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.
Gaining an F1 entry would be a significant achievement for Hitech, completing their single-seater ladder and positioning them among the world’s best teams. The team has invested 20 months in planning and preparation, and currently boasts a workforce of over 150 skilled professionals based in Silverstone.
While Kim’s involvement in motor racing is his first venture, he has been a long-time enthusiast and sponsor of Kazakh athletes in boxing and tennis. Kim expressed his excitement about entering into a partnership with Hitech, highlighting the dynamic appeal, growing exposure, marketing opportunities, and passionate fan base of motorsport.
Oliver Oakes, founder of Hitech, welcomed Vladimir Kim to the group, recognizing the natural synergies between their ambitions. Oakes expressed his gratitude for Kim’s support, emphasizing its value in building on Hitech’s success and working towards broader ambitions in the coming years.
Hitech has witnessed several notable names pass through its ranks on their way up the junior ladder. While the team has secured 10 race victories, their highest finish in the teams’ standings was fourth since joining the F2 grid in 2020. Former Haas F1 driver Nikita Mazepin achieved two wins in Hitech’s debut F2 season, and Red Bull junior Liam Lawson also raced for the team in 2021.
The team’s most recent victory in F2 was in September 2022 when Juri Vips, a former Red Bull junior driver, won the sprint race at Monza. With the backing of a Kazakh billionaire and their established presence in junior racing, Hitech GP aims to leverage its experience, resources, and talented personnel to make a successful transition to the pinnacle of motorsport in the near future.
