BYD Wants To Try Its Hands On Formula 1 Racing

Formula 1 is now more popular than ever, and many of the world’s major car manufacturers are looking to get in on the action. The latest in line is China’s BYD, the world’s largest electric vehicle manufacturer.

This year has seen Ford return to Formula 1 with a powertrain deal with Red Bull Racing, Audi now has a works team, General Motors enters the sport with Cadillac, and Toyota Gazoo Racing partners with Haas. BYD is reportedly interested in entering the sport in part because of its increased focus on electric power in the new era of 1.6-liter turbo-hybrid engines.

Bloomberg has learned that BYD is considering entering various forms of motorsport, including the World Endurance Championship and Formula 1. Unnamed sources claim that the Chinese company could do so by establishing its own team or acquiring an existing one.

However, forming an entirely new F1 team would be extremely difficult for BYD. It took Andretti years to convince stakeholders in the sport that he deserved two starting spots, and he only did so by pulling out of the project, handing control over to parent company TWG Motorsports, and securing General Motors as a partner.

An easier option for BYD would be to buy an existing team. That’s how Audi managed to enter the sport this year, buying 100 percent of the Sauber F1 team in a deal thought to be worth around €600 million. BYD could do this with another team, perhaps Alpine, which is actively seeking investors, but it would also have to be prepared to pay upwards of €500 million per season to run the team.

FIA President Mohammed Ben Sulayem has expressed openness to a Chinese company entering the sport. He said early last year that, given that the US competes in F1 through the Cadillac and Haas teams, “the next step is to welcome a Chinese manufacturer.”

If BYD were to enter this sport, it would inevitably view it as vital marketing to increase its global presence.

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