British racing crew Hitech have utilized to enter a crew in Components One from 2026 with funding from Kazakh billionaire businessman Vladimir Kim.

Hitech International Holdings, which owns and operates Hitech Grand Prix, stated in an announcement on Monday it had agreed the sale of a 25% curiosity to Kim.

Hitech Grand Prix at the moment competes within the Components Two, Three and 4 junior sequence and employs greater than 150 individuals at Silverstone.

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Earlier Hitech drivers embody Russian Nikita Mazepin, whose billionaire father Dmitry was a sponsor till the imposition of sanctions following the Russian invasion of Ukraine.

“In 2023, after 20 months of planning and intensive preparation at its Silverstone base, Hitech made its software for entry into the FIA Components One world championship from the 2026 season,” the corporate stated on its web site.

It stated the transfer “would full its single-seater ladder and reveal that Hitech has all the appropriate individuals, expertise and assets to compete alongside one of the best groups on the planet.”

Components One’s governing physique, the FIA, in February began a proper software course of to establish a number of new groups focused on becoming a member of in 2025, 2026 or 2027 however no choice has been introduced.

U.S.-based Andretti International and Normal Motors are additionally looking for to compete utilizing the Cadillac model.