MIAMI GARDENS, Fla. (AP) — The new Cadillac F1 team officially announced its arrival at a glitzy South Beach extravaganza packed with industry executives and influencers and highlighted by a musical showcase from Janelle Monáe and actor Terry Crews Jr., who shared an anecdote about how he’d never been born had his father not relocated at age 20 to Flint, Michigan, in search of a job with General Motors.
A splashy video ultimately unveiled the Cadillac F1 team logo at a multimillion-dollar party jammed elbow-to-elbow in the Queen Miami Beach venue.
What wasn’t revealed? Cadillac’s car, a bit of a disappointment for those who expected to see all the bells and whistles at the brand launch introduction to F1’s newest team.
No worries, promised the leaders of the new team: Cadillac F1 is on pace to be on the grid in 2026.
“We're building cars, we've been in the wind tunnel for a long time,” said Dan Towriss, CEO of TWG Motorsports, the team owner. “Chassis has arrived, we're continuing to add (personnel) to the team, there are so many work streams that are happening all at once. But I want to make sure everybody understands just how deep the partnership is with General Motors and with Cadillac. I think that's something that really will set apart this team, this entry, on the grid.”
Cadillac will debut in 2026 with a two-car lineup that will push the F1 field to 22 cars — the first time since 2016 the grid will have more than 20 cars.
It was a long road for Cadillac F1 to get to this point. The project started with Michael Andretti, who failed to buy Sauber in his effort to create a true American team that would feature at least one American driver. When he didn't close the Sauber deal, Andretti petitioned F1 and governing body FIA to expand the field for Andretti Global, which led to the equivalent of an IRS audit during a grueling application process.
F1 denied the application.
Towriss and Cadillac pressed on — they spent the last year saying work on the project “continues on pace” — and when Towriss bought out Andretti late last year, F1 changed course and the new team was suddenly fast-tracked.
General Motors President Mark Reuss was finally able to attend an F1 race — the Miami Grand Prix over the weekend — in an official capacity. So geeked to finally be in the club, Reuss pulled out his phone to play an audio clip for reporters of the first Cadillac engine being fired.
Cadillac will initially race with Ferrari engines before GM's power unit is ready for 2029. Reuss said the Cadillac approach is deliberate to have a reliable, fast engine rather than rush one out for next season.
“You have to go slow to go fast,” Reuss said.
Cadillac will have the largest U.S. presence of any F1 team and will operate out of facilities in Fishers, Indiana, as well as in Charlotte, North Carolina. The team also has a satellite facility at Silverstone, England.
When Andretti first launched this project, he was adamant it was for an American driver, specifically California native and current IndyCar driver Colton Herta.
Now the list of potential drivers is rather long. Towriss and Reuss were adamant they've yet to sign a driver amid reports that Sergio Perez has already signed. The need for there to be an American is not a pressing issue to TWG.
“There’s a lot of interest in this team and we're very appreciative of that,” Towriss said. “We want that person set up for success, and want that seat respected when that American driver does come in for the team. ... We’ll find the right way and the right time to bring the right driver into Formula 1.”
IndyCar driver Pato O'Ward, who races under the Mexican flag but spent most of his childhood in Texas, wants a seat. Towriss said they had a funny run-in two weeks ago at the Indianapolis 500 open test when the elevator Towriss was in opened and there was O'Ward; they joked they would talk.
McLaren Racing boss Zak Brown said he wouldn't prevent O'Ward from pursuing a seat with Cadillac. O'Ward drives for McLaren in IndyCar and is the team's F1 reserve driver.
“I wouldn't like it, but I wouldn't stop him,” Brown said.
Valtteri Bottas, now an F1 reserve driver for Mercedes, told The Associated Press he is very interested while IndyCar driver Colton Herta has recently hedged on whether he wants the seat.
