Designed to complement the Telegraph's Formula One news coverage, the app features video content, live race information, driver biographies and Twitter feeds.
TMG said the app is a one-stop-shop for F1 enthusiasts and will provide users with up-to-the-minute Telegraph motor racing news on their mobiles.
The paid for app will join the range of free iPhone, BlackBerry and Android apps TMG already offers covering news, business, travel, technology, sport, motoring and Telegraph TV.
The Telegraph will be up against competition in the BBC which is also hosting mobile coverage of the Grand Prix, featuring video clips and live text commentary via the BBC mobile site.
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