The Mexican was dropped by Red Bull at the end of last season despite having two further years on his contract after the team felt he had run out of time to prove he could provide the required support for Max Verstappen.
Dan Towriss, chief executive officer of GM’s partner TWG Global, said Cadillac had considered signing a young and up-and-coming driver before confirming this line-up.
“Their experience, leadership and technical acumen are what we need,” Towriss said. “We’re humbled by their belief in us and this project.
“There is a young pool of drivers who are exiting and very talented so it was a tough decision. But it was the leadership of these two drivers that stood out.”
Bottas said in a team statement that he felt Cadillac were “ambitious but also grounded”.
He added: “This isn’t just a racing project; it’s a long-term vision. It’s not every day that you get a chance to be part of something being built from the ground up and helping shape it into something that truly belongs on the F1 grid.
“I’ve had the honour of working with some of the best teams in the world, and I can already see the same professionalism and hunger here.
“This is an iconic brand with a big legacy in American motorsport, and to be a part of the story as it enters the world stage of F1 is incredibly special.”
Perez added: “From our first conversations, I could sense the passion and determination behind this project.
“To help bring such a fantastic company to F1 is a huge responsibility, one I’m confident of taking on.”
