EV giant BYD ramps up interest in Formula 1 with 12th team ambitions

Last month, reports emerged that BYD, the Chinese electric vehicle powerhouse, is evaluating a move into motorsport, with Formula 1 understood to be among the options as the company looks to raise its global profile following years of rapid expansion in its home market. Reports added that it remains unclear how the Chinese giant could enter Formula 1, with three options currently on the table: joining as a twelfth team, as Cadillac has done, entering as a power unit manufacturer, or coming in as a main partner.

Speaking to Sportmediaset at the Beijing Auto Show, BYD vice president Stella Li personally confirmed the company’s intention to turn the rumours into reality. She said that BYD had already held talks with Stefano Domenicali in Shanghai and remains in close contact with Formula 1’s CEO, underlining her appreciation for the sport’s blend of passion, culture and the aspirational pull it holds for people around the world: “We met with Stefano Domenicali in Shanghai and we’re always in close contact. I like Formula 1 because it’s all about passion and culture, and people dream of being part of it.”

When asked whether an entry into the series is a realistic prospect, she made it clear that it is an option currently under discussion: “Yes, it’s something we’re discussing.”

Former Formula 1 team boss Otmar Szafnauer, now CEO and Managing Partner of Van Amersfoort Racing, is working alongside majority shareholder Rafael Villagómez Sr. on plans to enter Formula 1 with a twelfth team.

Speaking to GPblog, Szafnauer explained that the collaboration with Villagómez began during earlier efforts to secure the 11th grid slot, which ultimately went to Cadillac. With the door now potentially opening for a 12th team, both remain keen to pursue an entry or alternatively invest in an existing project if the right opportunity arises. Alongside their F1 ambitions, launching an IndyCar team is also being seriously considered as part of their broader motorsport plans.