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Friday, June 14, 2024

Andretti Teams with Cadillac on F1 Bid

  • Cadillac is joining Andretti's bid to enter Formula 1 in 2026.
  • The two are aiming to create an American-branded team.
Michael-Andretti
Matthew O’Haren-USA TODAY Sports

An iconic name in luxury cars has joined another in racing to make a bid for a Formula 1 team.

Cadillac is teaming up with Andretti Global to enter F1 in 2026. FIA plans to open a process by which teams can apply to join F1.

  • Andretti is aiming to join F1 as an 11th team and has received key financial backing from Guggenheim Partners.
  • The group, which has a presence in IndyCar, Formula E, Extreme E, and other series, is constructing a $200 million facility in Indiana for all of its racing operations and will need an additional $200 million to enter F1.
  • General Motors, the parent company of Cadillac, Chevrolet, and Buick, among others, has never had a presence in F1.

While Cadillac provides automotive expertise, it will not necessarily be the only manufacturer involved in the potential team.

Formula-1

FIA President Green-Lights New Formula 1 Teams

FIA’s president is ready to start vetting potential new entrants into F1.
January 3, 2023

“We have a signed agreement with a power unit supplier to begin with, and then as we move forward, we bring a lot of our expertise to create things for the future as well,” said GM president Mark Reuss.

American Dream

Andretti is seeking to capitalize on F1’s growing popularity in the U.S. The group plans to have at least one American driver, and IndyCar racer Colton Herta, under contract with Andretti through 2027, is in pole position to assume that role.

Haas has an American owner and has sought to lean into that identity through its title sponsorship deal with MoneyGram, which begins this year.

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