P1racenews AI automatic summary:
A meeting is set to take place within the City of Concorde in North Carolina over a brand-new Cadillac F1 factory.
Cadillac plans to build a new $150 million factory in North Carolina to support its entry into Formula 1, as revealed by government documents. The facility, covering 204,045 square feet, will be located near Hendrick Motorsports, a successful NASCAR Cup Series team. The investment includes a building cost of $65-70 million, plus an additional $65-70 million for equipment and tools. The factory will focus on developing power units for Cadillac’s F1 project, initially using Ferrari engines until they can produce their own from 2028. Approximately 300-350 employees will be hired for the cutting-edge facility, which complements another GM plant already in operation. The leadership team for Cadillac’s F1 endeavor includes Russ O’Blenes as CEO of the power unit division and Greame Lowdon as team principal. Pat Symonds, a seasoned F1 technical officer, will serve as an engineering consultant.
