This year’s Ferrari-powered machine will be known as the MAC-26, which stands for Mario Andretti Cadillac 26.

Andretti was one of the instigators of the new Formula 1 team, alongside his son Michael.

Cadillac said the chassis name “recognises Andretti’s legacy” and “reinforces a forward-looking identity rooted in performance and the pursuit of results at the highest level of motorsport, coupled with humility, humanity and passion.”

Andretti, who won the F1 drivers’ championship in 1978 with Lotus, said he was honoured to have Cadillac’s first F1 car named after him.

“Racing has been the joy of my life,” said Andretti.

“It is the ultimate compliment that the Cadillac Formula 1 Team sees those years as meaningful and worthy of recording with this honour.

“I cherish the opportunity that it gives me to have a lasting bond with F1 and am genuinely appreciative of everyone who continues to acknowledge my part in racing history.”

Cadillac will begin its first Formula 1 race at the Australian Grand Prix in a week with Sergio Perez and Valtteri Bottas on the Albert Park circuit.

“Mario Andretti is a legend of Formula 1,” said Graeme Lowdon, Cadillac team principal.

“A true racer who knows how to win and push the limits of what is possible.

“But more than that, he is an incredible man with a gentle heart who believes in everyone’s ability to shape their own path.

“At the start of my own journey with the team, he asked me not to let him down – I hope that he will be proud to see the Cadillac Formula 1 Team car bearing his name finally take to the grid.”

Cadillac CEO Dan Towriss added: “Naming our first chassis MAC-26 reflects the spirit Mario carried into Formula 1 and the belief that an American team belongs on this stage.

“His story embodies the American dream and inspires how we approach building this team every day.”