other racing series have also sprung up. The same investors in Formula E have also created an electric motorsport series for rally enthusiasts; Extreme E, and next year, the group will be starting the world’s first all-electric boat racing series; E1. Even the historic World Rallycross Championship has recently switched to all-electric drivetrains.

Extreme E has attracted the most number of F1 investors. Lewis Hamilton, one of the most successful F1 drivers of all time who currently drives for Mercedes-AMG Petronas, has started the X44 Extreme E team. Recently retired F1 driver Nico Rosberg has also created a team, Rosberg X Racing. While the most recent investor in Extreme E is retired Formula 1 driver Jenson Button, starting the JBXE team, which he also drives for.

Older F1 drivers have found a home at Formula E instead. Mario Andretti’s Andretti Autosport continues to run its own Formula E team. Similarly, historic Formula 1 drivers Aguri Suzuki and Jarno Trulli previously ran teams under their names as well, but have since pulled out of the racing series.

Advertisement

On the water side of motorsports, current Redbull Racing F1 driver Sergio “Checo” Perez has started his E1 team that will participate in the inaugural year of the boat racing series.

Along with these drivers, fans have also been moving to watch these new forms of motorsports. Formula E recently reported its best viewership numbers ever. And with the introduction of significantly faster/more powerful next-generation cars and a series of notable rule changes, they are poised to beat that record again.

Recent interviews with Nico Rosberg and Lewis Hamilton indicate why these drivers are so interested in starting teams in the electric motorsports series. The lessened environmental impact of the races is cited by both drivers as a motivator to get involved in Extreme E. Yet beyond the ecological impact; these new series are working on hosting and displaying motorsports more sustainably and perhaps in a way that can allow more people to enjoy motorsports in the future.

It is clear that motorsports will have to change in the near future, perhaps most notably as carmakers move away from investing in ICE vehicle technology, but how that future looks is still very much in the air. Luckily, with so many of the world’s favorite racing drivers behind the wheel, the quality of racing certainly isn’t in jeopardy.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Advertisement

Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

Advertisement
Comments

News

Tesla talks Semi ramp, Optimus, Robotaxi rollout, FSD with Wall Street firm

Published

on

Credit: Tesla

Tesla (NASDAQ: TSLA) recently talked about a variety of topics with Wall Street firm Piper Sandler, as the firm released a new note on Friday about their meeting with the company’s Investor Relations team.

According to the note from Piper Sandler, Tesla talked in detail about the Semi program, Optimus, and its potential valuation given its capabilities, the rollout of Robotaxi in Austin, and Full Self-Driving progress in the United States.

Tesla Semi Ramp

The Tesla Semi is set to enter mass production in 2026 at a dedicated factory near the company’s Gigafactory in Reno, Nevada.

The Semi has already been in pilot program testing, as Tesla has partnered with a few companies, like Frito-Lay and PepsiCo., to perform regional logistics. It has been met with excellent reviews from drivers, and it has helped give Tesla a good idea of what to expect when it makes its way to more companies in the coming years.

Piper Sandler said that it is evident Tesla is preparing for a “major ramp,” but it is keeping its expectations low:

Advertisement

“We’ve never expected much from this product, but we’d love to be proven wrong (Tesla is clearly prepping for a major ramp).”

Tesla Optimus and its value internally and externally

Optimus has been working in Tesla factories for some time, but its expectations as a product offering outside of the company internally have major implications.

Its role within Tesla factories, for now, is relatively low, but Optimus is still doing things to assist. By this time next year, Piper Sandler said Optimus should have bigger responsibilities:

“By this time in 2026, Optimus should be moving/staging parts within Tesla’s facilities.”

Outside of Tesla, Optimus could be a major beneficiary for companies as it could be a more affordable way to handle tedious tasks and manual labor. The firm believes that if Optimus can work 18-hour shifts, a cost of $100,000 per unit “would be justified.”

Advertisement

Tesla Robotaxi Expansion

The big focus of the firm with Robotaxi was Tesla’s expansion of the geofence in Austin this week. It was substantial, bringing the Robotaxi’s total service area to around 170 square miles, up from the roughly 90 square miles that rival Waymo is offering in the city.

Tesla Robotaxi geofence expansion enters Plaid Mode and includes a surprise

Tesla has doubled its geofence three times since its launch in late June, and it also revealed that its fleet of vehicles has expanded by 50 percent. It did not give a solid number of how many vehicles are operating in the fleet.

