Andretti Autosports has formally announced plans to enter Formula 1 (F1) after striking a partnership with General Motors to run the team under the Cadillac brand. 

The news comes just days after FIA indicated that the time was nigh for Formula 1 to expand and include more than 10 teams.

Michael Andretti has been targeting a spot on the F1 grid but his plans failed to get any traction as a standalone project. But with one of America’s biggest manufacturers backing him, the 60-year-old’s dream has gotten one step closer.

After months of discussions, several parts of their planned F1 project have already been fleshed out. The new facility Andretti is building in Indiana will be the team’s main headquarters, with aerodynamic and engine development support from GM’s facilities in the US. It will also launch a satellite European base as well.

A Renault engine deal was already in the pipeline but the Japanese manufacturer Honda also remains in play.

The team has also begun the process of hiring the necessary staff with a Technical Director already in place and Colton Herta, who was in the running to be AlphaTauri’s second driver before Nyck de Vries, set to be one of its drivers.

Meanwhile, for F1, the Andretti deal makes economical sense.

With Miami, Las Vegas and Texas set to hold three races in America, it is commercially important for F1 to have an all-American team with an all-American driver lineup.

“I feel that we are well suited to be a new team for Formula 1 and can bring value to the series and our partners, and excitement for the fans,” said Andretti.

“I’m proud to have GM and Cadillac alongside us as we pursue this goal”.

The 2023 F1 season begins in February with the Bahrain GP.