The Hitech Grand Prix team has confirmed its application to enter Formula 1 in 2026 after announcing a new shareholder partnership.
The news comes after RacingNews365.com previously revealed in March that plans regarding Hitech GP's potential F1 project were in the making.
Silverstone-based squad Hitech – which currently competes across each category of the single-seater pyramid with cars in F2, F3 and F4 – has bid to join the top category following what has been described as "20 months of planning and extensive preparation".
This news was revealed alongside the announcement that Kazakh businessman Vladimir Kim has acquired a 25% interest in Hitech Global Holdings Limited. Motorsport enthusiast Kim's main holdings are in the mining, banking and aviation sectors.
Hitech Global Holdings CEO Oliver Oakes said of the partnership: "I am delighted to welcome Vladimir Kim to the Hitech group.
"During our discussions we found many natural synergies and I know that his support will be invaluable as we seek to build on Hitech's success and work towards achieving its broader achievements over the years to come."