South Korean tire manufacturer Hankook Tires have officially entered the race to become Formula One’s next tire supplier going up against Pirelli for the tire contract from 2020 -23.

Hankook have plenty of experience in motorsport as they supply the DTM and the European FIA F3 Championship.

The next stage in the tendor process will see the Liberty Media begin financial negotiations with Hankook and Pirelli to see who would be best placed to supply Formula One.

Italian tire manufacturer Pirelli have been the sole supplier to Formula One having taken over from Bridgestone in 2011.

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