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Evening Standard
Evening Standard
Sport
Marc Mayo

New F1 team bid confirmed after billionaire’s investment in Hitech

Hitech have confirmed an application to race in Formula One after receiving investment from Kazakhstani billionaire Vladimir Kim.

The mining, banking and aviation magnate is worth a reported £3.6billion and has acquired 25 per cent of the Silverstone-based team, which currently races in several junior single-seater championships.

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