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Lewis Hamilton signs another three years with Mercedes

Dominant. That's really the only term we could use to describe the marriage of Lewis Hamilton and the Mercedes F1 team. And now they've signed a new contract. The subject of prolonged speculation, the reigning world champion and his team have announced a new three-year deal that will see Hamilton driving a Silver Arrow at least through the end of 2018. That's good news for Hamilton, who has only ever driven Mercedes-powered cars in Formula One, and for Mercedes, which has secured its star driver for years to come. Although details of the deal (as usual) were not disclosed, the BBC reports that it could be worth as much as $40 million each year. Hamilton's base salary is said to come in at $31 million per season, with extensive bonuses for winning races and championships – something at which Lewis and Benz have proven particularly adept. Racing fans will be well schooled in the trajectory of Hamilton's meteoric rise. He climbed the formula racing ladder with support from Mercedes and McLaren, winning the Formula 3 Euro Series and GP2 championships before hitting the F1 grid for McLaren in 2007 – and quite nearly locking the championship in his first season. He won his first F1 title in 2008, then struggled with the Woking team in subsequent seasons but kept winning races, switching to Mercedes in 2013 after Michael Schumacher re-retired. He won his second championship the following season on the back of 11 grand prix wins last year, and currently leads the standings ahead of his teammate Nico Rosberg. "Mercedes is my home and I couldn't be happier to be staying here another three years," said Hamilton. "The Mercedes car I am driving right now is the best I have ever had in my career."

Formula 1 seeking independent engine supplier

Formula 1 could get a new engine supplier in the near future, if Bernie Ecclestone and the independent teams gets their way. According to Autosport, the FIA is soon to open the contract up for bids, and there are already several manufacturers that have expressed interest. Currently Mercedes, Ferrari, Renault, and Honda supply engines – both to their own premier teams (Red Bull and McLaren for the latter two) but also to other teams like Williams, Sauber, and Toro Rosso. Because the new turbocharged V6 hybrid power units cost those four suppliers so much to develop, they're charging their customer teams big bucks – around $20-30 million per season – to provide the engines. These costs are much higher than the $10 million or so it used to cost to purchase a V8 engine under the previous regulations. Ecclestone figures it's time to bring in another supplier who will not run their own team and not play favorites, but will supply engines to private teams at a lower cost. There are already a number of potential suppliers under consideration. One of them is said to be Cosworth, which has a long history in the series stretching back to 1963. The British firm stepped back between 2007 and 2009, returned in 2010, and dropped out again after 2013. The development could be of particular benefit to Red Bull, which has been unable to find an engine supplier and could be forced out of the series as a result. The team has long been powered by Renault, but that relationship has grown sour. And the other three engine manufacturers have not been forthcoming in offering an alternative arrangement for the team. Related Video: News Source: AutosportImage Credit: Cosworth Motorsports Ferrari Honda Infiniti McLaren Mercedes-Benz Renault F1 engine contract

US buyers show little interest in big hybrids

The idea of producing large, luxury-vehicle hybrids is turning into a "what were they thinking?" exercise in futility, USA Today reports. General Motors is discontinuing hybrid versions of the Cadillac Escalade, Chevrolet Tahoe and GMC Yukon SUVs, while Mercedes-Benz and Toyota's Lexus division are doing the same with their S-Class hybrid and LS hybrid sedans, respectively. The culprit? Big price increases for fuel economy improvements that border on the unimpressive. Granted, the Escalade hybrid gets 31 percent better fuel economy than the standard version, but that still maps out to a combined fuel-efficiency rating of just 21 miles per gallon. That can be seen as a worthwhile increase, if it didn't cost over $8,000 extra. The 2014 Escalade Hybrid, for example, starts at $74,425 while the non-hybrid can be had for $66,295. Meanwhile, the Lexus full-size hybrid costs $6,000 more than the regular version but only gets 1-2 mpg better combined fuel economy. The result of all these high costs? Low sales. Through April, GM sold 82 of its hybrid SUVs and pickups, down from 541 a year earlier. And the LS hybrid sales were in single-digit territory for April. That isn't stopping Lexus from promoting its hybrids as the right solution (with the wrong facts), though. There are still automakers giving big hybrid vehicles a shot, though. Nissan's Infiniti division is selling a hybrid version of its QX60 and says an impressive 10 percent of QX60 buyers choose the hybrid, which costs just $3,000 more. Looks like money talks. Featured Gallery 2015 Cadillac Escalade: First Drive View 35 Photos News Source: USA TodayImage Credit: Copyright 2014 Brandon Turkus / AOL Green Infiniti Lexus Mercedes-Benz Hybrid lexus ls gmc yukon mercedes-benz s-class infiniti qx60 chevrolet tahoe