Formula 1 announces new multi-year partnership with Hot Wheels

Formula 1 and Mattel, Inc. have revealed a new global licensing partnership that will involve the creation of F1-themed Hot Wheels products to bring the thrill of racing to 1:64 scale.

The partnership will kick off this year with the release of a one-of-a-kind F1 car, before the full Hot Wheels range – featuring teams’ cars and products to cater for both the sport’s growing young audience and adult collectors – is released in 2025.

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The limited edition die-cast car, launched today on Mattel Creations, has a special Hot Wheels racing livery, including their iconic number ‘68’ on the nose, and includes interchangeable tyres, full-metal body chassis and bespoke F1 casting.

F1 will also welcome the Hot Wheels brand to Grands Prix, with fan-focused activations and retail opportunities that bring families together and celebrate the partnership at select events across the 2025 season and beyond.

Available in more than 150 countries, Hot Wheels’ Single 1:64 Assortment was – according to American market research and technology company Circana – the number one item sold across all toys globally in 2023, while more than eight billion of the iconic cars have been sold over half a century.

“This exciting collaboration with Mattel 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,” said Emily Prazer, Chief Commercial Officer of F1.

“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.”

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Roberto Stanichi, Executive Vice President of Hot Wheels, and Head of Vehicles and Building Sets at Mattel, added: “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.

“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.”