A couple of hours ago, team principals; Ken Anderson and Peter Windsor officially announced the US F1 Team in an interview with Speed TV. As reported earlier, the US F1 Team intends to take part in the Formula 1 World Championship with its very own chassis and engine, and by hiring American drivers as it plans to join the Formula 1 grid for the 2010 season.

This means that the team has about 1 year to fully develop its contender and assemble its drivers, and rumor has it that the American team is interested to get Scott Speed and Danica Patrick on board.

Nothing much has been revealed during the interview however, apart from the fact that the team will be based in North Caroline which is also the home to the Windshear wind tunnel. The wind tunnel is crucial for the development of the aerodynamic efficiency of a Formula 1 car. The US F1 Team with its “Made in America” tag line will join Force India, as another “country”-based Formula 1 Team.

Both Ken Anderson and Peter Windsor (who is also a motoring journalist) have long resume’s in motor racing such as Formula 1 and Indy Car. Both also revealed that US F1 will reside in North Carolina, America, although most of the other teams are based in Europe. According to the team principals, most of the technology that is utilized in Formula 1 comes from America and that it is cheaper to run a Formula 1 team in America, compared to running one in Europe. But I am pretty sure that logistics might be a problem.

Both also mentioned in the interview that the US F1 Team is privately-owned, as in not a team that is fully owned by a single individual (which should be a millionaire) or an automobile company. Continue reading to watch a 5 minute 23 second-long video of the interview.