A two-car American Formula One team based in Charlotte, North Carolina, will be formally announced later this month, according to reports in the American press.

UK newspaper The Guardian reports that one of the two principals in the team, Ken Anderson, confirmed to the Charlotte Observer newspaper and the ThatsRacin.com website that recent reports in those publications about the impending announcement of the team, due to begin competing in 2010, are true. The Guardian says that reports surfaced about the proposed team this week, and that some sources have said it has already won approval from Formula One officials.

“We are looking at a couple of buildings in Charlotte, including one in the University [City] area,” The Guardian reports Anderson as saying.

Anderson said the team is close to signing one driver for its first season, and that it plans to use American drivers from F1’s developmental leagues.

The Guardian says that Anderson is a design engineer who has worked in Formula One, IndyCar racing, and Nascar. The other principal in the team is Peter Wilson, a former team manager at Williams and television presenter for US Formula One coverage on the Speed channel.

The Guardian reports that Anderson has said an American Formula One team would be cost-effective since, “90% of the technology that exists in F1 comes from the US anyway”. He said carbon-fibre chassis, braking systems, computer parts and software and many other elements used in F1 are made by US-based companies.