Recently, the Hitech Grand Prix team, which serves as a race track for F2, F3, and F4 decided to join the Formula 1 race tracks. They said that they had been planning and preparations were being made for months for the Hitech GP team to join Formula 1. They raised a bid to join by 2026 as one of the official race tracks.
The CEO of the Hitech Grand Prix team, Oliver Oaks recently welcomed Kazakh businessman, Vladimir Kim. He purchased a 25% interest in Hitech Global Holdings Limited. And they are now aiming to reach the Formula 1 races. With Vladimir on the team, they have confirmed their application for joining the Formula 1 races.
🚨 | Hitech GP announces it has made an official application to enter the Formula 1 Championship in 2026.
Hitech has also sold 25% of its group to a Kazakh buisnessman, Vladimir Kim.
Kim’s net worth is approximately $4.6 billlion, according to Forbes.
— formularacers (@formularacers_) June 26, 2023
Oliver Oaks said that he is very happy to be welcoming Vladimir Kim into the team and is expecting to see high results directly in the Formula 1 races instead. He is a Kazakh businessman and a billionaire.
Vladimir Kim’s businesses before HiTech
Vladimir Kim was born in the year 1960. He is a Korean who graduated with a degree in Architecture and Civil Engineering. Through the Natural Resources Sector, he built most of his wealth as well as owning multiple companies overseas. While living in Kazakhstan itself, he is married with three children.
He acted as Managing director and also CEO of Zhezkazgantsvetmet JSC which was the core subsidiary of Kazakhmys. In 2000, he was made the chairman of the board of directors and the Chairman of Kazakhmys. But in May of 2013, Vladimir stepped down from the post of Chairman of Kazakhmys and became a non-executive director.
By the year 2022, he had been mentioned in Forbes for five consecutive years for being the richest man in Kazakhstan with a net worth of $5 billion.
He had always had a love for motorsport so in 2023, he decided to invest in the HiTech Grand Prix and the HiTech Global Holdings Limited and soon started pushing for the preparations to get the race track added to the Formula 1 World Championship races. And they are aiming to be there by 2026.
2026 will be seeing a lot of changes in the Formula 1 world. There will be major changes in the engines of the cars. And we will also be seeing a few new teams join the pits. And in addition to it, we may now see the Hitech GP team on the race tracks in the pits and joining Audi, Ford, and Honda.