The project was initiated in January 2009 by British designer and engineer Ben Bowlby. Originally conceived as a potential design for the 2012 IndyCar Series season, the prototype received financial backing from Chip Ganassi. The car was publicly unveiled in February 2010 at the Chicago Auto Show. Although Ganassi and his partners held the patents for the design, IndyCar opted for a Dallara chassis in July 2010. Following this rejection, Bowlby partnered with Don Panoz to present the concept to the Automobile Club de l'Ouest (ACO), which granted the car an invitation to the 2012 24 Hours of Le Mans under the "Garage 56" designation for experimental vehicles.
The DeltaWing made its track debut on March 1, 2012, during a shakedown at Buttonwillow Raceway Park. The initial racing effort, known as Project 56, was a collaboration between Bowlby, Dan Gurney's All American Racers as constructor, Duncan Dayton's Highcroft Racing, and managing partner Don Panoz. Nissan's NISMO division provided the engine for the 2012 season in exchange for naming rights. The car was built and maintained at the Panoz headquarters in Braselton, Georgia.
The DeltaWing’s delta shape was engineered to reduce aerodynamic drag significantly. It featured a front track of 2.0 feet (61 cm) and a rear track of 1.7 meters (5 ft 7 in). Downforce was generated by the underbody rather than wings, though the car utilized a moveable Gurney flap, a feature permitted specifically for experimental entries.
In its 2012 configuration, the car weighed 475 kilograms (1,047 lb) and was powered by a 300 bhp four-cylinder turbocharged engine assembled by Ray Mallock Engineering using Chevrolet components. The weight distribution was unique, with 72.5 percent of the mass and 76 percent of the downforce situated at the rear. The braking system weighed 13.2 kilograms, approximately half that of a standard racing car.
In 2013, a coupe variant designated the DWC13 was introduced to comply with P1 regulations and improve driver safety. This version featured a purpose-built monocoque and a roof-mounted air intake, replacing the Aston Martin-derived chassis used previously. The 2013 power plant was a 2.0L Mazda MZR-based engine produced by Élan Motorsport Technologies, generating 345 hp.
Driven by Marino Franchitti, Michael Krumm, and Satoshi Motoyama, the DeltaWing qualified 29th with a time of 3:42.612. During the race, the car demonstrated fuel efficiency by completing 11 laps on a 40-liter tank. However, the entry retired after 75 laps when Motoyama collided with Kazuki Nakajima's Toyota TS030 Hybrid and struck a concrete barrier at the Porsche Curves.
Following Le Mans, the car ran as an unclassified entry at the 2012 Petit Le Mans, securing a fifth-place finish. For 2013, Don Panoz entered the car in the ALMS P1 class as a fully classified entry, though original partners Nissan, All American Racers, and Michelin had departed. The car struggled with reliability, retiring from the 12 Hours of Sebring in the second hour due to engine failure. Its best result of the 2013 season was fifth overall at Road America. The team avoided street circuits like Long Beach and Baltimore, as manager Dave Price believed the car was not suited for those environments.
In 2014, the DeltaWing joined the United SportsCar Championship. At the Petit Le Mans finale, the car led 15 laps and finished fourth. The 2015 season was marked by gearbox issues, though the team finished eighth in the Prototype standings. In 2016, the car led 29 laps at the 24 Hours of Daytona before Andy Meyrick crashed into a stationary vehicle. The team also made its first appearance at Long Beach in 2016, but retired following braking issues and engine failure.
A significant legal dispute arose on November 22, 2013, when the DeltaWing consortium (Panoz and Ganassi) sued Ben Bowlby and Nissan. The lawsuit alleged the misappropriation of trade secrets and breach of contract regarding the design of the Nissan ZEOD RC and the BladeGlider concept car. The case was settled out of court in March 2016 under confidential terms.
The DeltaWing's competitive lifespan ended due to regulatory changes following the 2016 season. Although Don Panoz expressed interest in running the 2017 Rolex 24 at Daytona to settle "unfinished business," it was confirmed in November 2016 that the car would not compete. The new regulations placed the DeltaWing in the same class as DPi and LMP2 machinery, effectively ending its eligibility.
The DeltaWing's performance was characterized by high efficiency and variable pace relative to established classes. At the 2012 Le Mans, its best lap of 3:45.737 rivaled LMP2 times. In 2013 at Sebring, it qualified 15th, five seconds ahead of the fastest GT car but ten seconds behind the pole-sitting Audi R18. During its tenure in the United SportsCar Championship, it proved capable of leading laps at major endurance events, including Daytona and Road Atlanta, despite frequent mechanical retirements.