Chinese automotive giant BYD continued to explore a potential future in Formula 1 during the Monaco Grand Prix weekend, holding high-level meetings with senior figures from both Formula One Management and the FIA, with involvement from Christian Horner still possible.
As first reported by PlanetF1, BYD Vice President Stella Li met with Formula 1 CEO Stefano Domenicali on Friday, also holding talks with FIA President Mohammed Ben Sulayem on Saturday.
Motorsport Week likewise understands that Horner was at last month’s Monaco E-Prix primarily for the “Build Your Dreams” event that week.
PlanetF1 previously revealed that Li also met former Red Bull Team Principal Christian Horner to discuss possible opportunities in F1.
The BYD Formula 1 journey so far
BYD’s growing interest in F1 is understood to be viewed seriously within the paddock. However, questions remain over how quickly the company could establish itself in the championship given its lack of motorsport experience.
Some senior figures believe BYD is still in the information-gathering phase. Others have suggested the company remains years away from having the infrastructure required to launch a Formula 1 operation.
Li publicly confirmed BYD’s interest in Formula 1 earlier this year. She explained the attraction of the championship during an exclusive interview with PlanetF1.com.
“I think Formula 1, it’s all pure energy, the emotional connection to the people, and then it’s the culture,” she said.
“For BYD, we are a technology leader.”
Speculation has linked BYD with a potential acquisition of an existing team. One possibility frequently mentioned is the 24 per cent stake in Alpine currently owned by Otro Capital.
However, Li indicated that BYD is evaluating a range of possibilities rather than focusing solely on launching its own team.
“We are seeking any opportunity to see if BYD technology can help FIA, can help all other teams,” she said.
“Second ambition, as BYD, we also need to build a brand here. So this is the scope.”
The company’s exploration of Formula 1 comes despite the FIA pushing towards a future engine formula that could reduce the role of electrification after 2030.
While BYD has not produced pure combustion-engined road cars for several years, Li suggested the technology remains relevant to the company’s expertise.
“[They] did not change anything, so that’s the reason we are just understanding what they are doing,” she said.
“It’s not only that, that’s the only part, but the thing about it is, even you want to use a combustion engine, you need the best material science, which BYD is very strong.”
Li also spoke positively about Horner when asked about the former Red Bull boss, who remains linked with several future motorsport projects.
“Yeah, he is a great guy, a good friend, we like him,” Li said.
Is Formula E an alternative?
Despite Formula E appearing to align more naturally with BYD’s electric vehicle strategy, it is understood that the manufacturer is not currently evaluating an entry into the all-electric championship.
Discussions with both Domenicali and Ben Sulayem are expected to continue as BYD assesses its long-term options.
“This is very interesting because they are also very much exploring the future, the technology, and they understand what BYD have,” Li said.
“I believe, for us, we try to understand what’s the interest they have, and how they can, with BYD, work together.
“This is kind of a mutual interest, together.”
It is also understood that any new FIA Expression of Interest process for prospective Formula 1 entrants is not expected to open in the immediate future.
Li’s Monaco meetings came during the same weekend that Ben Sulayem was scheduled to meet with Formula 1 power unit manufacturers as discussions continue over future engine regulations and a potential move towards a 60/40 split in favour of combustion power.
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