We have already mentioned that the list of potential new Formula 1 teams includes Oliver Oakes’ H26 project, whose Hitech GP team is represented in Formula 2, Formula 3 and Formula 4.
Hitech GP officially confirmed today that “after 20 months of planning and careful preparation at the Silverstone base, the company has applied to compete in the Formula 1 World Championship from the 2026 season.”
The partner of the project is a businessman from Kazakhstan Vladimir Kim, who is the largest shareholder of the mining company KAZ Minerals and the Kazakhmys group. Kim, who tops the list of the wealthiest businessmen in Kazakhstan with a fortune of $4.6 billion according to Forbes, bought a 25% stake in Hitech GP.
Oliver Oakes: “I am happy to welcome Vladimir Kim to the Hitech group. During the negotiations we found many common grounds for cooperation, so I know his support will be invaluable in our quest to build on Hitech’s success and reach higher goals in the years to come.”
Vladimir Kim: “Motorsport has always been one of my personal interests, so I am delighted to be working with a company that has been successful in many racing series and has great ambitions for the future.
We have been in the sport for a long time, but this is our first global investment in motorsport. Its appeal, growing popularity and business marketing opportunities align with my personal and commercial interests.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
