Rumours are developing regarding South Korean auto giant Hyundai stepping up its interest in buying a Formula 1 team.
Hyundai currently competes at the FIA World Championship level in Rallying, maintaining a presence in the World Rally Championship since debuting the i20N in 2014.
The South Korean marque, whose WRC effort is now run by ex-Renault F1 Team Principal Cyril Abiteboul has won the manufacturers’ crown in 2019 and 2020.
Now, according to F1 reporter Joe Saward, Hyundai is targeting F1 success by buying its way into the sport.
Unfortunately for Hyundai, no F1 teams are up for sale currently, at least publicly, so entering the sport in the near future could prove tricky.
However, signalling intent to join F1 by buying its way will endear Hyundai to the likes of Formula One Management (FOM), with plans from Andretti to start a team from the ground up not playing well thus far.
Another potential hurdle Hyundai is facing is the fact that a relatively immediate entry would mean inheriting a power unit from a rival manufacturer.
Still, F1 is accustomed to manufacturer allegiances, see Honda and Aston Martin, so Hyundai forming a partnership with an existing OEM isn’t out of the question.
It is clear from an FOM perspective, that automotive manufacturers expressing an interest to join F1 is preferable over the alternative, a.k.a. Andretti.
Andretti’s bid to join the F1 grid in 2026 was pushed back but the American racing outfit was encouraged to reapply once a mooted General Motors power unit was ready to go.
In addition, the 2026 engine regulations, which dive deeper into hybrid tech, were specifically designed to attract automotive manufacturers and had a hand in bringing Audi to F1 after decades of hesitation from the German marque.
The 2026 engine regs also convinced Honda to come back to F1 in full force and Ford to partner with Red Bull powertrains.
Andretti’s bid was also stifled as FOM believed that F1 would bring more value to Andretti than the other way around.
Could the same be said for Hyundai? Perhaps not.
Hyundai has grown to become the fourth-largest auto manufacturer in the world and its South Korean home positions it in a region F1 is keen to expand.
F1 successfully expanded in the U.S. without the help of an auto manufacturer but with South Korea expressing interest in hosting a Grand Prix in the city of Incheon, a Hyundai F1 bid could prove timely.
Moreover, the last time South Korea was present on the calendar, between 2010 and 2013, Hyundai did weigh up an entry until it was rocked by a bribery case.
If Incheon’s South Korea GP bid is successful, the dominoes could fall to add another automotive powerhouse to the F1 grid.
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