Latest news with #Sulayem
IOL News
18-05-2025
- Automotive
- IOL News
Carlos Sainz Senior weighing up presidential bid for FIA
Carlos Sainz Junior Carlos Sainz Junior. Photo: AFP Image: AFP Carlos Sainz Senior, the father of Williams F1 driver Carlos Sainz Junior, is thinking about becoming the next FIA President to take over from incumbent Mohammed Ben Sulayem. Sainz Junior is all for the idea of his father becoming the next president, citing his 40 years in rally and 10 years in F1 working alongside him. He also claims there will not be any conflict of interest should his father become president. Sulayem's presidency has been controversial at the least since taking over from Jean Todt in 2021, the year of the infamous Max Verstappen and Lewis Hamilton finale in Abu Dhabi. Since then, Sulayem's authority has been questioned and even publicly undermined by drivers at times. His tough stance on profanity has been seen as an unnecessary rule by purists. A few weeks ago, FIA Deputy President Robert Reid called it quits on the organisation, citing a downfall in governance and standards as the reason for his departure. There has also been pushback by the European contingent within the FIA, who are not in support of Sulayem's rule. But now a worthy European has emerged and is likely to throw his name in the hat come election day, Carlos Sainz Senior. Sainz Jr said running for president was not his father's idea, but something suggested to him by many in the paddock. 'A lot of people in the paddock were kind of putting it in his head, and little by little, he started considering it. Now he's obviously thinking about it. 'The key is that he still hasn't put together a team, but he's considering it, and depending how he sees it, he will go for it or not. I can just tell you that he's considering it seriously. 'Like he said, he's evaluating all options, now starting to think about what people, individuals, he would like to have in his team. 'He's trying to understand how the elections work, how many people he needs to go and talk to. He's evaluating the whole thing and trying to understand how everything works. It's his thing now,' Sainz Jr told an F1 publication. When asked about whether the Presidency could compromise either his or his father's image within the world of F1, Sainz Jr said: 'If anything, obviously he will be extremely careful. 'I will be extremely careful because the last thing that I want is my or his image or career to be damaged by that situation.'
Yahoo
17-04-2025
- Automotive
- Yahoo
F1 Pulls Plug On V10 Talk Distraction, Hybrids Will Continue If You Like It Or Not
The President of the FIA, Mohammed Ben Sulayem, threw a giant metaphorical Molotov cocktail into the F1 paddock and walked away while the teams were left to defend themselves from the flames. Back in February Sulayem pushed for the series to abandon its advanced hybrid turbocharged V6 engine regulations for the 2026 season in favor of a move back to V10s. With teams likely already having completed millions of dollars in development and testing of their new powertrains, suggesting an abrupt change in direction at the 11th hour does nothing but hurt the FIA's credibility as a sanctioning body. After a meeting of F1 engine suppliers (which would include Mercedes, Audi, Red Bull/Ford, Cadillac, Ferrari, and Honda) the V10 idea was resoundingly shot down. The plan to increase electric propulsion and reduce dependence on gasoline will move forward, as intended. Alpine team principal Oliver Oakes told that this is the "right choice" for the future of the sport. "I think for us as a team, obviously, we're just happy it's clarified and it's now business as usual for 2026," Oakes continued. "I think there's been a little bit of a distraction the past few weeks with things being said just to know where we stood and keep continuing what we're doing." He went on to call the move "definitely the right choice." Read more: These Are Your Worst Experiences With A Recall There was no way that manufacturers would ever sign on to completely scrapping their high-dollar hybrid plans in order to switch back to an engine formula the series abandoned twenty years ago. F1 is supposed to be the pinnacle of tech, and internal combustion engines are increasingly becoming yesterday's news. Why would any of these manufacturers want to build to a set of regulations completely incongruous with the future of their respective road cars? Not only did teams reject a move to non-hybrid V10s, the engine manufacturers decided that there would probably never be an F1 without hybrid involvement, confirming that hybrid power will "be part of any future considerations." Despite Sulayem's insistence that F1's green ambitions can be accomplished with so-called sustainable fuels, teams were adamant that this wasn't enough. For the manufacturers using F1 as a test bed for the future of electric propulsion tech, the hybrid drivetrain and energy recovery systems are incredibly important for race-to-road tech transfer. New for 2026, each manufacturer will be building new cars from the ground up with all-new engines. Not only will the cars be smaller and lighter, requiring tighter packaging, but the drivetrains will be upgraded, deriving a much higher percentage of their power from the electric motors. The current 1.6-liter turbocharged engines make about 750 horsepower with an additional 160-ish horses coming from the hybrid boost. For 2026 the gasoline engines will be de-tuned to around 540 horsepower with the hybrid electric motors being cranked up threefold to around 470 ponies. Altogether, that means Formula 1 cars will frequently be producing over 1,000 horsepower in race trim. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Khaleej Times
13-03-2025
- Business
- Khaleej Times
DP World reports record revenue of $20 billion for 2024
DP World on Thursday announced a record revenue of $20 billion for 2024, marking a 9.7 per cent increase from the previous year. The company's adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) also reached a record high of $5.5 billion, reflecting a 6.7 per cent growth and an adjusted Ebitda margin of 27.2 per cent. The 9.7 per cent revenue increase was driven primarily by improved performance in ports and terminals, alongside contributions from recent acquisitions and concessions, DP World said in a statement. Revenue per twenty-foot equivalent unit (TEU) rose by 13.9 per cent on a like-for-like basis, with significant growth reported in the Middle East and the Americas. DP World reported a profit of $1.5 billion for the year, a 2.0 per cent decline attributed to higher finance costs. Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said the record revenue and Ebitda for 2024 is a significant achievement in a complex geopolitical landscape. 'Our strategic focus on high-margin cargo and integrated supply chain solutions positions us for sustained growth and value creation,' he added. Sulayem emphasised the importance of enhancing efficiency and deepening partnerships to build a resilient business capable of seizing new opportunities as global trade evolves. He noted that the demand for integrated logistics solutions underscores the value DP World provides to its customers, helping them navigate complexities in supply chains. A DP World statement noted that the company's total capacity exceeded 100 million TEUs, supported by ongoing investments in key growth markets. In 2024, DP World allocated $2.2 billion in capital expenditure, an increase from $2.1 billion in 2023. The 2025 capital expenditure budget is projected at approximately $2.5 billion, focusing on facilities in the UAE, India, the UK, Senegal, and Saudi Arabia. DP World is enhancing its logistics portfolio to provide value-added services in fast-growing markets. The firm aims to leverage its infrastructure to deliver comprehensive supply chain solutions, capitalising on the rising demand for customised logistics services. Operating cash flow increased by 18.9 per cent to $5.5 billion. The company's net leverage ratio saw a decrease to 3.4x on a pre-IFRS16 basis, compared to 3.7x in FY2023, indicating improved financial health. DP World issued a $100 million blue bond, marking a significant step in its commitment to sustainability. The company also became the first logistics firm in the region to have its carbon reduction targets validated by the Science Based Targets initiative, surpassing its 10.5 per cent carbon emissions reduction goal and sourcing nearly 65 per cent of its electricity from renewable energy. Despite a strong performance in 2024, DP World faces uncertainties due to geopolitical risks and fluctuations in global trade. However, the company remains optimistic about its long-term growth prospects, supported by its integrated supply chain solutions and strategic investments.
