Hyundai eyeing F1 entry as the interest in the sport is rising across the globe
Rumours are circulating about South Korean automotive giant Hyundai expressing a keen interest in entering Formula 1 by acquiring an existing team. Hyundai, which has maintained a strong presence in the World Rally Championship (WRC) since debuting the i20N in 2014, is reportedly looking to expand its motorsport involvement. The company’s WRC efforts, led by former Renault F1 Team Principal Cyril Abiteboul, have been successful, with Hyundai clinching the manufacturers’ championship titles in 2019 and 2020.
According to F1 journalist Joe Saward, Hyundai is seriously considering buying its way into the elite motorsport series. However, a significant challenge lies ahead as no F1 teams are publicly available for sale at the moment, making a near-term entry into the sport a complex task. Nonetheless, Hyundai’s expressed intent to join F1 might garner favourable attention from Formula One Management, especially compared to other potential entrants.
One potential obstacle for Hyundai is the need to inherit a power unit from an existing manufacturer, should they join the sport soon. This scenario is not unprecedented in F1, as seen with the partnerships between Honda and Aston Martin. Forming a similar alliance with an existing OEM could be a viable solution for Hyundai.
From Formula One Management’s perspective, the entry of established automotive manufacturers into F1 is generally preferred. This preference was evident in the handling of Andretti Autosport’s bid to join the F1 grid. Andretti’s plans to start a team from scratch have faced resistance, partly because the management believes that the addition of new teams should add substantial value to the sport. Andretti’s bid, initially set for 2026, was delayed with encouragement to reapply once a potential General Motors power unit was ready.
The 2026 engine regulations, which emphasise hybrid technology, were designed to attract more automotive manufacturers to F1. These regulations have already played a role in bringing Audi to the sport and convincing Honda to return, while Ford has partnered with Red Bull Powertrains.
Hyundai’s potential entry into F1 comes at a time when the sport is looking to expand its presence in Asia. Hyundai, the fourth-largest auto manufacturer globally, could significantly enhance F1’s footprint in the region. South Korea is also showing interest in hosting a Grand Prix in Incheon, which could further boost Hyundai’s bid. The last South Korean Grand Prix, held from 2010 to 2013, had Hyundai contemplating an entry before the company was affected by a bribery case.
If the Incheon Grand Prix bid is successful, it could set the stage for Hyundai to join the F1 grid, potentially adding another automotive powerhouse to the sport. The synergy between a South Korean Grand Prix and Hyundai’s involvement could be mutually beneficial, fostering greater interest and investment in F1 from the region.
