The world's largest car manufacturer, the Chinese company BYD, is showing interest in participating in Formula 1 racing, as reported by the Kazinform agency, citing information from Bloomberg.
According to experts from Bloomberg, participation in Formula 1 could be a strategic move to enhance the recognition of the Chinese automotive brand on the international stage. In this regard, the company is considering the possibility of creating a new racing team or acquiring an existing one.
However, as Bloomberg notes, Chinese automakers in general do not show much interest in motorsport. Among the main obstacles for BYD is the high cost of participation—developing a racing car and participating could cost up to 500 million dollars per season, as well as the lengthy negotiations required with the organizers.
On the other hand, it is worth noting that the popularity of Formula 1 in China has significantly increased in recent years, which could work in the company's favor.
