Hyundai Expected To Join Formula 1 After Audi Enters Motorsports

South Korean automotive giant Hyundai is apparently interested in entering Formula 1 by acquiring an existing team. Hyundai, known for its successful presence in the World Rally Championship (WRC) appears keen to expand in motorsport. Under the leadership of former Renault F1 Team Principal Cyril Abiteboul, Hyundai has achieved notable success in the WRC, securing manufacturers' championship titles in 2019 and 2020.

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F1 journalist Joe Saward reports that Hyundai is contemplating entering Formula 1 by purchasing an existing team. However, this ambition poses a major obstacle as there are currently no F1 teams available for sale, complicating Hyundai's immediate entry into the sport. Despite this, Hyundai's interest in joining F1 could receive positive attention from Formula One Management, particularly when compared to other potential newcomers.

A potential challenge for Hyundai is the necessity to adopt a power unit from an established manufacturer if they enter Formula 1 soon. This situation isn't new in F1, as demonstrated by the collaborations between Honda and Aston Martin. For Hyundai, forging a similar partnership with an existing OEM could be a feasible approach. Formula One Management generally favours the entry of well-established car manufacturers into the sport. 

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Hyundai’s possible entry into F1 aligns with the sport’s efforts to broaden its presence in Asia. As the world’s fourth-largest auto manufacturer, Hyundai could greatly increase F1’s visibility in the region. Additionally, South Korea is expressing interest in hosting a Grand Prix in Incheon, which could further support Hyundai’s bid to join the F1 grid.