Formula One and Mattel, Inc. have announced a new global licensing partnership that will bring the excitement of F1 racing to Hot Wheels' iconic 1:64 scale die-cast cars. This collaboration aims to engage both young audiences and adult collectors, combining the thrill of motorsport with the timeless appeal of toy cars.
Partnership Launch:
- The collaboration kicks off in 2024 with a limited edition F1 car featuring a special Hot Wheels racing livery.
- Full range of F1-themed Hot Wheels products to be released in 2025.
Product Details:
- The limited edition car includes interchangeable tires, a full-metal body chassis, and bespoke F1 casting.
- Future products will feature cars from various F1 teams.
- Fan Engagement:
- Hot Wheels brand will be present at select Grand Prix events from 2025 onwards.
- Fan-focused activations and retail opportunities planned at these events.
Market Impact:
- Hot Wheels' Single 1:64 Assortment was the number one selling toy globally in 2023.
- Over 8 billion Hot Wheels cars have been sold in the past 50 years.
Executive Statements:
Emily Prazer, Chief Commercial Officer of F1, emphasized the partnership's focus on speed, creativity, and innovationRoberto Stanichi of Mattel highlighted the alignment between Hot Wheels and F1 in nurturing the "challenger spirit."
The partnership between Hot Wheels and Formula One represents a significant crossover between the worlds of high-performance motorsport and collectible toys. By bringing F1's cutting-edge technology and excitement to Hot Wheels' accessible format, this collaboration has the potential to introduce a new generation to the thrill of Formula One while offering longtime fans a unique way to engage with the sport. As the partnership develops over the coming years, it will likely create new opportunities for fan engagement both on and off the track, further solidifying F1's position as a global entertainment brand.
