Formula One, commonly known as
Formula 1 or
F1, is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The FIA Formula One World Championship has been one of the world's premier forms of racing since its inaugural running in 1950. The word
formula in the name refers to the set of rules all participants' cars must follow. A Formula One season consists of a series of races, known as
Grands Prix. Grands Prix take place in multiple countries and continents on either purpose-built circuits or closed roads.