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Hitech GP has announced that they have applied to join the 2026 Formula 1 grid following “20 months of preparation”.
BAKU, AZERBAIJAN – JUNE 12: Juri Vips of Estonia and Hitech Grand Prix (8) makes a pitstop during the Round 6:Baku feature race of the Formula 2 Championship at Baku City Circuit on June 12, 2022 in Baku, Azerbaijan. (Photo by Clive Rose/Getty Images)It was announced today that 25% of Hitech Global Holding Limited has been sold to Vladimir Kim. Hitech Global Holdings owns the Hitech Grand Prix business and operates the Formula 2, Formula 3 and Formula 4 teams.
Within the press release, Hitech made another, even more, shocking announcement… they announced that they have applied to join the 2026 Formula 1 grid.
“In 2023, after 20 months of planning and extensive preparation at its Silverstone base, Hitech made its application for entry into the FIA Formula One Championship from the 2026 season, a move that would complete its single-seater ladder and demonstrate that Hitech has all the right people, experience and resources to compete alongside the best teams in the world.”
Despite having only been involved in motorsport for less than a decade, after being founded in 2015, Hitech Grand Prix has found success in the lower formulas.
New Investment
One of the main reasons that Hitech has been able to take this next step is because of the new investment found in the deal with Vladimir Kim. Kim, an avid motorsport fan, spoke excitedly about the commercial opportunities as well as the personal enjoyment he would get from the deal.
“We have an established involvement with sport; however, this is our first global investment in motorsport. Its dynamic appeal, growing exposure, business-to-business marketing opportunities and burgeoning fan base are aligned with my ambitions personally and commercially.”
“Motorsport has been a long-standing personal interest for me, and I am delighted to be entering into a partnership with an organisation that has enjoyed success in so many categories and has such ambitions for its future.”
The future of Formula 1
Since the FIA opened up applications for new teams to join the grid, many other teams have been rumoured to be making applications. Most notably, Andretti have confirmed their application for entry in their partnership with Cadillac.
Hitech CEO, Oliver Oakes, has stated that the new investment and support from Kim will be “invaluable” as the group pursues an entry into Formula 1.
“I am delighted to welcome Vladimir Kim to the Hitech group. During our discussions, we found many natural synergies and I know that his support will be invaluable as we seek to build on Hitech’s success and work towards achieving its broader ambitions over the years to come.”
Following this announcement, all eyes will be on other FIA applications. Despite many teams wanting to enter, the Formula 1 grid only has space for 12 teams meaning a maximum of 2 applications have the chance of being successful.
Will Hitech Grand Prix make the cut?
Feature Image Credit: XPB Images
