F1 Could Get A 12th Team? Chinese Car Maker BYD Eyes Entry With £370m Bid - Report

Last Updated:March 10, 2026, 23:52 IST

BYD, a Chinese EV giant, is considering entering Formula 1 or the World Endurance Championship, aligning with motorsport's shift to hybrid and electric tech.

Formula 1 could eventually welcome a 12th team on the grid, with Chinese electric vehicle giant BYD reportedly exploring a potential move into top-tier motorsport.

According to multiple reports, the rapidly growing automaker is assessing several routes into racing as it expands its global footprint and looks to capitalise on motorsport’s increasing shift toward hybrid and electric technology.

Sources familiar with the discussions say BYD is evaluating entry into either F1 or the World Endurance Championship (WEC), the series that includes the iconic 24 Hours of Le Mans.

The company is said to be considering multiple options, ranging from building its own team from scratch to potentially acquiring an existing operation.

The cost of joining F1

Breaking into F1, however, comes with a hefty price tag.

The cost of establishing a new team — including car development and negotiations with the sport’s commercial rights holders — can reach around £370 million.

That’s before accounting for the mandatory anti-dilution fee, which new entrants must pay to compensate existing teams for sharing prize money.

The incoming Cadillac team, backed by General Motors, paid a staggering £358 million fee to secure its place on the grid from the 2026 season.

While the latest Concorde Agreement, which runs until 2030, technically allows room for a 12th team, adding another entrant so soon after Cadillac may prove complicated.

Industry sources suggest the process of joining F1 is long, complex and politically sensitive, making any potential BYD entry far from guaranteed.

F1’s Chinese ambition

Still, the idea of a Chinese manufacturer joining the grid has long been floated by FIA president Mohammed Ben Sulayem.

Speaking previously to Le Figaro, Ben Sulayem said expanding F1’s global representation was part of his vision.

“It’s been my dream for the last two years that the big countries should have a presence in F1," he said.

“The United States will be with General Motors. The next step is to welcome a Chinese manufacturer."

If BYD does decide to pursue the project, it would mark a rare direct challenge from a Chinese automaker in a sport traditionally dominated by European and American teams.

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