Author: Barkha Roy
Hitech Global Holdings, the parent company of Hitech Grand Prix, recently confirmed its bid to take part in the Formula 1 World Championship in 2026. The British racing team, which currently participates in the Formula 2, 3 and 4 junior series, aims to complete its single-seater career and show its capabilities alongside the best teams in the world. The application follows 20 months of meticulous planning and preparation at its headquarters in Silverstone.
To support its ambitious endeavor, Hitech Global Holdings has entered into a strategic partnership with prominent Kazakh businessman Vladimir Kim. The deal involves the sale of a 25% stake to Kim, whose interests lie in the mining, banking and aviation sectors. Known for his companies’ involvement in the extraction and processing of copper ore, Kim’s entry into international motorsport marks an exciting venture into a new domain. Previously, his companies sponsored renowned Kazakh athletes such as boxing champions Gennadiy Golovkin and Serik Sapiyev, as well as top-level tennis players.
Expressing his enthusiasm, Kim said:“Motorsport has been a long-standing personal interest for me, and I am very happy to be entering into a partnership with an organization that has been successful in so many categories and has so many ambitions for its future.” Kim recognized the dynamic appeal, growing exposure, business-to-business marketing opportunities and expanding fan base of motorsport, aligning with his personal and business aspirations.
Hitech Grand Prix CEO Oliver Oakes warmly welcomed Vladimir Kim to the Hitech group, emphasizing the natural synergies discovered during their discussions. Oakes expressed his gratitude for Kim’s invaluable support, recognizing him as a catalyst for building on Hitech’s current achievements and pursuing broader goals in the coming years.
While Hitech Grand Prix anxiously awaits confirmation from the FIA, Formula 1’s governing body, about its candidacy, several other parties are vying for a place on the F1 grid. Among them are Andretti, the US-based racing team in partnership with Cadillac, and former BAR boss Craig Pollock, who wants to establish “Formula Equal”, a team committed to maintaining a 50:50 ratio between men and women in the team.
The FIA continues to evaluate proposals from interested parties, and the selection process is ongoing. Hitech Grand Prix’s entry into the Formula 1 Championship, backed by Vladimir Kim’s investment, signals the team’s determination to demonstrate its capabilities, experience and resources among the world’s leading teams.