Volkswacht Bodensee - Andretti teams with Cadillac in F1 bid

"We are continuing to grow Andretti Global and its family of racing teams and always have our eyes on what's next," team chief Michael Andretti said in a statement.

"I feel that we are well suited to be a new team for Formula One and can bring value to the series and our partners, and excitement for the fans.

"I'm proud to have GM and Cadillac alongside us as we pursue this goal," Andretti added of what he called "a true American F1 bid."

Andretti is a well-known name in Formula One. Mario Andretti, Michael's father, won the F1 World Championship in 1978 and Michael competed in 13 Formula One races in 1993.

Andretti Global is the parent company to Andretti Autosport and other Andretti ventures, with teams currently competing in seven series worldwide.

They are most prominent in the IndyCar Series, in which the team fields four cars.

Since Michael Andretti's involvement, the team has won the Indianapolis 500 five times (2005, 2007, 2014, 2016, 2017) and the IndyCar Series championship four times (2004, 2005, 2007, 2012).

However, the team has struggled recently in IndyCar. Alexander Rossi and Colton Herta each won just one race in 2022 and Rossi was the highest Andretti driver in the standings in eighth.

If Andretti/Cadillac gains an F1 place, the Grand Prix series could have three new manufacturers in the coming seasons. Audi and Porsche are scheduled to enter the series in 2026.

There are currently 10 teams in the FIA's premier series, which is seeking to build on its increased popularity in the United States.

The series added a second race in the United States in 2022 in Miami, which joined the race in Austin, Texas. Three US races are scheduled in 2023 with the Las Vegas Grand Prix joining the programme.

C.Kovalenko--BTB