BYD is evaluating entering F1

The top seller in global new-energy vehicles is starting to race. Reporters have confirmed from people close to BYD that the company’s Executive Vice President Li Ke said recently that BYD is researching entering the top-tier competitive racing field, including F1 (Formula 1 World Championship), but has not yet made a final decision. Li Ke said that taking part in the highest level of racing is consistent with BYD’s long-standing technology-first strategy. According to Li Ke, BYD is currently assessing the feasibility of entering F1 and endurance racing. More reports indicate that BYD is considering two ways to enter F1: acquiring an existing team or setting up an entirely new team from scratch, with the company’s preferred option being the former. (First Financial Daily)

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