Mattel’s Hot Wheels Zooms Into Formula 1 (F1) Global Partnership 

Eyeing the next generation of racing fans, Mattel’s famous Hot Wheels is all poised to collaborate with Formula 1 (F1) in its latest deal.  

This landmark deal fuses the adrenaline rush of F1 with the timeless appeal of Hot Wheels, creating a unique and engaging experience for all petrolheads.

The collaboration will kick off this year with the release of a limited edition F1 car, designed to capture the essence of the sport. This exclusive model will set the stage for a range of Hot Wheels F1 products to be introduced in 2025, including track sets, playsets, and die-cast models featuring the world’s most iconic F1 cars and drivers.

Following the deal, Emily Prazer, Chief Commercial Officer of Formula 1, stated,  “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. 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.”

Roberto Stanichi, Executive Vice President, Hot Wheels & 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 engage with our loyal communities on a global scale. Like Hot Wheels, F1 is all about the 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.”

In the recent quarter, F1 has been on a global partnership spree; securing deals with likes of LVMH and Lego Group. According to ASN data, the Motorsports/Formula 1 has a 8.2% share in the Asian sponsorship market, seeing investment of almost US$988.9m since Q122, cementing its position as the 2^nd most popular backed sport. In terms of quarterly average investment, it sees a sum of US$83.8m during this period, and the forecast of US$84.7m for Q424 is right on track to match the average.