British racing workforce Hitech have utilized to enter a workforce in Components One from 2026 with funding from Kazakh billionaire businessman Vladimir Kim.
Hitech World Holdings, which owns and operates Hitech Grand Prix, mentioned in a press release on Monday it had agreed the sale of a 25% curiosity to Kim.
Hitech Grand Prix at present competes within the Components Two, Three and 4 junior sequence and employs greater than 150 individuals at Silverstone.
Earlier Hitech drivers embody Russian Nikita Mazepin, whose billionaire father Dmitry was a sponsor till the imposition of sanctions following the Russian invasion of Ukraine.
“In 2023, after 20 months of planning and intensive preparation at its Silverstone base, Hitech made its software for entry into the FIA Components One world championship from the 2026 season,” the corporate mentioned on its web site.
It mentioned the transfer “would full its single-seater ladder and display that Hitech has all the precise individuals, expertise and sources to compete alongside the most effective groups on this planet.”
Components One’s governing physique, the FIA, in February began a proper software course of to establish a number of new groups focused on becoming a member of in 2025, 2026 or 2027 however no resolution has been introduced.
U.S.-based Andretti World and Common Motors are additionally searching for to compete utilizing the Cadillac model.