Formula One, abbreviated to F1 and also known as Grand Prix racing, is the highest level of motor racing in the world today.

The cars race at high speeds, often more than 300kmh.

Millions of people watch it on television in 200 countries. It is also the most expensive sport in the world, as annual team budgets average hundreds of millions.

The 'formula' in the name is a set of rules which all participants and cars must meet to ensure that speeds stay within safe ranges.

The F1 world championship is held on purpose-built circuits and, in a few cases, on closed city streets.

This season's championship consists of 17 races in 17 different countries, with 11 teams taking part. Each team field two cars. The results of each race are combined to determine two annual World Championships, one for drivers and one for constructors.

The first Formula One race was held in 1947.