BYD has confirmed negotiations with Formula 1.

      Conversations about the Chinese corporation BYD's interest in entering Formula 1 have been circulating for a long time, but more or less concrete information only emerged in March of this year, and we reported on it.

      The world leader in electric vehicle sales is indeed exploring options for participation in motorsport, as it seeks to increase brand recognition outside of China.

      Now, BYD's management has confirmed that they are in negotiations with Stefano Domenicali, the CEO and president of Formula 1. Previously, the Chinese automotive giant considered electric Formula E as a priority direction, but it is possible that BYD is now more interested in F1. However, it remains unclear whether this involves creating a new team or acquiring an existing one.

      Speaking to the press during the opening days of the Beijing Auto Show yesterday, Stella Li, vice president of BYD, stated: "We met with Stefano Domenicali in Shanghai. We maintain warm business relations and are in constant contact."

      When asked directly whether the corporation is considering participation in the world championship in the future, she answered affirmatively: "Yes, we are discussing it. It is a real opportunity to test our technologies."

      Ms. Li also admitted that she is already a fan of Formula 1: "I love Formula 1 because this sport symbolizes passion and a special culture, and many dream of getting into F1."

      FIA President Mohammed ben Sulayem has also recently stated that he would welcome the arrival of a 12th team in the world championship, especially if it is a factory project from a Chinese company.