Chinese carmaker BYD could be edging closer to a shock move into Formula 1, with former Red Bull team boss Christian Horner reportedly linked to the ambitious project.
According to Bloomberg, the fast-growing automotive giant is exploring opportunities to expand into the multibillion-dollar series as the sport shifts towards hybrid technology.
But joining Formula 1 isn’t be easy.
Bloomberg’s inside source suggest the high costs may be an obstacle for BYD.
And from what we’ve seen with Cadillac, a new team can spend years negotiating entry agreements while incurring start-up costs that exceed well beyond the half a million mark.
Earlier this year, BYD’s Executive Vice President, Stella Li met with Formula 1 CEO Stefano Domenicali during the Chinese Grand Prix to discuss the brand’s motorsport ambitions.
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Following those talks, Italian outlet SportMediaset, Li said Formula 1 represented a major opportunity for the Chinese automaker.
“I like Formula 1 because it’s about passion, culture and people dream of being in Formula 1,” she said.
“It’s something we’re discussing. It’s a real opportunity to test our technology.”
While nothing concrete has been announced, it is a stepping stone to the brand’s ultimate goal of becoming an F1 team.
There are two ways BYD could enter the F1 scene: as a brand-new team or by taking over an existing operation.
It is understood BYD’s first choice is to enter F1 as a 12th team, but the manufacturer is considering all options.
One opportunity that has come to the table is for BYD to buy the Alpine F1 team from Renault.
Recent speculation suggests the Chinese manufacturer is interested in acquiring the team while also taking over Renault’s F1 engine factory in France.
American investment group Otro Capital is also looking to sell its 24 per cent minority share in the Alpine team.
Otro Capital paid US$233 million ($325m) for its Alpine stake in 2023, and with Alpine’s valuation more than doubling since, that stake would now be worth significantly more.
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BYD isn’t the only party interested.
Mercedes boss Toto Wolff is eyeing the deal which could see Alpine become Mercedes’ B team, akin to Red Bull’s relationship with Racing Bulls.
At the same time, BYD’s strategy to take over the Renault Viry-Chatillon factory could suggest the brand is considering developing and supplying its own F1 power units.
Adding further intrigue to BYD’s F1 ambitions, Christian Horner could play a key role in the brand’s strategy to appear in F1.
Christian Horner has been evaluating his options to return to F1 following his surprise exit from Red Bull last year.
The former Red Bull team principal recently attended Formula E’s Monaco race, spending time with BYD executives during a promotional event linked to the Cannes Film Festival.
According to The Race, Horner met BYD executive Li to discuss Formula 1 opportunities and a possible partnership.
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It is understood Horner wants an equity stake or operational control, similar to his position at Red Bull, where he served as team principal and CEO.
BYD joining F1 as a 12th team could give Horner more direct control over team direction, rather than buying into an existing operation such as Alpine, where multiple major shareholders would make control more difficult.
No agreements were made, but rather negotiations were positive with serious potential for the brand to move plans forward, according to reports.
There is no official word on when BYD will enter F1, but FIA officials are interested in a Chinese manufacturer joining the series.
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FIA president Mohammed Ben Sulayem previously backed the idea of a Chinese manufacturer joining Formula 1, arguing it would strengthen the sport commercially.
“If there is a Chinese manufacturer interested, and I will speak on behalf of FOM, they will agree to that, because it is about sustaining the business,” he said.
“If there is a team from China, let’s say, and FOM approved it, and I am 100 per cent they will approve it, wouldn’t it make more money with China coming in? I believe, yes.”
