Hitech Grand Prix confirms its F1 bid. Hitech, a team that competes in F3 and F2, has announced its bid for a possible entry into F1 in 2026. The decision was prompted by a major investment that could benefit Oliver Oakes’ team.
On Monday, Hitech’s parent company, Hitech Global Holdings Limited, announced that it had sold a 25% stake to Kazakh businessman Vladimir Kim. This is his very first investment in motor sport.
The man who made his fortune in mining has decided to bet on Hitech, for a possible entry into F1 in 2026.
“Motorsport has long been close to my heart and I am delighted to be entering into a partnership with an organisation that has been successful in so many categories and has such ambitions for its future,” said Vladimir Kim.
“We are already involved in the sport, but this is the first time we have invested in motor sport on a global scale. Its dynamic appeal, growing exposure, business-to-business marketing opportunities, and burgeoning fan base match my personal and commercial ambitions,” he explained.
Who is Vladimir Kim?
Vladimir Kim is a prominent Kazakh businessman who has made significant contributions to the economic development of Kazakhstan. Born on October 29, 1960, in Almaty, Kazakhstan, Kim is widely recognized for his influential role in the country’s mining industry.
Kim’s notable achievement came as the founder and chairman of the Eurasian Natural Resources Corporation (ENRC), a leading diversified natural resources group. Under his leadership, ENRC expanded its operations beyond Kazakhstan and became a global player in the mining and metals sector. The company focused on the extraction, processing, and marketing of various commodities, including coal, iron ore, ferroalloys, and other base metals.
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Throughout his career, Kim has demonstrated a strong entrepreneurial spirit and business acumen. He played a vital role in attracting foreign investment to Kazakhstan and fostering partnerships with international companies. His efforts not only contributed to the growth of ENRC but also had a positive impact on the overall economic development of the country.
In addition to his business ventures, Kim has also been involved in philanthropic activities, supporting various charitable causes in Kazakhstan. His contributions to education, healthcare, and social welfare have made a significant difference in the lives of many people.
The goal: to enter F1
This massive investment comes at the best of times for Hitech, the team has officially submitted a bid to join F1 from 2026.
Its boss, Oliver Oakes, is confident.
“I am delighted to welcome Vladimir Kim to the Hitech group. In our discussions we have found many natural synergies and I know that his support will be invaluable as we look to build on Hitech’s success and work towards its wider ambitions over the coming years,” he said. Hitech wants to show the motorsport world that it has the ability to compete with the best and become a world-class team.
However, joining F1 will not be easy with the fact that other projects are also underway. These include Andretti-Cadillac and Craig Pollock’s team, which would like to be the first F1 team to have complete parity between men and women.
Hitech still has a long way to go, but certainly, Vladimir Kim’s investment will only benefit the British team.