This is the Red Bull Ring. Here is a little bit of history and a recap of what happened last year on July 3, 2016.
Red Bull Ring has a long history, dating back to 1970. This track hosted 18 consecutive Gran Prix races under the name Österreichring, from 1970 to 1987. After that, it was shortened, named A1 ring and it hosted Austrian GP from 1997 to 2003.
A1 ring was after that no longer suited for F1 events, and needed to be renovated and extended. The construction began where the pits and grandstands were demolished, but the construction stopped and the track was unusable until it was purchased by Red Bull's Dietrich Mateschitz. The track was renamed Red Bull Ring and reopened in 2011. It hosted a number of events including DTM and Formula 2 races. F1 returned to Austria in 2014.
Last year on July 3, the race was full of surprises. See the race edit below, pretty crazy race.