There are a number of Americans who could be candidates, especially if the team is willing to wait until deeper into its existence to hire one. NASCAR driver Connor Zilisch, an 18-year-old quickly climbing through the stock car series' ladder system, initially pursued European racing in his career. Sebastian Wheldon, who is deep into the Andretti Global driver development program, on Saturday won his debut Italian F4 race at Misano with Prema Racing.
Another idea could put a long-debated topic to the test: NASCAR champion Kyle Larson, who often comes up as potentially the only driver in the world who could match F1 standout Max Verstappen in talent.
When AP asked Reuss about the possibility of Larson, Reuss said “let's focus on Indianapolis first.” Larson will run for McLaren and Chevrolet for a second consecutive year in the Indianapolis 500 later this month.
Reuss said GM's F1 efforts will not be affected by President Donald Trump’s proposed tariffs despite a potential $5 billion (£3.8bn) impact. Despite reversing a number of the planned tariffs on imports in recent weeks, a 25% tariff is still in place.
“This is a long-term footprint that we have that are very old in some cases, that have been there a long time,” Reuss said. “So we’re working to bring as much as we can into the United States and avoid the tariffs. But not at all cost, and it doesn’t happen overnight. There’s no light switch that says, ‘Oh, all of a sudden we’re tariff-free.’
“You probably would have seen over the last few days, we did earnings on the early part of the week, and then we came back and did the earnings review and guidance. In that second one, there’s about $5 billion of impact for us. But it’s not going to affect this (F1) project.”
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Fans cheer from the stands during the Formula One Miami Grand Prix auto race Sunday, May 4, 2025, in Miami Gardens. Fla. (AP Photo/Rebecca Blackwell)
FILE - The company crest and logo hang over the doors to the showroom of a Cadillac dealership, June 2, 2024, in Lone Tree, Colo. (AP Photo/David Zalubowski, file)
Federal Reserve Chair Jerome Powellsaid Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
The move represents an unprecedented escalation in President Donald Trump’s battle with the Fed, an independent agency he's repeatedly attacked for not cutting its key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could over time escalate borrowing costs for mortgages and other loans.
The subpoenas relate to Powell’s testimony before the Senate Banking Committee in June, the Fed chair said, regarding the Fed’s $2.5 billion renovation of two office buildings, a project Trump has criticized as excessive.
Here's the latest:
Stocks are falling on Wall Street after Federal Reserve Chair Jerome Powell said the Department of Justice had served the central bank with subpoenas and threatened it with a criminal indictment over his testimony about the Fed’s building renovations.
The S&P 500 fell 0.3% in early trading Monday. The Dow Jones Industrial Average lost 384 points, or 0.8%, and the Nasdaq composite fell 0.2%.
Powell characterized the threat of criminal charges as pretexts to undermine the Fed’s independence in setting interest rates, its main tool for fighting inflation. The threat is the latest escalation in President Trump’s feud with the Fed.
▶ Read more about the financial markets
She says she had “a very good conversation” with Trump on Monday morning about topics including “security with respect to our sovereignties.”
Last week, Sheinbaum had said she was seeking a conversation with Trump or U.S. Secretary of State Marco Rubio after the U.S. president made comments in an interview that he was ready to confront drug cartels on the ground and repeated the accusation that cartels were running Mexico.
Trump’s offers of using U.S. forces against Mexican cartels took on a new weight after the Trump administration deposed Venezuelan President Nicolás Maduro. Sheinbaum was expected to share more about their conversation later Monday.
A leader of the Canadian government is visiting China this week for the first time in nearly a decade, a bid to rebuild his country’s fractured relations with the world’s second-largest economy — and reduce Canada’s dependence on the United States, its neighbor and until recently one of its most supportive and unswerving allies.
The push by Prime Minster Mark Carney, who arrives Wednesday, is part of a major rethink as ties sour with the United States — the world’s No. 1 economy and long the largest trading partner for Canada by far.
Carney aims to double Canada’s non-U.S. exports in the next decade in the face of President Trump’s tariffs and the American leader’s musing that Canada could become “the 51st state.”
