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31$80M Ferrari deal would make Vettel world's highest-paid sportsman

Formula One is in for a big shakeup next season, as the only two multiple World Champions on the grid are kicking off a game of musical chairs. Just who will end up where has yet to be figured out, but the overwhelmingly prevailing wisdom has Sebastian Vettel, who has already announced his departure from Red Bull, inking a contract with Ferrari worth 150 million pounds sterling for three years – that works out to over $80 million per year.

4Nico Rosberg signs new contract with Mercedes F1

When it comes to Formula One, you've got to admit that Mercedes has an eye for talent. When Honda pulled out of the sport, Mercedes swooped in and powered the Brawn GP team to the championship, then took it over and made two interesting hires to fill the race seats: an old talent in the form of Michael Schumacher, and a young one in Nico Rosberg. Schumi's return from retirement unfortunately didn't pan out, but it's kept Rosberg – who had already been on the grid for five seasons after win

3Canadian Grand Prix guaranteed for another ten years

Formula One racing comes and goes from the United States, meandering as it has between locations like Austin, Indianapolis, Phoenix and Watkins Glen. But the one stalwart of grand prix racing on this continent has been the Canadian Grand Prix. Held with only three exceptions (in 1975, 1987 and 2009) since 1961, North American racing fans can (almost) always count on the Canadian Grand Prix to provide them with their F1 action. And that's not about to change any time soon.

5BYD gets order for 3,000 all-electric taxis, buses from Hangzhou, China

Who needs Long Beach when you have Hangzhou? BYD could happily be asking itself that question after the China city agreed to purchase 2,000 battery-electric buses and 1,000 electric e6 taxis from the China-based vehicle maker. BYD calls the purchase "record-setting" and says it will deliver half of the order of both the buses and the taxis by the end of the year. Hangzhou is located about 110 miles southwest of Shanghai and is home to about 2.5 million people. It's the largest city in Zhejiang P

14BYD, Long Beach agree to cancel electric bus contract

Long Beach, California, has long been known as the Queen City because of the Queen Mary ocean liner that's docked there. A much less elegant situation is happening to Chinese vehicle maker BYD, which had a $12.1-million contract nullified over what BYD says is a technicality.

17BYD electric bus sale to California city gets a closer look from the feds

Like the stop-an-go nature of the municipal routes its electric buses will be serving, the progression of China-based BYD and its goal to get cities to adopt its vehicles has not been a smooth one. This time, the news is about the city of Long Beach, CA. And it's not all good.

AddBYD gets Europe's largest-ever e-bus contract, headed to Amsterdam airport

China-based automaker BYD won a contract from the city of Amsterdam for what the company says will be the largest-ever European fleet of battery-electric buses. BYD will produce 35 buses that will be used at the city's Schiphol Airport to shuttle passengers between terminals and aircraft on the tarmac. The buses, which will start going into service next July, will replace older buses and are expected to cut maintenance costs in addition to reducing greenhouse gas emissions and improving the airp

12UAW ratifies new four-year Chrysler labor contract

Chrysler and the United Auto Workers have officially agreed to a new four-year labor contract as the rank and file have voted in favor of the new agreement. A total of 54.8 percent of all Chrysler UAW workers gave the agreement a 'yes' vote.

49Details of Chrysler/UAW deal revealed

Details about the deal announced this morning between the Chrysler Group and United Auto Workers union have surfaced, and it's apparent that the smaller, less financially stable automaker has given away the least compared to similar deals already struck with the UAW by cross-town rivals General Motors and Ford.

85GM and UAW reach tentative labor agreement [UPDATED]

Contract negotiations between General Motors and the United Auto Workers have led to a tentative agreement on a new labor deal, pending ratification by membership.

10Ferrari renews Fernando Alonso's contract through 2016

Few things inspire as much rumor and conjecture as the hiring and firing of Formula 1 drivers. This one's going here, that one's staying there, one is hired and another is fired. But Fernando Alonso seems to have his seat secure for the foreseeable future.

16REPORT: BMW, Mini to let Mercedes-Benz inspect, prep its vehicles at port

The Mercedes-Benz Baltimore vehicle process center has secured a five-year contract to inspect, process, and repair pre-delivery BMW and Mini vehicles arriving in the United States. It's a deal that makes economic sense for both companies, say that automakers. BMW models currently arrive in Charleston, South Carolina, and are shipped to nearby Spartanburg (home of BMWs assembly plant) for inspection and pre-delivery work. That plant is "no longer appropriate" once the X3 starts production next y

59New contract between Ford and UAW voted down over weekend

What's good for the goose may be good for the gander, but what works for one country or automaker doesn't necessarily work for another. So while the Canadian Auto Workers union may have approved a new agreement with Ford, below the 49th parallel their compatriots apparently feel otherwise.

25REPORT: UAW agrees to ban strikes?(!)

According to a post on The Detroit Bureau, a key stipulation in the tentative contract reached between the United Auto Workers and Chrysler is that the union's right to strike will be all but eliminated for at least the next few years.

49Saab and Tata form joint venture to build... a fighter jet?!

The Swedish Airplane Company, or Saab AB, has been building aircraft since 1937. To diversify its business, the company started making cars in the late 1940s. Whether we cringe or not, Saab Automobile (the car division) has always reminded the public that its cars have fighter jet DNA (e.g., "Born from Jets"). Now comes word that the Swedish aeronautics manufacturer is partnering with India's Tata Group to build a variant of the Gripen fighter designed to go head-to-head with the some of the wor

21GM/UAW concession talks commence

To ensure long-term viability, General Motors has pledged an arm and a leg (and maybe an eye) to satisfy conditions imposed by the federal government after the automaker received billions in taxpayer-funded loans. In addition to reducing debt and condensing the number and type of vehicles it produces, GM has promised to revamp labor contracts -- not an easy task. With that in mind, GM is entering historic talks and negotiations this week with the United Auto Workers, bondholders, dealers and oth

14BREAKING: Alonso signs with Renault

UPDATE: Official press release from Renault confirming Alonso's return can be read

31Canadian union calls Chrysler's actions "stupid"

Buzz Hargrove isn't mincing words about his opinion of Chrysler LLC's strategy. Calling the decision to send the Magnum and Pacifica models out to pasture and cut shifts and jobs at the Brampton, Ontario plant "stupid," Hargrove has said the Canadian Auto Workers aren't interested in the type of concessions the UAW recently agreed to. While the UAW is allowing new hires to be given a lower pay level, as well as taking on a health care trust fund, the CAW will be having none of that, according to

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