Minichamps 1:43 Formula One: Red Bull Racing, Tag Heuer RB12, Austrian Grand Prix 2016

Formula One (also known as Formula 1 or F1) is the highest class of international auto racing for single-seater racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The series is owned by Liberty Media, an American mass media company controlled by its founder and chairman John C. Malone, through its wholly owned subsidiary, the Formula One Group. The World Drivers' Championship, which became the FIA Formula One World Championship in 1981, has been one of the premier forms of racing around the world since its inaugural season in 1950. The word formula in the name refers to the set of rules to which all participants' cars must conform. A Formula One season consists of a series of races, known as Grands Prix (French for 'grand prizes' or 'great prizes'), which take place worldwide on purpose-built circuits and on closed public roads.

The results of each race are evaluated using a points system to determine two annual World Championships: one for drivers, the other for constructors. Each driver must hold a valid Super Licence, the highest class of racing licence issued by the FIA. The races must run on tracks graded "1" (formerly "A"), the highest grade-rating issued by the FIA. Most events occur in rural locations on purpose-built tracks, but several events take place on city streets.

Formula One cars are the fastest regulated road-course racing cars in the world, owing to very high cornering speeds achieved through the generation of large amounts of aerodynamic downforce. The cars underwent major changes in 2017, allowing wider front and rear wings, and wider tyres, resulting in peak cornering forces near 6.5 lateral g and top speeds of up to approximately 360 km/h (225 mph). As of 2019 the hybrid engines are limited in performance to a maximum of 15,000 rpm; the cars are very dependent on electronics and aerodynamics, suspension and tyres. Traction control and other driving aids have been banned since 2008.

Red Bull Racing, also simply known as Red Bull, or RBR, is a Formula One racing team, racing a Honda powered car under an Austrian licence and based in the United Kingdom. The team raced under a British licence from 2005 to 2006 and has raced under an Austrian licence since 2007. It is one of two Formula One teams owned by beverage company Red Bull GmbH; the other being Scuderia AlphaTauri (previously Scuderia Toro Rosso). The team has been managed by Christian Horner since its formation in 2005.

Red Bull had Cosworth engines in 2005 and Ferrari engines in 2006. The team used engines supplied by Renault between 2007 and 2018 (from 2016 to 2018, the Renault engine was re-badged "TAG Heuer" following the breakdown in the relationship between Red Bull and Renault in 2015). During this partnership, they won four successive Drivers' and Constructors' Championship titles from 2010 to 2013, becoming the first Austrian team to win the title. The team began using Honda engines in 2019.