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BYD Reportedly In Talks with Former Red Bull Team Principal on F1 Entry
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Following a meeting between Stella Li, Executive Vice President of BYD COMPANY (01211.HK), and former Red Bull team principal Christian Horner, BYD is expediting talks to enter Formula One (F1), Financial Times reported, quoting people with the knowledge of the matter. BYD plans to hold further discussions with senior executives of F1 and the FIA. BYD's negotiations reportedly remain at an early stage, with no guarantee of securing an F1 entry. It is currently unclear whether BYD will develop its own power unit or become a customer of an existing engine supplier. Possible routes into F1 include taking a stake in an existing team or through the addition of a 12th team on the grid. BYD did not comment on the report. However, Li recently indicated that the company is internally discussing opportunities in motorsports to showcase its technology. AASTOCKS Financial News |
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