Formula 1 and Hot Wheels Announce New Partnership

Formula 1 and Hot Wheels on Wednesday announced a multi-year global licensing partnership that will bring the thrill of racing to 1:64 scale. The collaboration, set to kick off this year, will involve the creation of F1-themed Hot Wheels products, starting with the release of a limited-edition F1 car. Other range of products including track sets, playsets, and die-cast models, are set to be released in 2025.

The partnership between the leading global toy company and the most popular motorsports program in the world comes at a time of incredible popularity and booming cultural appeal for Formula One. Just last week, the motorsport company inked a decade-long partnership with French luxury goods company, LVMH. F1’s latest collab is part of an effort to further entice its younger, more diverse fans.

Speed, Creativity, and Innovation Collide

“The exciting collaboration will bring together the adrenaline of motor racing and the excitement of toy cars and provide opportunities to see the fine details that go into an F1 car, all in the palm of your hand,” Emily Prazer, Chief Commercial Officer of Formula 1, said. “It’s more than just a partnership; it’s a celebration of speed, creativity and innovation that will bring fans a new way to engage with the sport.”

Now available on Mattel Creations—owner of Hot Wheels—the limited edition toy racecar features a bespoke F1 casting design and includes Hot Wheelsʼ unique racing livery and their iconic number ‘68’.

It also boasts a full-metal body chassis and interchangeable tires. The car is priced at $25 USD and is not expected to ship until June 27, 2025.

“Hot Wheels has always been about nurturing the challenger spirit, so the partnership with Formula 1 is a natural and exciting fit. It will bring two of the largest global fan communities together, to share their passion for cars and racing,” Roberto Stanichi, Executive Vice President of Hot Wheels & head of vehicles and building sets at Mattel, said. “In collaboration with Formula 1, we have put together a program that allows kids to replicate the thrill of F1 racing where they can drive like the pros and engages with our loyal communities on a global scale. Like Hot Wheels, F1 is all about thrill and car performance, and the broad collection we’ve created will take F1 fandom to the next level along with additional consumer touchpoints like digital and retail activations.”