General Motors announces F1 interest with Andretti
By Mat Coch
Friday 6th January, 2023 - 3:33am
General Motors and Andretti Global have announced their intention to team up in pursuit of an entry into Formula 1.
A joint statement from the two American operations confirmed their shared ambition to join the pinnacle of motorsport.
The Andretti Cadillac operation would be based out of the United States, where Andretti Autosport is building an expansive new facility, supported by a facility in the United Kingdom.
“General Motors is honoured to team with Andretti Global on this historic moment in racing,” said Mark Reuss, President of GM.
“We have a long, rich history in motorsports and engineering innovation, and we are thrilled with the prospect of pairing with Andretti Global to form an American F1 team that will help spur even more global interest in the series and the sport.
“Cadillac and F1 both have growing global appeal.
“Our brand has a motorsports pedigree that’s more than a century in the making, and we would be proud to have the opportunity to bring our distinct American innovation and design to F1.”
Michael Andretti, CEO of Andretti Global, added: “We are continuing to grow Andretti Global and its family of racing teams and always have our eyes on what’s next.
“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.
“GM and Andretti share a legacy born out of the love of racing. We now have the opportunity to combine our motorsport passions and dedication to innovation to build a true American F1 bid.
“Together, we will continue to follow procedures and steps put forth by the FIA during the evaluation process.
“In the meantime, we continue to optimistically prepare should we be fortunate enough to have Andretti Cadillac formally approved as a Formula One contender.”
Andretti has long been chasing a berth on the F1 grid and previously attempted to buy out Sauber – a deal that fell through with the Swiss squad instead now set to partner with Audi for its entry into the sport for 2026.
Interest in a new team from those within the sport has been reserved, to say the least.
The incumbent team bosses have expressed support in principle though have also raised concerns surrounding the credibility of any new entry and the financial implication that has.
Toto Wolff has suggested any new operation faces a $1 billion start-up cost.
There is also a $200 million sum payable by any new entry to compensate rivals for any reduction in prize money they may receive because of the competition’s expansion from 10 teams to 11 (or more).
While the Sauber deal fell through, Andretti has continued to work behind the scenes towards starting an all-new operation.
It’s understood the desire from within the paddock was that, for such a project to have a chance of success, it needed manufacturer backing.
Porsche was therefore noted as a likely candidate given the German brand’s known interest in F1.
The automaker was in discussions with Red Bull however those fell through in September.
General Motors is a new name to associate with F1, with financial limits now in place also making it attractive to manufacturers who – for the first time in the sport’s history – will have a known figure for its competition in the championship.
Interestingly, Andretti has a contract in place with Renault for the supply of power units.
GM and Renault have previously held mutual interests, and even held discussions as part of a three-way alliance with Nissan back in the mid-2000s.
Back then, GM opted not to enter the alliance while the other two marques did.
Together with their shared F1 ambitions, General Motors, and specifically Cadillac, has been competing in the IMSA Sportscar Championship in the United States while Andretti has interests in Formula E, IndyCar, and others.
Both are also active in Australia, with GM’s interest now under the Chevrolet banner with the Camaro for Gen 3 starting this year.
Ironically, Andretti sits on the other side of the red-blue divide, as revealed by Speedcafe.com, through its relationship with Walkinshaw Andretti United.