Cadillac will join Formula One as the circuit's 11th team in 2026.
Final approval was announced Friday by F1 and its governing body, FIA, while an agreement in principle had been reached last fall. The Cadillac team has the backing of TWG Motorsports and General Motors.
"As we said in November, the commitment by General Motors to bring a Cadillac team to Formula 1 was an important and positive demonstration of the evolution of our sport," Stefano Domenicali, president and CEO of Formula 1, said in a news release.
"I want to thank GM and TWG Motorsports for their constructive engagement over many months and look forward to welcoming the team on the grid from 2026 for what will be another exciting year for Formula 1."
The Athletic reported that 300 people have been at work on the F1 project in preparation for approval of a race team. Dan Towriss, CEO of TWG Motorsports, said that effort now will expand.
"For the past year, we have worked hand in hand with GM to lay a robust foundation for an extraordinary Formula 1 entry," he said.
"Now, with 2026 in our sights after today's final approval from the FIA and Formula One Management, we're accelerating our efforts -- expanding our facilities, refining cutting-edge technologies, and continuing to assemble top-tier talent."
Ferrari initially will supply the Cadillac project with power units and gearboxes before General Motors takes over providing the equipment.

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