Hyundai “not interested” in Formula 1 20/10/2010 |
|
| |
| |
Car giant Hyundai has no plans to enter Formula 1 as its home market Korea gets ready to host its first grand prix this weekend.
The event is seen by many as a good opportunity to help transform the image of Korean firms as makers of affordable cars and expand their presence in Europe, where they have a small market share.
There has been speculation that Hyundai Motor Co could signal its intention to join F1 to replace Japan's Toyota and Honda, which have both recently left the sport.
But Hyundai, which includes the country's number two carmaker Kia Motors and has sponsored major sporting events such as the football World Cup and the Olympics, has reportedly played down rumours it is planning to create its own F1 team.
"The grand prix could be a gateway to becoming a premium car brand, but Hyundai is simply not interested in Formula 1," an F1 industry official told Reuters.
"It also requires long-term investment of several years at least and it's doubtful whether Hyundai has that patience."
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
