- The increased reliance on electrical power in F1 power units is appealing to BYD.
- BYD could become the first major Chinese car manufacturer to enter the top form of motorsport.
- The brand’s best option would probably be to purchase an existing F1 team.
Formula One is more popular now than it’s ever been before, and many of the world’s most important car manufacturers want to get in on the action. The latest? BYD, China’s biggest car manufacturer and the world’s largest producer of EVs.
Already this year, we have seen Ford return to F1 through its powertrain deal with Red Bull Racing, Audi fielding a full-factory team, GM entering the sport with Cadillac, and Toyota Gazoo Racing partnering with Haas. BYD is said to be interested in entering the sport in part due to the increased focus on electric power in the updated 1.6-liter turbo-hybrid era.
Read: A Chinese Brand Just Knocked Ford Out Of The Global Top Six
Bloomberg understands that the car manufacturer is considering entering various forms of motorsport, including the World Endurance Championship and Formula One. Unnamed sources claim the Chinese company may do so by starting its own team or by acquiring an existing outfit.
How Could It Happen?
Forming and fielding an all-new F1 team would be extremely difficult for BYD. It took Andretti years to convince the sport’s stakeholders that it deserved two places on the grid, and it only did so by stepping back from the project, handing over the reins to parent company TWG Motorsports, and securing General Motors as a partner.
The easier option for BYD would be to buy an existing team. This is how Audi managed to enter the sport this year, purchasing 100 percent of the Sauber F1 team in a deal thought to have been valued at around €600 million ($697 million). BYD may be able to do this with another team, perhaps Alpine, which is actively seeking investors, but would also need to be willing to pay upwards of $500 million per season to run a team.
FIA president Mohammed Ben Sulayem has expressed an openness for a Chinese company to enter the sport. Early last year, he said that with the US competing in F1 through the Cadillac and Haas teams, “the next step is to welcome a Chinese manufacturer.” Were BYD to enter the sport, it would inevitably view it as a vital marketing exercise to grow its global presence.
