$4,600,000,000 worth business tycoon makes official application to enter the F1 grid with Hitech GP

Hitech GP has officially offered an application to enter F1 as a team for the 2026 season. This was mentioned along with the announcement that they would be selling 25% of their ownership in shares to Kazakh businessman Vladmir Kim.

This is, of course, massive for the racing organization, as they already nurture several young racing drivers in their F2, F3, British, F3, Asian, and F4 teams.

Speaking about the partnership with Hitech GP Racing Organization, Vladmir Kim said:

“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."

He added:

“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.”

Hitech Global Holdings CEO Oliver Oakes was also delighted to have Vladmir Kim on board as they push forward to join the top single-seater racing series in the future.

He said:

“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.”

The 2026 F1 season is a major milestone for the sport as new power unit regulations will come into effect, along with several new automotive giants like Audi, Honda, etc. joining or returning to the sport.

Along with other interested entrants like Andretti-Cadillac, Hitech GP has also been planning to join F1 in the future.

However, since there is a lot of debate about the prize money pool dilution and exorbitant entry fee for the sport, only time will tell whether any new team will officially join F1 or not.

---

Carlos Sainz is skeptical about Ferrari's pace in the upcoming 2023 F1 Austrian G

F1 Grand Prix of Monaco - Qualifying

Carlos Sainz feels Ferrari's pace in the 2023 F1 Austrian GP will depend a lot on the characteristics of the track itself.

He explained how the SF-23 is slower in high-speed corners, one of the reasons why they struggled in Barcelona but were good in Monaco and Canada.

As per RacingNews365, the Ferrari driver said:

"Our pace in Austria will depend a lot on the characteristics of the circuit, our pace varies a lot depending on that. We see places like Monaco or Canada we are stronger than places with higher speed corners like Barcelona, where we struggle a bit more, so I think we will see variations in our competitiveness."

The 2023 F1 Austrian GP will soon take place on July 2 at the Red Bull Ring circuit.