A possible entry of a major Chinese car manufacturer into Formula 1 seems to be getting closer. BYD, now the largest seller of electric cars worldwide, has confirmed that it is holding talks with the Formula 1 organization about a possible involvement in the sport.
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The confirmation comes from Stella Li, vice president of BYD, who addressed the company’s interest in the premier class of motorsport during the Beijing Auto Show. According to Li, there has already been direct contact with F1 CEO Stefano Domenicali. “We met Stefano Domenicali at the Grand Prix in Shanghai,” she stated. “We maintain a warm relationship and are regularly in contact with each other.”
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BYD is growing rapidly and recently surpassed rival Tesla as the world’s largest producer of electric vehicles. The brand had previously held talks with Formula E, but Formula 1 is now also prominently in the picture.
‘We are talking about it’
According to Li, Formula 1 fits well with BYD’s ambitions, both technologically and in terms of image. “I love Formula 1 because it’s about passion and culture, and because people dream of becoming Formula 1 drivers,” she says. When asked if future participation by BYD is realistic, Li answers without hesitation: “Yes, we are talking about it. It’s a real opportunity to test our technology.”
It is currently unclear in what capacity BYD might want to enter. Whether it involves the establishment of an entirely new team, a collaboration or acquisition with an existing F1 team, or a role as an engine or technology partner, has not been disclosed. However, the discussions align with earlier statements by FIA President Mohammed Ben Sulayem, who has openly indicated that he would welcome a twelfth team in Formula 1, preferably with a Chinese background.
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