According to the North Carolina City Council's Concord's Future Conference Agenda, the next Cadillac Formula 1 team hopes to build a factory in the city to house the Power Unit program.
Cadillac F1 is set to join the grid as the 11th team next season. The team will start as customer-run using Ferrari Power Units next year, but in the end Cadillac will be working with its own power unit program.
The team is currently considering bringing the business to Concord, North Carolina.
Concord City Council Next The meeting is scheduled Thursday, February 13th. Prior to that meeting, the city council posted both the meeting agenda and the meeting packet for review. One of the meeting's agenda items is the possibility that city councils will “provide incentives to stimulate the expansion of the private sector of new facilities.”
One such potential expansion is the Cadillac F1 factory.
“Motorsport IP Acquisition Co, I, LLC proposes to develop a site that supports the development of power units (engines) for Cadillac F1 vehicles. This project meets the strict performance and efficiency standards of F1. The aim is to design and test cutting edge engines that can be used. The ambitious timeline will allow the vehicle to integrate engines into the vehicle by 2028, making Cadillac's competitive debut in Formula 1. It's about securing it. 2027.”
Earlier this year, Cadillac F1 Operation announced the formation of GM Performance Power Units LLC, a branch of the company that develops F1 power units. At the time of that announcement, the report indicated that Cadillac is attempting to house some of its operations in North Carolina, near GM's Charlotte Technical Center.
As stated on the agenda of Concord City Council's Thursday meeting, the Power Unit Factory is “thought to bring manufacturing, engineering and 300-350 highly skilled employees.”
Research and development with average wages in the region ranging from $100,000 to $125,000 per year.
This news is just the latest development as Cadillac rises before joining the Formula 1 grid next season. Speculation is still swirling around the sport about two drivers that Cadillac may sign up next season, one of the many drivers Colton Hertha has linked to the new team.
