Mattel has struck new deals with Saudi Entertainment Ventures (SEVEN) and the Formula 1 car-racing league to deliver more Hot Wheels-branded experiences and consumer products next year. 

The toyco’s first partnership with F1 is a multi-year agreement that will see it manufacture and distribute a full range of Hot Wheels vehicles and tracks worldwide next year, replicating the intense speeds found on the raceway. The company is offering a taste of what’s to come to racing fans later this week with the launch of a limited-edition F1 die-cast metal car on its e-commerce platform Mattel Creations (pictured). 

F1 will also develop a range of experiences and retail opportunities for the Hot Wheels brand at select Grand Prix events throughout the 2025 season in order to engage and grow the league’s younger fan base. This deal mimics many of the elements featured in F1’s recent licensing agreement with LEGO, which was signed last month.

Meanwhile, SEVEN is collaborating with Mattel to develop six new Hot Wheels Electric Karting tracks at family entertainment centers in Riyadh, Makkah, Taif, Al Madinah, Tabuk and Jazan. These indoor go-kart attractions for kids and families are inspired by the toyco’s Hot Wheels City Experience in Sao Paulo, Brazil, featuring a multi-level race track and attached retail outlet where guests can purchase Hot Wheels toys and merchandise. 

SEVEN is backed by Saudi Arabia’s Public Investment Fund, which manages an estimated US$925 billion in assets. The location-based entertainment company’s goal is to invest US$13 billion into building, developing and operating 21 themed entertainment destinations across the kingdom leveraging high-value brands including Dragon Ball, Transformers and Six Flags.