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F1: New American F1 team changes name

American businessman Gene Haas intends to run a team in the 2016 Formula World Championship and he has renamed its team.

Haas, the sole owner of Haas Automation, has been granted the right to run a new F1 team by the FIA early spring of 2014.

Gene Haas had originally called his team Haas Formula, but in a bid to make the most of the promotional benefits of its Grand Prix entry it will now become known as Haas F1 Team.

"Haas F1 Team automatically conveys our place among the pinnacle of motorsports”, said Haas who also co-owns the Stewart-Haas Racing NASCAR Sprint Cup team.

"When you hear 'F1' you know exactly what it is - a global racing series that showcases the latest technology and attracts the best talent in engineering and design,” he added.

The Charlotte, North Carolina based team has also launched its official website (