Reports say BYD will enter F1 and other top-tier motorsport events, either by building their own team or acquiring an existing one.

IT Home, March 11 — Last night, according to Bloomberg, citing sources familiar with the matter, BYD is evaluating entry into top-tier motorsport events such as Formula 1 and endurance racing, aiming to enhance its global brand influence.

As overseas sales grow rapidly and racing sports gradually shift toward hybrid powertrains, BYD is exploring multiple participation options.

These include the World Endurance Championship (IT Home note: the 24 Hours of Le Mans is part of this series) and Formula 1. Entry into F1 could involve building its own team or acquiring an existing team.

▲ Looking up at U9 Xtreme

If BYD ultimately joins F1, it would be a rare Chinese automaker to participate directly in a top-tier event long dominated by European and American teams. Chinese automakers have previously engaged in racing; Geely participated in international touring car races through Cyan Racing, formerly Volvo’s factory team, and NIO won the inaugural Formula E driver championship in 2015.

The main obstacle to entering F1 may be the cost. An insider said developing and operating a team typically requires years of preparation, with a single season costing up to $500 million (approximately 3.438 billion RMB at current exchange rates).

Known for producing relatively affordable pure electric and hybrid models, BYD has recently been trying to expand its market influence by launching luxury brands. In 2025, the high-end brand Yangwang tested the U9 Xtreme on German tracks, reaching a top speed of over 495 km/h.

If involved in F1, BYD’s brand awareness in the U.S. could also significantly increase. Due to high tariffs and market access restrictions, BYD currently does not sell passenger cars in the U.S. Meanwhile, F1’s popularity in America continues to rise, partly thanks to Netflix’s documentary “Formula 1: Drive to Survive” and the increasing number of races held in the U.S.

FIA has expressed a welcoming attitude toward Chinese teams multiple times in recent years. FIA President Mohammed Ben Sulayem said in an interview with Le Figaro last year that Chinese automakers could be the next step in F1 development after Cadillac’s entry.

Interest in F1 from the Chinese market is also increasing. The race returned to Shanghai in 2024 after a five-year absence, with Zhou Guanyu becoming the first Chinese F1 driver in 2022. The season opener took place last weekend in Melbourne, Australia, and the next race will be held in Shanghai this weekend.