BYD, the world’s largest electric vehicle maker by sales, is interested in entering Formula One to expand its brand beyond China, according to reports on June 18, 2026 [1, 2, 3, 4]. A full F1 team entry would be costly and complex, so BYD is considering sponsorship of an existing team as a lower-risk option [1, 2, 3, 4].
There is room for one more team on the F1 grid, potentially making BYD the 12th competitor, supported by the sport’s strong following in China where 221.1 million fans watch the Shanghai Grand Prix annually [1, 2, 3, 4]. FIA President Mohammed Ben Sulayem and Formula One management have expressed openness to a Chinese team joining if it brings sporting and commercial benefits [1, 2, 3, 4].
Full entry costs run into hundreds of millions of dollars, including infrastructure like wind tunnels and factories. For example, Aston Martin’s F1 factory and wind tunnel cost £150 million to £200 million [1, 2, 3, 4]. New teams also pay over $450 million in anti-dilution fees, as Cadillac did this year, adding to the financial barrier [1, 2, 3, 4].
Buying a stake in an existing team, such as Alpine, is an alternative, though current majority owners may resist ceding control [1, 2, 3, 4]. Analyst Ian Moore called F1 "the greatest marketing vehicle for OEMs" but independent analyst Felipe Munoz cautioned that "financially it might not sound like a wise move to spend so much money on a field they barely know" [1].
BYD declined to comment publicly on its Formula One plans [1, 2, 3, 4]. The company aims to locally produce all cars it sells in Europe by 2028 [1, 2, 3, 4]. Meanwhile, Geely, another Chinese automaker, is focusing on global motorsport efforts including plans to host the Superbike World Championship in China [5].
BYD’s next concrete step will be deciding whether to pursue sponsorship deals ahead of any formal team entry, as the window for additions to the F1 grid remains open.
