Filed under: Motorsports, Hyundai
Hyundai to enter F1 in 2010
When the inaugural Korean Grand Prix begins in 2010, natives may have a local team to get behind. Hyundai has announced their plans to enter the world of Formula One in the 2010 season.Hyundai, who originally planned to purchase an existing team, may forgo that option and partner with electronics maker Samsung to finance the team. Talks are currently underway between the automaker and Bernie Ecclestone to secure a place on the grid.
The news is partnered with rumors that Hyundai may re-enter the world of rallying, and that, coupled with the technological developments inherit with F1, should make the automaker a more viable player on the world stage.
[Source: Eurosport]
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Reader Comments (Page 1 of 1)
$0.02 8:56AM (10/23/2006)
A Hyundai/Samsung partnership is a monster and would definitely experience the challenges that face any new entrant into F1, but they should not be taken lightly. Anyone who remembers early Hyundais and has driven the recent Santa Fe or Azera knows that if Hyundai can shake up the industry in such a short time they can certainly pull this off. Don't underestimate this company. If partnered with Samsung these two Korean powerhouses who control nearly a quarter TRILLION dollars in annual revenues will surely be competitive.
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amp 9:26AM (10/23/2006)
Performance in the consumer car market is no indication of success in F1. Look at Toyota, they're the hottest automaker in the world, yet they can't even crack the top five in F1, despite having the largest budget. I wish Hyundai the best, but F1 is a different animal then what they're used to.
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Stephen 9:29AM (10/23/2006)
Dear Two Cents:
Budget isn't everything. Renault has about half the budget of Toyota, which everybody said would take over F1 with its monster budget, but has managed to win two consecutive championships. A bigger factor is an excellent team management that can guide a team in the proper direction.
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Vinny 10:11AM (10/23/2006)
You're right Amp. But I would question, Toyota has the "largest budget"? I think that would be Ferrari. Still you're point is dead on.
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emulous1974 11:20AM (10/23/2006)
I am by no means experienced in F1 racing, being the first and only time I've seen an F1 race was this year in Indianapolis. So I can't speak of the competiveness in F1, but this speaks a lot about Hyundai in general and the strides they are taking in moving up market and building much better products. While racing costs a hell of a lot of money, the marketing and technology resources if used well, can greatly help the every day money maker cars they produce and here Hyundai can learn and apply a lot. I for one am glad to see them enter and wish them the best.
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gkz 11:21AM (10/23/2006)
Vinny -
Toyota has the largest budget by a significant margin.
Starting a new F1 program is an enormous undertaking, and to expect immediate results would be stupid. However, as history shows, F1 racing is a cyclical business, and i'm sure Hyundai/Samsung could be successful evenutally if they're truly committed. Same goes for Toyota; it's still too soon to pass judgement on their efforts.
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TalD 11:41AM (10/23/2006)
I certainly do not pretend to know much about F1 racing but I must agree with #1 $0.02.
If any car maker can pull a feat such as this off; go from no F1 entries to one in such a short period, then Hyundai may be the one.
Hyundai has learned extremely well from the Japanese auto makers and more than likely more advanced at this particular point in time of their sales history in the US than the Japanese were at their same point in time so many years ago.
The Japanese did have to blaze the trail by over coming many issues but they listened to the American consumer and we are the benefactors of their persistence to stive for quality autos.
No matter how they fare in F1 competition(if they follow through) it will only make for better competition and ,hopefull, better inovations in regular production "family" vehicles.
As consumers, we can only benefit and I do not believe any auto maker team has anything to lose but a race.
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auto specifications 12:03PM (10/23/2006)
I doubt Hyundai will get any results in Formula One. In WRC they didn't made big deal. So why will do in Formula One ?
http://www.auto-power-girl.com/
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James 12:05PM (10/23/2006)
I'm excited to hear Hyundai may re-enter Rally Sport! I was a huge fan of the HyundaiUSA Rally Team (5-Time National Champs before the budget got axed). Hyundai learned a lot during it's Rally years and allowed that knowledge to be shared within the company.
James
http://www.CarTV.com
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Jaimie B 12:34PM (10/23/2006)
Sure Toyota has the biggest budget and sure they spent about a billion so far. But most of these costs are startup costs. They literally had to start from scratch, of course they're going to have to spend a bundle. They're no different from any other company starting up.
YOu guys make it sound like Toyota failed at F1 when they've only been in it for what 4 years(?) Heck Ferrari's been in F1 forever and only recently had been winning on a consistent basis. How much you think they spent on F1 since they first joined. I bet you it's a lot more than Toyota.
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Dre 12:40PM (10/23/2006)
To all those that claim Toyota has the largest budget, you are wrong... That claim goes to Mclaren-Mercedes, which is then followed by Toyota (who incedentally also have two of the higest paid drivers) and VERY VERY closely behind them by Honda/Ferarri
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Rocket Punch 1:29PM (10/23/2006)
That GREAT news for the Auguri and the Super Friends! P19 & P20 here I come BABY!
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F1insider 2:29PM (10/23/2006)
Vinny, Ferrari does not have the largest budget in F1. Toyota's annual operating F1 budget is well over $600,000,000. McLaren comes next and Ferrari's budget is estimated around $350. Renault is the most efficient team if you take into consideration budget over performance.
In the past people who didn't quite understand F1 used to complain about Ferrari's budget when the Italian manufacturer had to design, develop and build their own engine, unlike the other manufacturers. That's where the common misperception of Ferrari having the largest budget originated. However, today the likes of Toyota, Honda, Renault and most recently BMW have to build the entire car in-house, which has inflated the average team budget.
It can be argued that Ferrari has the most efficient F1 operation if you look at the overall application of their budget, not just in the racing formula but also in their road car program. No F1 entrant has ever applied anywhere near as many technologies into road cars as has Ferrari. So even with a bigger budget than Renault, Ferrari's balance sheet may be more justified than anyone else.
Carlos Ghosn is well aware of this and as a bean-counter, he can't stand his wasted dollars, despite the wins and titles. That's why he's been calling for more integration of F1 technology into Renault's commercial vehicles.
As a final note, it would be nice if people actually did a bit of research before spitting out opinions, especially ones that try to correct statement made by others (which were originally correct).
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Chris 6:56PM (10/23/2006)
Rocket Punch, the Aguri cars are already getting a lot faster, they will probably be consistent top 15 or so places next year, especially with Anthony Davidson in the second car. They were already doing faster laps than over half the field at the Brazilian GP. Plus from 2008 and onwards they can use Honda's cars instead of having to make their own (unlike the two Red Bull teams...) so that'll make them faster still.
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dt 10:50PM (10/23/2006)
Jaimie B:
Toyota is clearly the most disappointing team in F1 today, and I think their own board would be the first to admit to it. They came in buying the best technology and expertise available, they spend money like water -- several billion-with-a-b dollars in the last 6 years -- and they still suck. Arch-rival Honda and especially Renault have had more success on smaller (but still immense) budgets, not to mention traditional powers like Ferrari (who despite lean years have been in the game since postwar GP racing started in 1950 and have been largely successful for most of that time) and McLaren.
Hyundai will have to be a bit more clever than saturation bombing with $$$$. But having said that, I hope they realize the scale of investment they're in for. Toyota has shown that money can't buy everything, but the fact is you need a good quarter-billion dollars a year over several years over and above the initial startup, and you need to ask if this is a good way to spend your advertising and R&D money. F1 is expensive.
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