Hitech GP submits official bid to enter F1 in 2026, sells 25 percent stake to $4.6 billion worth Kazakh businessman

Vladimir Kim is in full support of Hitech GP's targets in the world of motor racing.

Hitech GP submits official bid to enter F1 in 2026, sells 25 percent stake to $4.6 billion worth Kazakh businessman

Hitech GP (Credits: AutoSport)

Formula 1 has been on the rise in recent years, and the well-recognized British motor racing team, HiTech GP, has made it known that they have officially joined the race to enter F1 in 2026. Moreover, amongst all this, the group has sold 25 percent of its stake to Kazakh businessman Vladimir Kim.

The Hitech Grand Prix Limited was founded in 2005 by Oliver Oakes and has, over the years, established itself as a competitive and professional motor racing team. The outfit is dead serious about entering the pinnacle of motor racing in 2026 and has so far contested in categories like Formula 4, Formula 3, Formula 2, etc.

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Oliver Oakes is extremely pleased with the new deal, and while talking about it, he said, “I am delighted to welcome Vladimir Kim to the Hitech group. During our discussion, I found many synergies and I know that his support will be invaluable as we seek to build on Hitech’s success and work toward achieving its broader ambitions over the years to come.”

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Oakes is over the moon with the new deal that the Hitech group has secured and ardently feels that Vladimir Kim’s support will be crucial in achieving the team’s ambitious targets. The Kazakh businessman is expected to play a crucial role in the team’s objective to enter Formula 1 in 2026.

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Vladimir Kim is delighted with his association with the Hitech group

Vladimir Kim (Credits: The times)
Vladimir Kim (Credits: The Times)

While Oliver Oakes is more than pleased with the arrival of Vladimir Kim on the Hitech GP group, the latter himself is ecstatic about it and has added, “Motorsports has been a long-standing personal interest for me, and I am delighted to be entering into a partnership with an organization that has enjoyed success in so many categories and has such ambitions for its future.”

“We have an established involvement with sports, however, this is our first ever global involvement with motorsports. Its dynamic appeal, growing exposure, business-to-business marketing opportunities, and burgeoning fan base are aligned with my ambitions personally and commercially.” Kim has clarified that he is fully invested in the Hitech group.

With the Hiteach group joining the race to enter Formula 1 alongside the other interested parties who have already shown interest, the tussle between the parties and the F1 group will be one to keep an eye on. 2026 is still quite far away, and until then, there will be many twists and turns in this whole saga.

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