The world's largest car manufacturer, the Chinese company BYD, is considering entering the world of motorsport "Formula 1," as reported by the Kazinform agency, citing information from Bloomberg.
The potential participation in "Formula 1" is seen as a way to increase the attractiveness of the Chinese brand on the international stage. Bloomberg sources indicate that BYD may either create its own racing team or consider acquiring an existing one.
However, Bloomberg emphasizes that Chinese automakers, in general, do not show much interest in motorsport. One of the main obstacles to BYD's participation in "Formula 1" could be the colossal costs – developing a racing car and participating in races could cost up to $500 million for a single season, and the negotiation process with the organizers could take a significant amount of time.
On the other hand, it is worth noting that interest in "Formula 1" in China has been growing in recent years, which could work in the company's favor.
