Andretti, GM team up for Cadillac F1 push

Andretti Global and General Motors have announced plans to enter Formula One with a new all-American team using the Cadillac brand and employing at least one US driver.

They said Andretti Cadillac, if accepted by Formula One and the FIA governing body, would be based in the US with a support facility in Britain.

Indiana-based Andretti Global is run by former McLaren F1 driver and 1991 CART champion Michael Andretti, son of 1978 Formula One world champion Mario.

"The Andretti Cadillac team is planning to submit an expression of interest when the FIA opens the formal process," the statement said.

"If selected, the team is seeking to compete as soon as practical with at least one American driver."

Andretti Autosport's IndyCar driver Colton Herta would be a front-runner for a seat.

FIA President Mohammed Ben Sulayem said the governing body was exploring the expressions of interest process and would provide an update soon.

He said the process would follow strict protocols and take several months.

Formula One insiders saw no chance of a new team before 2026, when a new power unit is due to be introduced and Audi are set to enter a factory team after taking over Swiss-based Sauber.

The last completely new team to enter Formula One was US-owned Haas in 2016.

"We've done a lot of hiring, we have quite a few people working for us, we have hired the main engineers so we are very much down the road," Michael Andretti told reporters on a video conference.

"We have our technical director already hired and we will announce that down the road.

"One of the things is to have an American manufacturer behind and an American team with an American driver. I think it is going to be the biggest story of the year."

Andretti, who already has interests in IndyCar, Formula E, Extreme E and sportscars, announced plans for an F1 entry last February but met a lukewarm response at the time from the FIA.

He has also met resistance from many of the existing 10 teams, as well as Formula One management, who have questioned the commercial benefit of a new entrant diluting the share of revenues.

Any new entrant must currently pay a $US200 million ($A296 million) fee to enter, with that money shared by the existing teams as compensation.

Andretti are not the only ones exploring potential involvement in the sport, with Honda also reportedly mulling a comeback and F1 saying there were "a number of conversations continuing that are not as visible as others."