The Andretti Global team have announced plans to enter Formula One, joining forces with General Motors and the Cadillac brand.

Andretti is a name steeped in F1 history, with Mario Andretti winning the 1978 world title and his son, Michael, also a former driver on the grid.

Thursday's announcement by the American set-up follows FIA chairman Mohammed Ben Sulayem stating this week he intends to launch a formal process for expressions of interest for prospective new F1 teams.

That has opened the door for Andretti's plans, with Andretti Global chairman Michael Andretti saying in a joint statement: "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."

However, any new additions to the grid require the approval of F1, and it has been reported there is no prospect of a new team joining before 2026.

Andretti failed with a previous attempt to enter F1, with a 2021 bid to buy Sauber, but there remains an eagerness to join the grid for the next era of the sport – which is set to undergo significant changes in 2026.

Formula One is introducing a new engine formula that year, significantly increasing the power produced by the electrical part of hybrid engines and using synthetic, fully sustainable fuels – and there is already one new team set to join in 2026, following Audi's purchase of the Alfa Romero/Sauber team.

With Audi taking over an existing team, their transition onto the grid is far less complicated than the scenario for Andretti, who would require an expansion and would have to front a reported $200m fee that would be split among existing teams to offset any loss of prize money due to another team joining the revenue share.

F1 has had 10 teams on the grid since the 2015 season and issued a statement in response to Andretti's interest, which read: "There is great interest in the F1 project at this time, with a number of conversations continuing that are not as visible as others.

"We all want to ensure the championship remains credible and stable and any new entrant request will be assessed on criteria to meet those objectives by all the relevant stakeholders."