F1 launches into multi-year partnership with Hot Wheels

Formula 1 and Hot Wheels announced on Wednesday that the two parties have entered into a multi-year partnership.

Hot Wheels, a Mattel brand formed in 1968, has grown into the world-leading provider of small-scale die-cast model cars and in 2023 its offering of 1:64 models was the most-sold toy around the globe.

Hot Wheels models race across 150 countries and over eight billion of the iconic toys have been sold over the last 50 years.

This new multi-year partnership is a mouth-watering prospect for young F1 fans, and is being kicked off this year with the release of a Hot Wheels 1:64 F1 car, sold with interchangeable tyres.

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In 2025, the partnership will kick up a gear, with select Grand Prix fan activations and retail opportunities.

“This exciting collaboration with Mattel will bring together the adrenaline of motor racing and the excitement of toy cars and provide opportunities to see the fine details that go into an F1 car, all in the palm of your hand,” said F1 Chief Commercial Officer Emily Prazer.

“It’s more than just a partnership; it’s a celebration of speed, creativity and innovation that will bring fans a new way to engage with the sport.”

F1 and Hot Wheels bringing ‘two of the largest global fan communities together’

Roberto Stanichi, Executive Vice President, Hot Wheels & Head of Vehicles and Building Sets at Mattel, added, “Hot Wheels has always been about nurturing the challenger spirit, so the partnership with Formula 1 is a natural and exciting fit.

“It will bring two of the largest global fan communities together to share their passion for cars and racing.

“In collaboration with Formula 1, we have put together a program that allows kids to replicate the thrill of F1 racing where they can drive like the pros and engages with our loyal communities on a global scale.

“Like Hot Wheels, F1 is all about thrill and car performance, and the broad collection we’ve created will take F1 fandom to the next level along with additional consumer touchpoints like digital and retail activations.”

A full range of Hot Wheels models representing all 10 F1 teams will be launched in 2025, with additional products to connect with young fans and adult collectors alike.

This partnership is the latest in a flurry of deals struck by F1 over the last month, following brand sync-ups with LVMH, Lenovo and Santander.

READ MORE: F1 announce 10-year partnership with LVMH