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BYD weighs Formula 1 entry as F1 eyes China market

Financial Times Companies •
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Chinese EV giant BYD is in talks with former Red Bull boss Christian Horner about a possible Formula 1 debut. Horner, fresh from Cannes, met BYD executive Stella Li to explore entry routes, from applying for the sport's 12th grid slot to buying a stake in an existing team. The discussion reflects BYD's ambition to showcase its brand on a global stage.

BYD posted a $600 million net profit in Q1, a dip of 55% year‑on‑year but still sizable against F1’s 2025 operating profit of $632 million. The sport’s resurgence in China, where fan numbers have surged to over 221 million, offers a lucrative audience for the Shenzhen‑based maker. Yet the current hybrid formula, split 50:50 between combustion and electric power, clashes with BYD’s pure‑battery image.

Regulators plan to shift back toward naturally aspirated V8 engines with sustainable fuel by 2029, further distancing F1 from BYD’s core technology. While Formula E would be a natural fit, it lacks F1’s worldwide reach. Regardless of the technical mismatch, BYD appears ready to invest heavily for the marketing clout that comes with joining motorsport’s elite club.