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General Motors and Andretti Global today announced their intention to submit an official “Expression of Interest” in entering Formula One to the Federation Internationale de l’Automobile (FIA) as soon as the formal process is opened.

The American automaker would be represented in the sport by the Cadillac brand and would work together with Andretti Global, which it has a long history of collaborating with in motorsport series such as IndyCar. The partners say they want to get on the Formula One grid “as soon as practical” with at least one American driver behind the wheel.

“I feel very strongly that we are suited to be a new team for Formula One and can bring value to the series and our partners, and excitement for the fans,” said Michael Andretti, the chairman and CEO of Andretti Global. “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.”

Read: Ford Reportedly Interested In Sponsoring Red Bull F1 Team

The announcement follows a recent tweet from FIA president Mohammed Ben Sulayem’s saying that he had asked his team “to look at launching an Expression of Interest process for prospective new teams” for the F1 World Championship.

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The partnership comes as F1’s stature is on the rise. Following the success of the Netflix “Drive to Survive” documentary series, as well as its recent purchase by America’s Liberty Media, the racing series is more popular than ever. With three American races on the schedule for 2023, teams seem to be lining up to enter the sport.

Audi announced recently that it would enter F1 through its partnership with the Sauber F1 team, while Porsche expressed interest in partnering with Red Bull last year, though that deal fell through at the 11th hour, and may have spurred interest from Ford in a sponsorship deal.

Read: Porsche’s F1 Deal With Red Bull Is Officially Dead

Andretti Global, though, has long been interested in joining F1, but no newly created team has entered the sport since Haas did in 2016. With expansions to Andretti’s Indiana headquarters ongoing and a European satellite office proposed, according to Autosport, this appears to be the outfit’s most serious bid yet.

The potential new team would receive a power unit from another supplier, at first, but both Cadillac and Andretti Global say they will offer technical support to the prospective team. They are likely to enter F1 in 2026, when the sport’s engine regulations are overhauled, in an attempt to make the racing series greener.

“General Motors is honored to team with Andretti Global on this historic moment in racing,” said Mark Reuss, president of General Motors. “We have a long, rich history in motorsports and engineering innovation, and we are thrilled with the prospect of pairing with Andretti Global to form an American F1 team that will help spur even more global interest in the series and the sport.”