The British team Hitech which currently races in F2, F3 and F4 have announced an entry to F1 when the regulations change, following major new investment. The team based at Silverstone announced on Monday that parent company Hitech Global Holdings Limited had sold a 25 percent stake to Kazakh businessman Vladimir Kim.<\/p>\n
Kim\u2019s main interests are in the mining, banking and aviation sectors, with his Kazakhmys and KAZ Minerals Group\u2019s work in extraction and processing of copper ore making it one of the top ten copper producers in the world. He has previously sponsored other Kazah athletes, if successful this would give the company a team in all four formulas.<\/p>\n
Speaking about the deal Kim said: \u201cMotorsport 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.<\/p>\n
\u201cWe 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.\u201d<\/p>\n
Hitech CEO Oliver Oakes added: \u201cI 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\u2019s success and work towards achieving its broader ambitions over the years to come.\u201d<\/p>\n
The deal if approved would make Hitech the third privateer team to submit a bid to enter the sport. Already manufacturers Audi has announced a takeover of Sauber which currently races under the name Alfa Romeo, Ford have announced a partnership with Red Bull.<\/p>\n
Honda has also been confirmed as a power unit supplier, alongside the four current manufacturers Alpine\/Renault, Red Bull\/Honda, Ferrari and Mercedes.<\/p>\n
Other bidders include Cadillac and Andretti who are said to be teaming up with Ford\u2019s parent company General Motors.<\/p>\n
The bidding process is said to continue until Friday\u2019s deadline with the earliest a new team can enter is 2025, however, it’s more likely it will happen in 2026 when the next regulations are introduced. In February the FIA said it hopes to be able to make a decision on bids by 1st<\/sup> July.<\/p>\n Another bid currently titled Formula Equal, the proposed team is expecting to operate with 50\/50 percent split between men and women working at the outfit, and is planning to work out of an unspecified “Gulf area country” – with Saudi Arabia believed to be among the key underwriters of the project.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The British team Hitech which currently races in F2, F3 and F4 have announced an entry to F1 when the regulations change, following major new investment. The team based at Silverstone announced on Monday that parent company Hitech Global Holdings Limited had sold a 25 percent stake to Kazakh businessman Vladimir Kim. Kim\u2019s main interests<\/p>\n","protected":false},"author":3,"featured_media":12118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[53,54,712,2206,1408,1411,2208,2207],"class_list":["post-12116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-analysis","tag-53","tag-2026-regulation-changes","tag-fia","tag-hitech","tag-new-teams","tag-news","tag-oliver-oaks","tag-vladimir-kim"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/posts\/12116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/comments?post=12116"}],"version-history":[{"count":1,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/posts\/12116\/revisions"}],"predecessor-version":[{"id":12117,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/posts\/12116\/revisions\/12117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/media\/12118"}],"wp:attachment":[{"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/media?parent=12116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/categories?post=12116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.f1vault.co.uk\/index\/wp-json\/wp\/v2\/tags?post=12116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}