- BYD overtook Tesla as the biggest seller of electric vehicles in 2025
- Company open to starting a new team or buying an existing outfit
Chinese car manufacturer BYD is reportedly considering a move into Formula One and endurance racing.
According to Bloomberg, BYD wants to boost its brand globally and is examining different options to aid expansion outside the Chinese market.
The automaker is considering an entry in the World Endurance Championship (WEC) or Formula One and is open-minded to either starting a brand-new team or buying an existing outfit.
In the case of the latter series, the cost of joining may be an issue, with the development and launch of a new car to require as much as US$500 million per season on the back of a lengthy negotiation period.
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BYD became the biggest seller of electric vehicles (EVs) last year, overtaking Tesla after selling more than 2.25 million cars. Bloomberg reports the company has noted motorsport’s continuing shift toward hybrid engines, with Formula One implementing new hybrid power regulations around boosting cars’ battery capacity. WEC also features the use of hybrid cars in the top Hypercar class.
Meanwhile, the head of the International Automobile Federation (FIA) has also previously welcomed the idea of a Chinese-based outfit competing in Formula One, noting to Le Figaro last year that the series has just brought in a US manufacturer in Cadillac for the 2026 campaign.
Cadillac’s entry came after years of discussions with Formula One and its teams, with the series previously cautious about expansion due to the risk of diluting prize money and its valuation.
Should BYD choose to buy an existing team instead, it would follow in the footsteps of Audi, which took full control of Swiss outfit Sauber ahead of this season. Elsewhere, Otro Capital is now seeking a buyer for its stake in Alpine, with Mercedes’ Toto Wolff and former Red Bull team principal Christian Horner also in contention to buy out the US private equity firm.
Blackbook says…
BYD’s reported interest will affirm Formula One’s commitment to hybrid engines, with many existing teams in support of hybrid power and resisting an attempt from the FIA last year to try change the sport’s regulations last year.
Having become one of the world’s biggest electric vehicle sellers, the company seemingly now has ambitions of taking its brand to new heights. Given Formula One has become a global success by growing its commercial revenue and engagement with fans, the series would help BYD achieve this goal – especially as it currently does not sell cars in the US, where the sport has taken off in popularity.
Formula One has also become more popular in China, with the series set to race in Shanghai this weekend. According to a study by Nielsen last year, the series grew its fanbase in the Asian country by 39 per cent in 2024. BYD would therefore be able to further its hold on the Chinese market by tapping into an increasingly popular sport.
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