There are many categories of motor racing like Single-seated racing, Touring car racing, Production car racing, One-make racing, Stock car racing, Rallying, Targa Racing (Targa Rally),Drag racing, Sports car racing, Off-road racing, Kart racing, Historical racing, etc. The most familiar type of single-seated racing is Formula One. The Formula One series originated from the European Grand Prix Motor Racing of the 1920s and 1930s.
The “formula” is a set of rules which all participants and cars must adhere to. F1 involves an annual World Championship for drivers and constructors involving around 18 races a year. Leading international car and engine manufacturers, and independent constructors, such as Ferrari, McLaren, Williams BMW Sauber, Toyota, Honda, Renault, and Red Bull Racing take part in it. The sport is one of the top five watched sporting events in the world as well as the most expensive sport in the world. Formula One is widely considered to be the grand dame of motorsports.
Formula 1 is different from other forms of open wheel racing, because its basic premise hinges on the crucial idea that each team is a “constructor”. Meaning, the chassis of the car must be designed and manufactured in-house, and chassis cannot be supplied to competitors on a “customer” basis.