Formula E chief executive Jeff Dodds has confirmed that his team talks with Chinese manufacturer BYD on a regular basis, despite recent media claims that BYD may be eyeing a move into Formula 1.

What the reports say

Financial news outlet Bloomberg reported that BYD is exploring motorsport opportunities and has shown interest in Formula 1. The report outlined two possible paths:

  • Join as a new team: becoming a completely new 12th entry, estimated to cost around £370 million.
  • Partner with an existing team: a technical or branding tie-up similar to Toyota's arrangement with Haas.

The large upfront fee for a new team is widely seen as a potential obstacle. FIA president Mohammed Ben Sulayem has previously expressed a desire to see a Chinese manufacturer compete in Formula 1, which makes the idea appealing to some stakeholders.

BYD's motorsport background

BYD is not a small player. The company recently overtook Tesla as the global top seller of electric vehicles and builds only electric and hybrid cars. It has shown interest in electric racing series and has been visible at Formula E events, including an activation at the Mexico City E-Prix in January with prominent paddock branding.

Key BYD figures have also attended Formula 1 races. BYD vice president Stella Li was at the Chinese Grand Prix this month and at last year’s Abu Dhabi race.

What Dodds actually said

Dodds told RacingNews365 that he does not know whether BYD has real plans for Formula 1. He stressed that Formula E remains in contact with the company and that his team met with BYD representatives as recently as last week.

He added that press coverage can sometimes amplify a single remark into a much bigger story, and that he tends to trust information that can be verified. In his words, BYD is a major global auto brand and it is logical for such a company to look at multiple series, but an all-electric brand moving into Formula 1 does raise questions given the different technical directions of the categories.

Bottom line

For now, Formula E says communication with BYD is ongoing. Whether BYD pursues Formula 1, Formula E, a partnership, or simply continues to observe remains unclear. The conversations appear active, but a decision has not been publicly confirmed.