Electric Cars

As the World Rally Championship embarks on the latter half of its season, all eyes are on Rally Estonia, a high-stakes event contested on rapid gravel surfaces. This rally holds significant implications for the championship battle, with several top drivers aiming to assert their dominance or regain lost ground.

Hyundai, buoyed by its recent victory in Greece, is keen to demonstrate its improved performance on swift gravel terrain. The team's focused development on the i20 N Rally1 car for this type of surface will be put to the test. Ott Tänak, a strong contender, acknowledges the car's current limitations despite his prior success at this venue, expressing concerns about its optimal performance for cornering and his ability to push for a win. His teammate, Thierry Neuville, despite earlier setbacks, remains cautiously optimistic about their setup, emphasizing the need for quick adjustments to maximize their potential, aiming for a podium finish rather than an outright victory due to the demanding nature of the rally.

Meanwhile, Kalle Rovanperä, a two-time world champion, enters his favorite event with renewed confidence, despite his earlier struggles with Hankook's gravel tires this year. His commanding performance in Thursday's shakedown, where he topped the timings, suggests a positive shift. Rovanperä believes that the Estonian stages inherently suit his driving style, allowing him to better compensate for any lingering tire issues. A strong result here could significantly bolster his championship aspirations before Rally Finland.

Championship leader Elfyn Evans, driving for Toyota, faces the customary challenge of opening the road, which can be a disadvantage on loose gravel. However, recent rainfall might mitigate this effect, providing a more consistent surface for all competitors. Despite the inherent difficulties of his road position, Evans has consistently delivered strong performances throughout the season, maintaining a healthy points average. He anticipates a fierce battle but remains hopeful for a podium finish, recognizing the formidable pace of his main rivals, Rovanperä and Tänak.

Adding intrigue to the event is Martins Sesks of M-Sport-Ford, who showcased exceptional speed on fast gravel last year. While the current season has presented its challenges, returning to the familiar high-speed stages of Estonia could allow him to tap into that raw pace once more. Another notable returnee is Oliver Solberg, making his Rally1 comeback with Toyota. His performance in the shakedown indicated promising speed, and while his primary goal is to simply complete the rally, a strong showing could redefine expectations for his season.

Further, the rally addresses critical fuel system issues that plagued competitors in the previous Acropolis Rally Greece. Following an investigation, the FIA has implemented preventative measures, allowing teams to modify their fuel tanks and utilize different materials. Hyundai's team principal, Cyril Abiteboul, confirmed their adoption of these changes, aiming for parity and preventing a recurrence of the mechanical failures experienced by some teams.

The Rally Estonia promises an exhilarating contest, with intricate technical challenges and fierce competition among the leading teams and drivers. The strategic decisions made regarding car setup, tire management, and driving approach will be paramount in determining who emerges victorious from these demanding gravel stages.

Behind the Curtains: Decoding Red Bull's Shifting Influence

The Enigma of the 2% Stake: Unpacking the Recent Corporate Maneuver

Following the departure of Christian Horner from his leadership role at the Red Bull Formula 1 team, widespread conjecture arose regarding the actual control within the parent company, Red Bull GmbH. A recently revealed transaction, involving the transfer of a mere 2% stake, has been at the heart of this discussion. Public records in Austria indicate that these shares moved from Chalerm Yoovidhya's direct ownership to a Swiss trust entity, Fides Trustees SA, chaired by Martin Christopher Bowen. This shift fueled theories of a significant rebalancing of power within the Red Bull empire, with some suggesting a move of influence from Thailand back to Austria, directly impacting Horner's position.

The True Nature of the 2% Transfer: Clarifying Ownership and Control

Further investigation, however, indicates that the transfer of the 2% stake to Fides Trustees SA might not signify a fundamental shift in control. The prevailing understanding now suggests that Fides is likely managing these shares on behalf of the Yoovidhya family, implying that the Thai contingent effectively retains a 51% controlling interest in Red Bull GmbH. While official confirmation remains elusive, this interpretation suggests that the transaction's primary purpose was not to redistribute power, but rather to establish a neutral mechanism for resolving potential deadlocks in strategic decisions, especially given the equal 49% holdings of the Yoovidhya family and Mark Mateschitz. The timing, just weeks before Horner's exit, certainly raises questions about a potential connection to the F1 team's internal issues.

Leadership Evolution Post-Mateschitz: A New Era of Shared Governance

The landscape at Red Bull has undeniably transformed since the passing of Dietrich Mateschitz in October 2022. In the vacuum left by his singular leadership, the Yoovidhya family initially sought a more direct involvement in operational aspects, even contemplating a relocation of the company's headquarters. This proposition faced considerable opposition from both management and staff in Austria. Nevertheless, under the collective leadership of three managing directors—Alexander Kirchmayr (Finance), Oliver Mintzlaff (Projects & Investments, including Formula 1), and Franz Watzlawick (Beverages)—Red Bull GmbH has demonstrated remarkable resilience and growth. Their performance, which saw the company's revenue exceed €10 billion for the first time in 2023 and rise to €11.2 billion in 2024 through the sale of 12.7 billion cans, underscores the effectiveness of this new distributed leadership model.

Strategic Consolidation: Recognizing the Value of Austrian Management

The impressive financial performance and operational stability achieved under the current management triumvirate have led to two crucial realizations for the Yoovidhya family. Firstly, the traditional operational structure, where the Austrian team handles day-to-day affairs while the Thai family reaps the benefits, has proven to be highly advantageous and comfortable. The Austrian leadership has clearly demonstrated its capability to excel even without Mateschitz's direct oversight. Secondly, any discussions about moving the company's headquarters to locations with potentially lower tax burdens are now off the table. This signifies a return to the established order: Fuschl continues to drive operations, albeit under a collaborative leadership, with Thailand maintaining its substantial share of the profits, reinforcing the notion of strategic stability rather than a contentious power struggle.

The Horner Conundrum: A Catalyst for Corporate Realignment

The controversy surrounding Christian Horner, marked by allegations and an internal investigation, brought to light significant internal divisions within the F1 team. While some reports suggested Fuschl desired his immediate removal, the Thai faction reportedly advocated for his retention. The placement of the 2% stake in a Swiss trust, ostensibly under Yoovidhya's directive, could serve as a mechanism for impartial resolution in such contentious situations where shareholder opinions diverge. Although the precise influence of Fides in the Horner decision remains ambiguous, the proximity of the share transfer to his eventual departure is noteworthy. Industry insiders, including former F1 driver Ralf Schumacher, suggest that the turbulent period following Mateschitz's death, exacerbated by internal power plays, ultimately compelled shareholders to prioritize stability and results. This suggests that the 2% transaction, rather than being a power grab, represents a pragmatic step towards a more unified and effective governance structure for Red Bull GmbH.