Chinese automotive giant BYD aims to join Formula 1 through three potential paths: title sponsorship like Gucci's Alpine deal, team acquisition, or creating a 12th expansion team. BYD's Executive Vice President Stella Li has held exploratory talks and will meet F1 executives at Monaco, though discussions remain in early fact-finding stages.

The path forward faces significant obstacles as team valuations have soared, with acquisition offers exceeding $2 billion being rejected. F1 has only just admitted Cadillac-GM after a protracted process, and adding a 12th team presents commercial and logistical challenges, including cramped paddocks and potential anti-dilution fees that would likely be substantial.

Christian Horner's potential involvement adds another layer to the speculation, with the former Red Bull chief photographed with Li at Cannes and involved in a consortium seeking to acquire Alpine. Despite BYD's resources and F1's interest in tapping the Chinese market, concrete evidence remains lacking that the Chinese manufacturer will make a serious bid beyond generating publicity.