Despite the rejection of Andretti-Cadillac’s bid, it appears that other automobile manufacturers are still interested in entering the world of Formula 1. Andretti-Cadillac’s team has not given up on their dream and has been working diligently to persuade the sport to reconsider their decision. However, Formula 1 is unlikely to change its stance, especially considering that even the President of the FIA has recommended the acquisition of another team. In the midst of all this, Korean carmaker Hyundai is contemplating joining the Formula 1 grid in the near future.
Despite Andretti-Cadillac’s rejection, Hyundai, a company valued at $43 billion, is eager to become part of the Formula 1 grid. Rumor has it that the South Korean company is considering entering Formula 1 by purchasing an existing team already on the grid. It is worth noting that Hyundai’s aspirations align with Formula One Management’s desire for increased Asian involvement in the sport.
Formula 1 and the FIA have been known to strongly oppose the addition of an 11th team to the grid. Numerous individuals have advised Andretti-Cadillac to acquire an existing team, similar to Audi’s partnership with Sauber. Therefore, the only feasible way to introduce another entity into the sport may be through the acquisition of an existing team on the grid. However, it is highly unlikely that any of the current teams will be up for sale.
Hyundai, a South Korean carmaker, is rumored to be considering entering Formula 1 by purchasing a team. Their ambitions align with Formula One Management’s desire for established automakers and increased Asian influence as the sport looks to expand in Asia. Incheon, a city in South Korea, has also expressed interest in hosting a Grand Prix by 2026.
Hyundai’s case appears to be stronger than that of Andretti-Cadillac in recent times. The South Korean company hired former Renault principal in January 2023 and has attracted approximately 25 sponsors to support the team. These factors, combined with the untapped potential of the Asian market in Formula 1, make Hyundai’s case even more compelling.
In addition to Hyundai’s interest, the city of Incheon in South Korea is also eager to expand its involvement in the pinnacle of motorsport. Incheon, Hyundai’s hometown, could potentially host a Grand Prix as early as the 2026 season. However, with the current season already filled with 24 races, the addition of another race would need to provide significant benefits.
Only time will reveal the outcome of Hyundai’s bid in the world of motorsport. The team has a strong foundation in Asia and access to valuable resources. If they decide to acquire a team and join the Formula 1 grid, they are unlikely to encounter significant obstacles. However, it remains to be seen whether these rumors will materialize in the coming weeks.