BYD is reportedly exploring a major entry into motorsports through the potential acquisition of a stake in the Alpine F1 Team. The Chinese electric vehicle giant is also considering a takeover of Renault's engine plant in France.
BYD officially stated it has no information to disclose regarding the reports. However, Executive Vice President Stella Li previously confirmed the company was in substantive talks regarding a Formula 1 entry.
Li has met with Formula 1 CEO Stefano Domenicali to discuss the potential move. The expansion into F1 aims to elevate BYD's global brand image and showcase its technological capabilities.