Rumors are swirling about South Korean auto giant Hyundai’s interest in joining the Formula 1 grid by acquiring an existing team. While no F1 teams are currently up for sale publicly, Hyundai’s intent to enter the sport could align well with Formula One Management’s (FOM) preference for established manufacturers.
🇰🇷 Hyundai is rumored to be eyeing an entry into F1 by buying a team.
Their ambitions match FOM's love for established automakers and need for Asian influence as F1 eyes Asian growth, and Incheon has expressed interested in hosting a GP by 2026. pic.twitter.com/Vaib0j3PBK
— Vincenzo Landino (@vincenzolandino) June 4, 2024
Hyundai has a strong presence in the World Rally Championship (WRC) and has won the manufacturers’ title in 2019 and 2020. Now, they’re eyeing F1 success.
Acquiring an F1 team won’t be easy, given the lack of available teams for sale. Additionally, an immediate entry would mean inheriting a power unit from a rival manufacturer.
FOM prefers manufacturer involvement over new entrants like Andretti. The 2026 engine regulations, designed to attract automakers, could play a role in Hyundai’s decision.
F1 aims for Asian growth, and South Korea’s interest in hosting a Grand Prix in Incheon could be a timely opportunity for Hyundai. While uncertainties remain, Hyundai’s bid could add another automotive powerhouse to the F1 grid, bridging the gap between motorsport and global markets.
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Hyundai has already tasted success in motorsport. Their World Rally Championship (WRC) effort, led by ex-Renault F1 Team Principal Cyril Abiteboul, secured the manufacturers’ title in 2019 and 2020. Now, Hyundai aims to conquer the pinnacle of motorsport: Formula 1.
However, there are hurdles to overcome. No F1 teams are currently up for sale publicly, making Hyundai’s entry complex. Acquiring an existing team would mean inheriting a power unit from a rival manufacturer—a delicate negotiation.
Yet, Hyundai’s ambitions align with F1’s goals. Formula One Management (FOM) prefers established manufacturers over new entrants. The 2026 engine regulations, emphasizing hybrid technology, were designed to attract automakers. Hyundai’s bid could be timely, especially as South Korea expresses interest in hosting a Grand Prix in Incheon.
If the dominoes fall right, we might witness the rebirth of the Alpine F1 Team as the Hyundai F1 Racing Team. As the sport evolves, Hyundai’s entry could inject fresh energy and Asian influence into the grid.
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