Mercedes has a storied history in motorsport, dating back to the 1950s when they dominated with legendary driver Juan Manuel Fangio. After a hiatus from the sport, Mercedes returned as a full factory team in 2010, and by 2014, they emerged as the dominant force in Formula 1 during the hybrid engine era. Mercedes’ dominance peaked between 2014 and 2020, when they won seven consecutive Constructors' and Drivers' Championships, making them one of the most successful teams in F1 history. Much of this success was due to the driver-engineering combination of Lewis Hamilton and their unparalleled hybrid power unit. In recent years, Mercedes has faced stronger competition from Red Bull Racing and Ferrari. Despite the changes in regulations in 2022, Mercedes continued to remain competitive but faced a challenging 2022 and 2023, marked by development struggles. They are now focused on returning to championship contention in 2024 with new developments and strategies.