New Formula One team boss Gene Haas believes he will be able to reveal who will produce his team's power units "in the next few weeks".
The NASCAR team co-owner was granted entry into F1 by the FIA earlier this year and his team is expected to join the grid for the 2016 season.
"We haven't signed a deal yet so I don't want to overstep my boundaries and put the cart before the horse. But we are in negotiations and hopefully we will have something in the next few weeks," Haas told Sky Sports F1.
Since the launch of his co-owned Stewart-Haas Racing team in 2003, they have won one Drivers' Championship and 22 Sprint Cup races.
While Haas admits there are huge differences between NASCAR and F1, he believes the time is right for him to expand his business to ventures outside the North American continent.
"We I think NASCAR is a great racing series in the US, but we are trying to expand our business overseas and we think that Formula 1 will help us there so that is the main process," he added.
It has been suggested that Ferrari are in prime position to supply Haas with power units after he was spotted in the Scuderia garage at various times during last week's Canadian Grand Prix.