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Ford cuts CEO's compensation 37%

Ford Motor Co. CEO Alan Mulally earned $13.57 million in total compensation in 2008, a 37 percent decline, as the automaker avoided seeking a federal bailout while posting a record loss. Mulally will take an additional 30 percent cut in salary this year and next as he battles a global financial crisis and the worst U.S.

Japan's Toyota Prius Cup showcases hybrid car

With steely stares and clenched hands, the drivers peer from their crash helmets as the race marshal slowly raises the green flag. Then the flag drops. And they're off!

Mercedes signs joint venture to build carbonfibre parts

Not to be outdone by BMW’s joint venture with the SGL Group to manufacturer commercially viable carbonfibre-reinforced plastic (CFRP) for the electric Megacity Vehicle, Mercedes has announced a joint venture with Japanese company Toray Industries to manufacturer and market its on CFRP automotive parts. The deal was signed in Germany today, with Toray taking a 50.1% stake, Daimler holding 44.9% and the remaining 5% being taken by other shareholders. The two companies started working together in March 2010, and while Toray has been working on the materials and moulding processes, Merc has designed the automotive parts and the technologies to join the parts together.