Formula 1 is currently working on forming an all-new racing category, open exclusively for female drivers to provide them with a pathway to top-level racing.
The news comes amid uncertainty regarding the W Series, which had to end its 2022 season early due to financial issues.
W Series formed in 2019 but cancelled its 2020 campaign due to Covid-19 – it returned in 2021, and ran seven rounds this year before its cancellation earlier this month.
BBC Sport reports that the new F1-backed female-focused series could be up and running as early as 2023.
Lewis Hamilton was recently critical of F1 for not stepping in to help W Series amid its period of difficulty.
“There has not been enough focus on women in sport, the whole of Formula 1’s life, and there’s not enough emphasis on it now,” Hamilton said.
“And they’re not magnifying enough the great work that is being done there. There is not enough representation across the board, within the industry.
“And there’s not really a pathway for those young, amazing drivers to even get to Formula 1, and then you have some people who say we’re never going to see a female F1 driver ever. So that’s not a good narrative to be putting out.
“So I think we need to be doing more, and with the organisation, with Formula 1 and Liberty doing so well it’s not a lot for them to be able to help out in that space.
“In the work I’m trying to do with Mercedes for example, we’re trying to get like 8000 young girls into the sport – but every team should be doing that.”
The BBC Sport report states that financial backing will be in place for the series, and that there will be 12-15 seats available for women aged 16 and older.