F1 Rumor: Competition For Andretti? Another Automotive Giant Wants In To Formula One

South Korean automotive giant Hyundai is reportedly considering a decisive leap into the Formula One paddock. Formula 1 journalist Joe Saward, as reported by Motorsport Week, has revealed that Hyundai is exploring options to enter the F1 circuit by possibly acquiring an existing team.

Hyundai is no stranger to global motorsports, boasting significant success in the World Rally Championship (WRC) where it clinched the manufacturers' title in 2019 and 2020 under the management of Cyril Abiteboul, formerly of Renault F1. Hyundai's proficiency in WRC, pivoting around the high-performance Hyundai i20N introduced in 2014, establishes a firm foundation for their potential F1 foray.

The entry process into Formula 1 for a new manufacturer like Hyundai presents various hurdles. The current market scenario does not openly offer any F1 teams for sale, positioning Hyundai's potential entry as a complex maneuver requiring either the acquisition of an existing team or a profound partnership, akin to the collaborative efforts seen between Honda and Aston Martin or Red Bull and Ford.

The brand previously flirted with the idea of entering Formula 1 during the years when the South Korean Grand Prix was part of the F1 calendar (2010-2013). However, a concurrent bribery scandal quelled those ambitions. Looking further ahead, the potential of hosting a Grand Prix in Incheon and leveraging F1's expanding footprint in Asia could revive and bolster Hyundai’s global branding strategies through the high-visibility platform of Formula 1.

This also comes amidst the ongoing bid from Andretti Global to join the F1 grid in 2026. Although the FIA approved the American team's bid in October 2023, FOM rejected the application earlier this year, although they left the door open for a reconsideration for the 2028 season. This has not stopped Andretti though, they are still pushing for a 2026 start and have recently opened a Silverstone UK HQ.