For the second time this year, rumors of Hyundai Motor Company entering Formula 1 (F1) have set the motorsport world abuzz — and for the second time, the Korean media outlet that published the information, this time was MK.co.kr, has taken down the article after a few hours.
Hyundai’s First Step into Formula 1
On August 14, industry insiders revealed that a senior Hyundai executive confirmed plans to join the F1 grid next year, marking the company’s debut on the world’s most prestigious racing platform. Formula 1, organized by the FIA (International Automobile Federation), is renowned as the ultimate showcase for cutting-edge automotive innovation, with teams like Ferrari, Mercedes, and Red Bull Racing dominating the circuit.
Hyundai is no stranger to high-performance motorsport. The company has already established the Genesis Magma Racing (GMR) team to compete in the 24 Hours of Le Mans endurance race in France. The upcoming F1 challenge will build upon the technology and experience gained from these efforts.
Developing an In-House Formula 1 Power Unit
Perhaps the most ambitious aspect of Hyundai’s F1 entry is the decision to develop its own power unit — a complex system that goes far beyond a standard engine, incorporating hybrid systems and energy recovery technologies. Currently, only a select few manufacturers — including Mercedes-Benz, Ferrari, Renault, and Honda — have the capability to produce F1 power units in-house.
By joining this elite group, Hyundai signals a major advancement in its engine technology and high-performance engineering capabilities. The company has been heavily investing in next-generation hybrid systems and high-performance powertrains, with research and development spending reaching into the trillions of won.
A screenshot of the article, translated into English, before being deleted
A Hyundai official stated:
“Although the development of a race car requires trillions of won, we made this astronomical investment to position Genesis as a truly global luxury brand.”
High Stakes and Industry Impact
The challenges are formidable. In the past, major automakers such as Honda, Toyota, and BMW have withdrawn from F1 due to unsatisfactory results or escalating costs. Despite these risks, Hyundai is committed to a sustainable motorsports strategy, aiming not only to advance engine technology but to strengthen the entire motorsports ecosystem.
Industry experts believe Hyundai’s Formula 1 debut could be a turning point, boosting the company’s global technological competitiveness and elevating the prestige of the Genesis brand worldwide.
Official Statement: Hyundai Remains Cautious
Despite growing speculation, Hyundai Motor Company has yet to formally confirm the F1 entry. A spokesperson commented:
“I have no knowledge regarding entering F1.”