Andretti Global and General Motors have announced plans to join a new F1 team in the coming years like Cadillac.
Andretti revealed in February last year that he planned to launch an F1 operation in the future and spent much of the 2022 season discussing the possibility of expanding the field with the existing 10 teams.
Earlier this week, FIA President Mohamed bin Sulayem took to Twitter to ask his team to consider initiating an EOI (expression of interest) process from potential new F1 teams as a first step towards grid expansion.
In an announcement made on Thursday, Andretti and General Motors revealed plans to enter F1 with an “all-American team” like Cadillac Racing in response to the FIA’s call for expressions of interest.
Andretti Global president and chief executive officer Michael Andretti reiterated the American team’s desire to add value to Formula 1.
“It is well documented that Andretti Global wishes to participate in the F1 World Championship,” commented Michael Andretti.
“So, at this point, I would like to thank the FIA and President Mohamed for their recent interest in investigating the expression of interest process. Mohamed is a true driver and a true passion for the sport.”
“I appreciate your transparency and willingness to be open to this process. I am very pleased to announce today that Andretti Global is partnering with General Motors to pursue an expression of interest. I am delighted.”
“I’m really proud to be part of this American company that is pursuing opportunities to join Formula 1. GM and Andretti both have strong racing histories and together we have a lot to offer. I think.”
“I would like to thank[il presidente di GM]Mark Reuss and the entire GM team for giving me this opportunity which I think is a great combination.”
Michael Andretti did not say when the new F1 team will be ready to hit the grid, saying it “depends on the expression of interest, the time needed and the current situation”.
“But when everything makes sense to be on track, we’ll be on track,” he added.
The prospective F1 team will receive powertrains from another engine maker, but both Andretti and Cadillac will provide technical support.
The team will primarily operate out of the new Andretti Global headquarters under construction in Fishers, Indiana, scheduled to open in 2025. Satellite facilities will also operate outside of Europe for the teams.
There have been no new teams in F1 since Haas F1 Team entered the grid in 2016, but it is clear there is interest from many parties to join the field in the future.
The process for Andretti and Cadillac to join the F1 grid requires the support of F1 itself and current teams, which publicly support Andretti’s plans amid concerns of potential financial implications, are just two such teams.
New teams entering the F1 field will have to pay a $200m fee as dilution funds are split amongst the current grid to compensate for the team’s split of payments with another entrant.
Ever since the first discussion of plans to join the F1 grid, Andretti has said he wanted to put an American driver, namely Colton Herta, who races for IndyCar’s Andretti Autosport, in one of the seats.
Asked if there were still plans to give Colton Herta one of the F1 seats, Andretti said: “We definitely have plans to hire an American driver. You know who’s ahead. I think,” he said.
“Colton is currently signed to IndyCar and we want to make this an all-American effort to make sure we have an American driver behind the wheel.”
