Hitech GP, a prominent team in junior racing categories, has officially announced its application to join the Formula 1 grid in 2026. The team has received significant investment from Kazakh billionaire Vladimir Kim, marking a major milestone in their pursuit of F1 entry.
Founded by former Red Bull junior driver Oliver Oakes in 2015, Hitech has established itself as a reputable team in F2, F3, and F4. In a statement released on Monday, Hitech confirmed that a 25 percent stake in its parent company, Hitech Global Holdings Limited, has been acquired by Kazakh businessman Vladimir Kim. Forbes estimates Kim’s net worth at $4.6 billion, with interests in mining, banking, and aviation industries.
