Formula E continue Chinese manufacturer discussions despite reported F1 interest

Formula E CEO Jeff Dodds has insisted that the series remains in “regular” talks with Chinese manufacturer BYD, following reports that it is exploring a move into Formula 1.

According to American financial data firm Bloomberg, BYD is interested in expanding into motorsport, particularly F1.

Should it wish to join the championship as an entirely new 12th team, the cost is estimated at around £370 million. The other option would be to partner with an existing team, similar to Toyota’s relationship with Haas.

The staggering cost of becoming a 12th outfit is believed to be a stumbling block for BYD, although FIA president Mohammed Ben Sulayem has previously outlined his interest in seeing a Chinese brand in F1.

BYD is a company making huge strides, having overtaken Tesla as the global top seller of EVs. Currently, it produces only electric and hybrid vehicles and has been flirting with the idea of joining Formula E.

Despite not being a current Formula E team, BYD has had a presence at races in recent years, most recently at January’s Mexico City E-Prix, where it held an activation with major branding in the paddock.

However, BYD vice president Stella Li was in attendance earlier this month at F1’s Chinese Grand Prix, as well as at last year’s race in Abu Dhabi.

Dodds is unsure if the Chinese automotive group is interested in F1, despite the reports, but insists his team remains in constant communication, as recently as a week ago.

Asked if BYD’s interest in joining Formula E is cooling, Dodds told RacingNews365: “We talk to them regularly. I have no idea if there is any interest in Formula 1 from BYD, and don’t take this the wrong way, but I believe a fraction of what I often read in the press.

"The things that we know to be factually true are usually reported in a factual way. So I don’t know what conversation has happened.

"I don’t know whether one person at BYD has said something in passing and then, all of a sudden, that’s generated a huge amount of press, which is possibly what’s happened.

"BYD is a massive global auto brand. So, on one hand, a big global auto brand looking at Formula 1 is perfectly logical. On the other hand, an all-electric auto brand looking at Formula 1 seems counterintuitive, so I’ve got no idea.

"But we have a long and good relationship. We’re talking to them. My team were talking to them last week, so we continue to explore that dialogue."