Tesla Full Self-Driving v14 launch

Tesla’s Full Self-Driving suite is set to have a fresh version, v14, rolled out in either September or October, and there are some pretty high expectations for it.

CEO Elon Musk said:

Advertisement

“The FSD release in about 6 weeks will be a dramatic gain with a 10X higher parameter count and many other improvements. It’s going through training & testing now. Once we confirm real-world safety of FSD 14, which we think will be amazing, the car will nag you much less.”

There is also some expectation that v14 could be the public release of what Tesla is running in Austin for Robotaxi. The firm confirmed this in their note by stating it “should enable Tesla owners to use software that is on par with Robotaxis in Austin.”

The only real hold up would be regulator skepticism, but Tesla can alleviate this with strong data.

The firm maintained its ‘Overweight’ rating and the $400 price target it holds on the stock.

Advertisement
Continue Reading

News

Tesla starts Full Self-Driving rollout to owners in Australia

“To have this car drive me around Brisbane for an hour, we’re talking in the city, motorway, spaghetti bowl of on-ramps, it handled it so well. It was mind-blowing.”

Published

on

Credit: Tesla

Tesla has already started rolling out its Full Self-Driving suite to owners in Australia after officially launching the driver assistance suite in the country yesterday.

Earlier this week, Tesla seemed to be moving toward the launch of Full Self-Driving (Supervised) in Australia after numerous media members received early access to test its performance.

Tesla officially launched Full Self-Driving (Supervised) in Australia yesterday. The company told media members who got early access to the suite that the rollout would begin with Hardware 4-equipped Model 3 and Model Y vehicles.

Tesla launches Full Self-Driving in a new region

The release would be slow and gradual, with the process performed in stages.

Advertisement

The first stage of the rollout has already begun in Australia:

Tesla is reminding drivers in Australia who are using the suite for the first time that they must not become complacent while FSD is in operation. It is not fully autonomous and still requires the driver to remain attentive to road conditions and the vehicle’s surroundings.

Advertisement

Currently, the suite is only available to purchase outright, and it comes at a cost of $10,100. A subscription model is in the works, similar to the one in the United States, but Tesla has not yet announced its plans or pricing model for this.

Australia is the sixth country to receive Full Self-Driving (Supervised), or at least some version of it, as the United States, Canada, Mexico, China, and Puerto Rico all have access to the suite currently. In China, it is slightly different and is referred to as “City Autopilot” due to regulatory boundaries.

Early reviews of the suite have been very strong, as local media have also had the opportunity to try it, with one journalist saying, To have this car drive me around Brisbane for an hour, we’re talking in the city, motorway, spaghetti bowl of on-ramps, it handled it so well. It was mind-blowing.”

Continue Reading

News

Tesla expands crazy new lease deal for insane savings on used inventory

Tesla was able to work through the hurdles in three states, expanding the deal to New York, New Jersey, and Florida.

Published

on

Credit: Tesla

Tesla has expanded its new lease deal, offering people insane savings on used inventory.

Last week, we reported on Tesla offering crazy good lease deals on some of its used inventory, as people were able to grab monthly payments for as little as $225 per month with no money down.

There was only one catch: the deal was only available in California and Texas.

Tesla offers new deal on used inventory that you won’t want to pass up

However, Tesla has been working hard to get the lease deal expanded, and it finally has. Last night, Tesla’s VP of Finance, Sendil Palani, confirmed the deal had made it to three additional states.

Advertisement

Palani explained that the deal was only available in California and Texas because the leasing process requires working through regulatory hurdles in each state. He said it “involves a nontrivial amount of work,” which makes things more difficult to iron out.

Tesla was able to work through the hurdles in three states, expanding the deal to New York, New Jersey, and Florida. It is currently active in those states, Palani said:

Advertisement

Tesla is really making a concerted effort to push its inventory out the door, and many areas already are running low on both new and pre-owned inventory. It has cut prices on some new inventory, while offering these new lease deals on used vehicles that remain.

It is beneficial to the consumer for obvious reasons: cheaper payments and the ability to get a great deal on a car for no money down. Tesla is also getting rid of vehicles that were once thought to be intended for the Robotaxi fleet, but it appears these older hardware vehicles are no longer in the company’s plans for that purpose.

This is the first time Tesla has offered lease deals on used inventory, as it has only offered an outright purchase option in the past. In an effort to boost deliveries and rid itself of older cars, these lease deals are truly beneficial for both parties. It is only a wonder how long they will last.

Continue Reading

Trending