The iconic Formula 1 (F1) motor racing series has entered into a new global licensing agreement with the Mattel US-based toy heavyweight and its Hot Wheels brand.

Through a multi-year deal unveiled today, a limited-edition Hot Wheels die-cast car is being launched, while a full range of products will go live in 2025.

That range will feature cars from F1 teams and products “designed to connect with F1’s growing young audience.”

In addition to these product releases, the partnership will be activated at Grands Prix races in 2025 and beyond, through fan-focused events and retail opportunities.

In terms of F1 commercial activity, last week the series announced a major new sponsorship deal with French luxury goods conglomerate LVMH.

The 10-year deal, running from 2025 through the end of the 2034 F1 campaign, will see several LVMH brands receive prominent exposure across F1 activities, most notably watch giant Tag Heuer, spirits company Moët Hennessy, and major fashion label Louis Vuitton.

Although LVMH has not released any details about the partnership, rumors in September from US publication Bloomberg suggested that the deal could be worth as much as $150 million per year.

A licensing deal with toy giant Lego Group was also disclosed in late September.

Over the years, Hot Wheels and Mattel have been commercially involved with multiple teams and properties from across the motorsport world.