- BYD wants to enter the world of racing and explore several motorsport series.
- The automaker is considering entering Formula 1 and the World Endurance Championship.
- They can form their own team or acquire an existing team.
Chinese automaker BYD wants to join the race. According to a new report, the company that makes the ultra-cheap electric vehicle Seagull is allegedly exploring several potential motorsport series, including the World Endurance Championship and Formula 1.
According to “people familiar with the matter” who spoke with him BloombergBYD is open to forming its own team or buying an existing team. If successful, BYD would become the first Chinese automaker in the elite racing series, giving local Chinese Grand Prix participants a team to cheer for.
Photo by: BYD
Mohammed Ben Sulayem, chairman of the FIA which governs F1 and WEC, previously said he was open to accepting a Chinese team. But there are obstacles. One person to talk to Bloomberg said the cost of entering F1 could deter the automaker from doing so.
Starting a team from scratch can cost hundreds of millions of dollars—and then there’s the potential for resistance from existing teams and Formula One Management. When Cadillac tried to enter F1 in late 2023, the FIA approved it, but the FOM rejected it a few months later. Maybe BYD will get a warmer welcome.
Motorcycle Pickup1: Entering Formula 1 will introduce BYD to a new audience around the world, but the costs of entering and competing are extremely high. Making an honest bid to compete in F1 would require hundreds of millions of dollars and dedication to sustain it, which may be too much effort for BYD at this point.
