Select Language:
BYD is considering entering top-tier competitive racing, including Formula 1, though no final decision has been made yet, according to a source close to the Chinese new energy vehicle manufacturer.
Participating in the world’s highest level of racing aligns with BYD’s long-term focus on technology innovation. However, the company is still evaluating the practicality of entering F1 or endurance racing, said the Executive Vice President.
BYD could join F1 by either acquiring an existing team or establishing a new one. Rumors on social media suggest the company prefers the former option.
Industry experts believe BYD’s interest in racing stems from multiple strategic reasons. Engaging in such competitions can boost visibility for its technology and brand, potentially attracting more international consumers and enhancing global appeal.
The company first entered Chinese national professional racing in 2014 with its Qin model participating in the China Rally Championship. Since then, BYD has consistently competed in the CRC, especially performing well in the hybrid category.
In addition, the company plans a substantial investment of CNY5 billion (about USD726 million) to develop what will be the world’s first all-terrain professional racetrack, as announced by Chairman Wang Chuanfu during the BYD Technology Dream Day event in 2024.
ChatGPT
Perplexity
Gemini AI
Grok AI
