One of the three new teams granted entry into the 2010 Formula One championship, Team US F1, says they plan to have their car ready by the end of October.
Team boss Ken Anderson tells Autosport that the design of the new car is in the advance stages and he hopes to ramp up production in the next month.
"The chassis is locked down, because we were waiting to hear if the (Cosworth) engine rev limit was 20,000rpm or 18,000rpm," said Anderson.
"The chaps will now start building the chassis in August. We will have it rolling on the ground in late September, without bodywork or stuff, and then the bodywork will get added in October."
Anderson says the current staff of 20 is about to double over the course of the next month at the team's Charlotte, North Carolina factory.
"It wasn't prudent to order $5 million of machines until we were (approved)," he said. "The thing is we need people to run machines, and there was no point having them until the machines are there."
Anderson, who co-owns the U.S.-based F1 team with Peter Windsor, says they are close to finalizing a deal to use the Aragon circuit in Spain as its European test facility.
"It is not signed or sealed though. We are evaluating there and Paul Ricard."
No word on when the team plans to hire a driver but a report in the German publication Bild Sport claims Jacques Villeneuve is close to signing on with the team. The newspaper says an official announcement could be made in the next few weeks.
"It's true, I will return to Formula 1," Villeneuve is quoted as saying without specifically making reference to US F1. "The cars next year, with slick tires and reduced aerodynamics, are perfect for me."
YouTube co-founder and CEO Chad Hurley is rumored to be one of the team's primary investors.