The 25% of interests in Hitech Global Holdings Limited will be purchased by Vladimir Kim. The news was announced on Monday, 26 June 2023.
The UK-based company owns Hitech Grand Prix, a team established in 2015 from the mind of its current CEO Oliver Oakes, which competes in Formula 2, Formula 3, Formula 4 and FIA Motorsport Games F4.
Mr. Kim, on the other hand, a Kazakh entrepreneur with a passion for motorsport and ready to invest in the field, is best known for his investments in natural resources, particularly copper. However, he is no stranger to sports, having invested in the future of Kazakh athletes and sport among young people.
A solid strategic move in anticipation of a possible future entry into Formula 1, a missing piece in the company’s list of single-seaters. Hitech, which plans to enter the pinnacle of motorsport in 2026 if they can be granted a spor, is known for its extensive research and development programme, to implement the technology used within the categories it is a part of.
The new investor commented on his entry into the Hitech Group by explaining:
“Motorsport has been a long-standing personal interest for me, and I am delighted to be entering into a partnership with an organisation that has enjoyed success in so many categories and has such ambitions for its future.”
“We have an established involvement with sport; however, this is our first global investment in motorsport. Its dynamic appleal, growing exposure, business-to-business marketing opportunities and burgeoning fan base are aligned with my ambitions personally and commercially”
Oliver Oakes, CEO, added:
“I am delighted to welcome Vladimir Kim to the Hitech group. During our discussions we found many naturals 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 ambitions over the years to come.”
Photo Credit: @HitechGP
