Simplify the following text for a Grade 9 native English-speaking person.
Original: Formula One , abbreviated to F1 , is the highest class of open-wheeled auto racing defined by the FÃ dÃ ration Internationale de l'Automobile ( FIA ) , motorsport 's world governing body .
Simplified: Formula One , abbreviated to F1 , is a form of open-wheeled auto racing . It is the highest class defined by the FÃ dÃ ration Internationale de l'Automobile ( FIA ) , motorsport 's world governing body .