Hankook has taken further steps in their bid to become Formula 1 tyre supplier from 2020.

The South Korean company is the only competition for Pirelli over the new contract having passed the initial FIA feasibility study, covering safety and technical aspects.

Now though, Germany's Auto Motor und Sport claim the continuing development has seen Hankook purchase a modified Formula 2 car and a 2011 V8-powered Williams to conduct testing.

Former Bridgestone chief Hirohide Hamashima is also consulting with the manufacturer and a current Formula E test driver is believed to be behind the wheel.

F1's governing body is reported to be very impressed by Hankook's facilities back in South Korea as they look to expand on their current tyre supply deals with DTM and European F3.

How long the final process will take before the FIA make a decision is unknown with Pirelli motorsport boss Mario Isola asked for an update in Sochi.

"Now there is the commercial discussion with F1," he said. "There is no deadline for that so I cannot tell you how long it will last."