Electric vehicle giant BYD Co (OTC:BYDDY)(OTC:BYDDF) has enjoyed years of growth and surpassed Tesla Inc (NASDAQ:TSLA) as the global EV leader. The sales record has helped the company gain more brand awareness in the U.S, and other countries outside of China.
The company may now have another strategy to boost brand awareness.
BYD Looks to Formula 1
The motorsports league also added an 11th team for the 2026 season, with the Cadillac F1 team from General Motors Co (NYSE:GM) adding another U.S. team.
According to a report from Bloomberg, BYD is eyeing expansion into competitive or endurance racing with the potential to launch a bid for a new team or acquire a stake in an existing team across potential leagues such as the World Endurance Championship or Formula 1.
While Tesla has focused on a minimal advertising approach, instead relying on word of mouth and brand awareness, BYD could be ready to spend aggressively on a racing team to help boost its brand around the world.
The motorsports league has also enjoyed growth in Asia with a return to racing in Shanghai last season for the first time in five years. Adding BYD as a 12th team could help the league have additional reach in the Asian market.
Will BYD Buy a Stake in Alpine?
Among the potential hurdles for BYD to get involved in Formula 1 are the high costs of having a team or operating an existing team. General Motors paid $450 million for its team, which doesn’t include operational costs, according to Electrek.
BYD could look to an existing team such as Alpine, which is owned by Renault, according to Electrek. Alpine competes in both the World Endurance Championship and Formula 1. Alpine plans to leave the WEC at the end of 2026, which could leave a potential opening for BYD.
Renault CEO Luca de Meo previously said the Alpine racing team is not for sale, with F1 crucial for the brand.
While Renault’s stake in the racing team is not for sale, minority investments, including one from Otro Capital, could be for sale. The Otro Capital stake includes investments from several athletes.
Among the athletes who have invested in Alpine F1 are Patrick Mahomes, Travis Kelce, Rory McIlroy, Anthony Joshua and Trent Alexander-Arnold. Actor Michael B. Jordan is also an investor in the racing team.
Maximum Effort Investments, which is owned by actors Ryan Reynolds and Rob McElhenney, is also an investor in the Alpine F1 team.
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