By BBC (Sports) | Created at 2024-11-25 19:00:15 | Updated at 2024-11-27 12:27:00
1 day ago
US car giant General Motors has reached an agreement in principle to enter Formula 1 in 2026 with its Cadillac brand.
A statement on Monday said that GM and its partner, the US group TWG Global, had committed to name a new team after GM's luxury Cadillac brand and to build its own engine "at a later time".
F1 said the application process would "move forward".
Greg Maffei, president and chief executive officer of F1 commercial rights holder Liberty Media, said: "With Formula 1's continued growth plans in the US, we have always believed that welcoming an impressive US brand like GM/Cadillac to the grid and GM as a future power unit supplier could bring additional value and interest to the sport.
"We credit the leadership of General Motors and their partners with significant progress in their readiness to enter Formula 1.
"We are excited to move forward with the application process for the GM/Cadillac team to enter the Championship in 2026."
Mohammed Ben Sulayem, the president of F1's governing body the FIA, said: "General Motors is a huge global brand and powerhouse in the OEM world and is working with impressive partners.
"I am fully supportive of the efforts made by the FIA, Formula 1, GM and the team to maintain dialogue and work towards this outcome of an agreement in principle to progress this application to bring a GM/Cadillac branded team onto the grid for the 2026 FIA Formula One World Championship.
"All parties, including the FIA, will continue to work together to ensure the process progresses smoothly."
More to follow.
