Formula 1 hasn’t welcomed a new team to the grid for nearly nine years, but it will do from 2026 when Cadillac enters the sport.
Andretti have hired rival F1 staff for 2026 in a bid to get up to speed as soon as possible and confirmed their name change to Cadillac this week.
New entries are rare in the modern age, with the triple introduction of Virgin, HRT and Lotus in 2010 more of an exception than the rule now.
But we’re seeing a mini resurgence of sorts from manufacturers who are willing to get involved again recently, with both Honda and Toyota returning in some capacity.
Commercially, the sport is the strongest it has ever been, and the F1 teams’ 2024 valuations reflect this with some of the highest numbers ever.
There are multiple reasons behind it, but current owners Liberty Media have been a big factor in helping to improve marketing and attract a whole new fanbase.
Hyundai are not ready to chase Formula 1 opportunity
In an ideal world, the greatest car manufacturers across the planet would all want to compete and contribute to the spectacle of Formula 1.
The idea of Ferrari competing against Lamborghini or Volkswagen against Toyota would be something special to witness.
People believe Audi will do very well with Sauber when they complete their takeover in 2026, and it represents a trend of more interest from major companies.
READ MORE: Why the FIA feared Audi would close their F1 factory before Qatar investment deal
Hyundai, who have a market cap of $37 million (£29 million) are not ready to follow some of their competitors though.
Luc Donckerwolke, Chief Creative Officer of the Hyundai Motor Group told Motorsport.com that they remain focused on their endurance car efforts for now rather than any potential move to F1.
“Obviously, when we discuss about high performance and we discuss a possible participation in motorsport, having people, key people, having certain experience in motorsport and in Formula 1, we obviously have talked about it [F1],” he said.
“But clearly we have decided to go for endurance. The future will tell. But first of all, we have a mission, and the mission is endurance racing. And then let’s meet in some years, and we might then open up, but at the moment, this is really clear. Our mission is endurance.”
Why a Hyundai Formula 1 entry could have worked well
Hyundai aren’t exactly known for their motorsport heritage, but they have begun to make their mark recently.
Ott Tanak claimed his and their first drivers’ title in the World Rally Championship this year, four years on from them claiming their second consecutive Manufacturers’ Championship.
Their operation is now led by none other than former Renault boss Cyril Abiteboul, who famously clashed with Red Bull’s Christian Horner during the 2018 season over the signing of Daniel Ricciardo.
READ MORE: £3bn-valued F1 team already trying to poach staff from failed Renault-Alpine engine project
He led the team to some of their best results in recent times and helped them navigate the tricky COVID-19-affected period where a few teams nearly fell off the grid.
After leaving his post in January 2021 he joined Meccachrome (who make Formula 2 engines) as an advisor before the switch to become team principal of the Hyundai World Rally Team in 2023.
His knowledge of the sport would come in very handy if they were to explore any opportunity, and he has already shown before that he is not a personality who will be pushed around…
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