Chinese car giant BYD has officially confirmed its intentions to enter Formula 1. After talks with championship CEO Stefano Domenicali in Shanghai, the company is already analyzing the possibilities of joining as the 12th team on the grid, reports gong.bg.
BYD Vice President Stella Li confirmed the development during the Beijing Auto Show, emphasizing that the project is in an active phase. “We maintain constant contact with Stefano Domenicali. Formula 1 attracts me with its passion, culture and global influence“, she said.
According to initial plans, the Chinese company is considering several options for participation – creating an entirely new team, similar to the Cadillac project, joining as a powertrain supplier or a strategic partnership with an existing team.