BYD is accelerating talks to enter Formula 1 after a meeting with former Red Bull Racing chief Christian Horner in Cannes, marking the latest bid by the Chinese brand to boost its global profile.
Following talks between Stella Li, executive vice-president at BYD, and Horner last week, BYD intends to hold further meetings with senior figures involved in F1 and at the FIA, the governing body, according to two people with knowledge of the matter.
However, talks with the world’s largest EV maker are at an early stage and there is no guarantee that the carmaker will enter F1, the people cautioned. It is unclear whether BYD would produce a power unit or become a customer of an engine supplier — routes into F1 include buying into an existing team or adding a 12th team to the grid.