The new team will compete as the eleventh entry on the grid under the Cadillac banner.
Since 2017, Formula 1 has maintained a cap of 10 teams, and until earlier this year, there were no plans to expand. In January, Liberty Media, the Colorado-based owner of the series, rejected a joint proposal from Andretti Global and General Motors, stating there would be no grid expansion before 2028.
This decision sparked criticism, including a bipartisan request from U.S. Congress asking why an American team was being excluded from the competition.
However, the landscape shifted significantly in September. Michael Andretti, who had previously called Formula 1 and its teams “greedy” for resisting his bid, stepped down as head of Andretti Global, as reported by the Associated Press.