The BYD corporation currently has no plans to enter Formula 1.

      The management of the Chinese automotive giant BYD is exploring various scenarios for participation in major international motorsport competitions, including Formula 1, and we have reported on this. However, judging by the comments of Stella Li, the vice president of the group, it is still too early to talk about any specific project.

      Ms. Li is currently at the Goodwood Festival of Speed this weekend, where BYD is showcasing its three brands – BYD itself, as well as Denza and Yangwang, with the group's exhibition being the largest among automotive manufacturers' stands.

      "There is no project," she stated while speaking to the press. "I have already said that we have no plans to immediately implement any such project. The dream of this has always been there, but there is no specificity yet."

      Alfredo Altavilla, the group's advisor, elaborated on her thoughts: "We will only be ready to consider Formula 1 if our technologies can meet the goals of F1. We will never participate in this championship just to put our sticker on a racing car. There are more effective ways to invest that money.

      If we can find an approach where we become technological partners of Formula 1, then we might be interested in such cooperation. But for that, we need to find a suitable solution, and for now, it is premature to talk about anything. Let's see how the situation develops with the new technical regulations in F1."

      It can be assumed that these comments relate to the plans of the FIA and Formula 1 in the next five years to return to V8 engines with significantly limited hybrid components, while BYD is focusing on the production of electric vehicles and hybrid powertrains.