Monday 26th June 2023, Silverstone, UK: Hitech Global Holdings Limited, which owns and operates British single-seater racing team Hitech Grand Prix, has agreed the sale of a 25% interest in the group to Kazakh businessman and motorsport enthusiast Vladimir Kim.
Hitech Grand Prix Limited was founded in 2015 by Oliver Oakes and in less than a decade has established itself as a highly competitive, professional, and well-respected racing operation. Comprised of six race teams which compete at every level of the single-seater pyramid – FIA Formula 2, FIA Formula 3 and FIA Formula 4, as well as being the central operator for the F4 category in the FIA Motorsport Games – it employs over 150 people across its 56,000 sq ft facilities based at Silverstone, UK.
Hitech Grand Prix’s in-house Technologies arm works with OEMs and motorsport teams to provide specialist R&D capability, as well as supporting Hitech’s own eponymous race teams with a level of technical capability rarely seen in junior racing formulae.
In 2023, after 20 months of planning and extensive preparation at its Silverstone base, Hitech made its application for entry into the FIA Formula One World Championship from the 2026 season, a move that would complete its single-seater ladder and demonstrate that Hitech has all the right people, experience and resources to compete alongside the best teams in the world.
Vladimir Kim’s main holdings are in the mining, banking and aviation sectors. In particular, the Kazakhmys and KAZ Minerals Group’s foremost activities are the extraction and processing of copper ore and the refining of other precious metals in the Republic of Kazakhstan, ranking as one of the top 10 copper producers in the world, with exports globally.
As part of an expanded portfolio of business interests including Bank RBK JSC, one of the first private banks in Kazakhstan, and Comlux Group, one of the world leaders in Business Aviation, Transaction and Completion services, Vladimir Kim has for some time been looking to convert his personal interest in motorsport to a strategic partnership with a leading racing team operating on the global stage.
This investment in sport follows a history of sponsoring notable Kazakh athletes, including renowned Olympic and world professional boxing champions like Gennadiy Golovkin and Serik Sapiyev, as well as top-ranked tennis players in both ATP and WTA rankings. Moreover, the Group actively contributes to the advancement of children’s and youth sports by constructing and maintaining tennis and hockey facilities throughout Kazakhstan.
Commenting on the acquisition, Hitech Global Holdings CEO Oliver Oakes said:
“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 ambitions over the years to come.”
Vladimir Kim commented:
“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 appeal, growing exposure, business-to-business marketing opportunities and burgeoning fan base are aligned with my ambitions personally and commercially.”