▶ Read more about relations between Canada and China
The comment by a Chinese Foreign Ministry spokesperson came in response to a question at a regular daily briefing. President Trump has said he would like to make a deal to acquire Greenland, a semiautonomous region of NATO ally Denmark, to prevent Russia or China from taking it over.
Tensions have grown between Washington, Denmark and Greenland this month as Trump and his administration push the issue and the White House considers a range of options, including military force, to acquire the vast Arctic island.
Danish Prime Minister Mette Frederiksen has warned that an American takeover of Greenland would mark the end of NATO.
▶ Read more about the U.S. and Greenland
Trump said Sunday that he is “inclined” to keep ExxonMobil out of Venezuela after its top executive was skeptical about oil investment efforts in the country after the toppling of former President Nicolás Maduro.
“I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.”
During a meeting Friday with oil executives, Trump tried to assuage the concerns of the companies and said they would be dealing directly with the U.S., rather than the Venezuelan government.
Some, however, weren’t convinced.
“If we look at the commercial constructs and frameworks in place today in Venezuela, today it’s uninvestable,” said Darren Woods, CEO of ExxonMobil, the largest U.S. oil company.
An ExxonMobil spokesperson did not immediately respond Sunday to a request for comment.
▶ Read more about Trump’s comments on ExxonMobil
Trump’s motorcade took a different route than usual to the airport as he was departing Florida on Sunday due to a “suspicious object,” according to the White House.
The object, which the White House did not describe, was discovered during security sweeps in advance of Trump’s arrival at Palm Beach International Airport.
“A further investigation was warranted and the presidential motorcade route was adjusted accordingly,” White House press secretary Karoline Leavitt said in a statement Sunday.
The president, when asked about the package by reporters, said, “I know nothing about it.”
Anthony Guglielmi, the spokesman for U.S. Secret Service, said the secondary route was taken just as a precaution and that “that is standard protocol.”
▶ Read more about the “suspicious object”
Trump said Iran wants to negotiate with Washington after his threat to strike the Islamic Republic over its bloody crackdown on protesters, a move coming as activists said Monday the death toll in the nationwide demonstrations rose to at least 544.
Iran had no direct reaction to Trump’s comments, which came after the foreign minister of Oman — long an interlocutor between Washington and Tehran — traveled to Iran this weekend. It also remains unclear just what Iran could promise, particularly as Trump has set strict demands over its nuclear program and its ballistic missile arsenal, which Tehran insists is crucial for its national defense.
Iranian Foreign Minister Abbas Araghchi, speaking to foreign diplomats in Tehran, insisted “the situation has come under total control” in fiery remarks that blamed Israel and the U.S. for the violence, without offering evidence.
▶ Read more about the possible negotiations and follow live updates
Fed Chair Powell said Sunday the DOJ has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations.
The move represents an unprecedented escalation in Trump’s battle with the Fed, an independent agency he has repeatedly attacked for not cutting its key interest rate as sharply as he prefers. The renewed fight will likely rattle financial markets Monday and could over time escalate borrowing costs for mortgages and other loans.
The subpoenas relate to Powell’s testimony before the Senate Banking Committee in June, the Fed chair said, regarding the Fed’s $2.5 billion renovation of two office buildings, a project that Trump has criticized as excessive.
Powell on Sunday cast off what has up to this point been a restrained approach to Trump’s criticisms and personal insults, which he has mostly ignored. Instead, Powell issued a video statement in which he bluntly characterized the threat of criminal charges as simple “pretexts” to undermine the Fed’s independence when it comes to setting interest rates.
▶ Read more about the subpoenas
President Donald Trump speaks to reporters while in flight on Air Force One to Joint Base Andrews, Md., Sunday, Jan. 11, 2026. (AP Photo/Julia Demaree Nikhinson)
President Donald Trump waves after arriving on Air Force One from Florida, Sunday, Jan. 11, 2026, at Joint Base Andrews, Md. (AP Photo/Julia Demaree Nikhinson)
