The development and production of the cars will begin immediately at the Riley & Scott manufacturing facility in Indianapolis, Indiana.
Since the announcement of TRAC five months ago, league officials and consultants have been researching various car designs and manufacturers.
Riley & Scott Race Car Engineering has served as consulting engineers for the NASCAR Winston Cup teams of Rick Hendrick Motorsport, Robert Yates Racing and Richard Childress Racing.
Bill Riley, vice president of Riley & Scott, said: "We believe Team Racing Auto Circuit can add a whole new perspective to stock car racing and broaden the fan base for this sport."
The firm will produce approximately 100 race cars for TRAC for the 2003 season.
Initially, the league will consist of ten, three-car teams that will be located in major US cities with motorsports venues in the area.
Each team will represent its city or region and will participate in a season-long schedule of races, concluding with a season-ending championship race.
