Founded in 2010, the team won the Rolex 24 at Daytona in its debut appearance. The No. 5 Riley Mk. XI was driven by João Barbosa, Terry Borcheller, Ryan Dalziel, and Mike Rockenfeller, utilizing a third-party 5.0L V8 engine based on the Porsche Cayenne. Following this win, Barbosa and J. C. France finished 5th in the 2011 points standings after a podium at Daytona and a win at Virginia International Raceway.
The team expanded to a second car, the No. 9 Riley-Porsche, and later transitioned both entries to Corvette Daytona Prototypes in 2013. That year, the pairing of Barbosa and Christian Fittipaldi secured wins at Mid-Ohio and Watkins Glen.
In the inaugural 2014 IMSA season, the No. 5 car of Barbosa and Fittipaldi won three races, including the Rolex 24 at Daytona, to claim both the series title and the North American Endurance Cup (NAEC).
For 2015, AXR expanded operations to include the No. 31 Whelen Racing team with drivers Dane Cameron and Eric Curran. The No. 5 team secured its second consecutive IMSA title and the NAEC by winning the 12 Hours of Sebring) and Petit Le Mans. Meanwhile, the No. 31 team won at Detroit and Road America, finishing 3rd in the championship standings.
In 2016, the No. 31 Corvette team won the drivers' title with victories at Canadian Tire Motorsports Park and Road America. The No. 5 team concluded the season by winning its third consecutive North American Endurance Cup.
In 2017, the team transitioned to Dallara-based Cadillac DPi-V.R machines. At the Rolex 24 At Daytona, the Mustang Sampling Cadillac lost the lead on the penultimate lap following contact with Wayne Taylor Racing. The No. 10 team had a strong start to the season following that event. AXR continued to develop the new Cadillac, eventually taking wins at Watkins Glen and other rounds. Although they lost the overall championship to Wayne Taylor Racing, the No. 5 car secured its fourth consecutive NAEC.
The 2018 season saw Felipe Nasr and Filipe Albuquerque join the lineup. The team opened the year with a 1-2 finish at the Rolex 24 at Daytona, setting an all-time distance record. With additional wins at Long Beach and Detroit, the Whelen Engineering squad captured both the WeatherTech SportsCar Championship and the NAEC.
In 2019, Pipo Derani joined the No. 31 entry, while Christian Fittipaldi moved into a management role. In 2021, the team added a new entry, the No. 48 Ally Cadillac Racing Cadillac DPi-V.R, for Jimmie Johnson, Simon Pagenaud, Kamui Kobayashi, and Mike Rockenfeller, which finished 2nd at the Rolex 24 at Daytona. During that same event, Chase Elliott joined the No. 31 Whelen Engineering crew.
The team's competitive record includes participation and victories across the Rolex Sports Car Series, the IMSA WeatherTech SportsCar Championship. Notable achievements include multiple Rolex 24 at Daytona victories and a streak of four consecutive North American Endurance Cup titles from 2014 to 2017.
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