British Team "High Tech" Seeks Entry into Formula 1

The British racing team "High Tech" has applied to join the Formula 1 World Championship starting in 2026, backed by Kazakh billionaire Vladimir Kim. The holding company "High Tech Global Holdings," which owns the "High Tech" Grand Prix team, announced on Monday that it has agreed to sell a 25% stake to Kim. "High Tech" is currently competing in Formula 2, 3, and 4, employing over 150 people in Silverstone. Among the former drivers for "High Tech" is the Russian Nikita Mazepin, whose father, billionaire Dmitry, had sponsored him before sanctions were imposed following the Russian invasion of Ukraine. The company stated on its website: "In 2023, after 20 months of extensive planning and preparation in Silverstone, High Tech submitted an application to join the Formula 1 World Championship starting in the 2026 season." It added that "this move demonstrates that High Tech has all the right people, expertise, and resources to compete alongside the best teams in the world."