According to Bloomberg, the company, seeking to strengthen its position on the international stage, is considering participation in prestigious races as a way to increase global brand awareness.
Agency sources clarify that BYD is exploring both the possibility of creating its own racing team from scratch, and acquiring an existing team.
The agency notes that such interest is unusual for Chinese automakers, which usually do not show much activity in motorsports.
The main obstacle for BYD on the way to the “Royal Races” may be colossal financial costs. According to some estimates, developing a car and participating in the championship costs up to $500 million per season, not to mention long and complex negotiations with the organizers.
However, this project also has a serious trump card – in recent years, the popularity of Formula 1 in China itself has been steadily growing. notes Bloomberg.
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