F1 has extended its funding commitment to its engineering scholarship programme until 2025 as the sport continues its push to increase diversity.
F1 launched its scholarship programme last year with non-executive chairman Chase Carey donating $1 million.
The programme has so far supported 10 students that have begun undergraduate and postgraduate engineering degrees at universities in the UK and Italy with the scholarship covering the full cost of tuition as well as living expenses.
Tuesday's announcement represents a four-year extension to F1's commitment taking it up to 2025.
“We are committed to increasing diversity and opportunity within this incredible sport and I am pleased to confirm that we will be expanding our programme for scholars until 2025, providing fantastic opportunity for some incredibly talented students to begin their journeys with Formula 1," said F1 CEO Stefano Domenicali.
"We want to continue to ensure that talent from underrepresented groups has meaningful opportunities, with the first ten scholars already beginning their studies following Chase’s incredible donation to fund the scholars in their first year.
"We want to continue and build on the foundations of the programme in the years ahead."
Further to the extension of its scholarship programme, F1 has also committed to "creating employment opportunities by offering apprenticeships and internships across the business".
For this, the sport will work with the Black Collective of Media in Sport [BCOMS], a leading group for black professionals in the media, and The Blair Project, who are inspiring the next generation of engineers from disadvantaged socio-economic backgrounds.