Exclusive: BYD holds meetings with F1 and FIA at Monaco Grand Prix

BYD has continued its F1 exploration with high-level Monaco meetings involving Stella Li and senior figures from both Formula One Management and the FIA during the Monaco Grand Prix weekend.

BYD vice-president Stella Li met with Formula One Management CEO Stefano Domenicali and FIA President Mohammed Ben Sulayem in a series of meetings.

Stella Li holds Monaco meetings over BYD Formula 1 plans

Want more PlanetF1.com coverage? Add us as a preferred source on Google to your favourites list for news you can trust.

Li is understood to have met with F1 CEO Stefano Domenicali on Friday, and followed that by meeting with the FIA President Mohammed Ben Sulayem on Saturday, after the Emirati’s own arrival on Saturday morning.

The interest being expressed in Formula 1 by BYD, the world’s third-largest car manufacturer, is understood to be viewed as credible, but some senior sources have questioned the veracity of its feasibility with the manufacturer currently lacking any motorsport pedigree or knowledge, despite its clear ability to scale quickly in the automotive sector.

Some have suggested that BYD’s interest is merely to drum up publicity, with its ability to enter F1 as a new team “years away” in terms of infrastructure and capability, with others painting a picture of it carrying out a fact-finding mission.

With Li having confirmed F1 interest when speaking with Chinese media earlier this year, she was forthcoming about the reasons for BYD’s exploration of the sport when PlanetF1.com spoke with her in an exclusive interview.

“I think Formula 1, it’s all pure energy, the emotional connection to the people, and then it’s the culture,” she said, when asked about what is making Formula 1 an attractive proposition.

“For BYD, we are a technology leader.”

Other suggestions have been that BYD could explore the purchase of another team – although none are currently publicly for sale – or a significant stake in an existing team, such as the 24 per cent stake in Alpine currently held by Otro Capital.

Li did not confirm that a brand-new BYD team is the priority, suggesting that it is exploring all options.

“We are seeking any opportunity to see if BYD technology can help FIA, can help all other teams,” she said.

“Second ambition, as BYD, we also need to build a brand here. So this is the scope.”

With BYD’s extremely successful business model built around tight vertical integration of its various divisions, concentrating on new energy vehicles – hybrid and electrical – the FIA’s very public desire to move away from the direction of increased electrification, as with the current V6 hybrids, appears at odds with that ethos.

The signs all point to a simplified V8 engine with a small electrification aspect, which the FIA has indicated could happen with or without the amenability of the current manufacturers once the current Concorde Agreement expires ahead of 2031.

With the current formula, rather than the next, appearing to be a better fit for BYD, Li hinted that a combustion engine may not be completely unthinkable, despite its automotive side having left behind thermal combustion engines half a decade ago.

“[They] did not change anything, so that’s the reason we are just understanding what they are doing,” she said.

“It’s not only that, that’s the only part, but the thing about it is, even you want to use a combustion engine, you need the best material science, which BYD is very strong.”

As PlanetF1.com recently revealed, Li met with former Red Bull CEO and team boss Christian Horner in Cannes for a series of talks about what might be possible together, with Horner’s track record, success, and availability making him an attractive prospect for any partner as he seeks a return to the F1 grid.

With Horner known to be seeking an ownership position in any future position he may take in the event of a return, would the British executive make sense as a prospective partner?

“Yeah, he is a great guy, a good friend, we like him,” Li smiled, having posed for pictures alongside Horner at the company’s recent Build Your Dreams event, held during the weekend of the nearby Monaco ePrix.

However, with BYD unlikely to enter the F1 arena for, at least, a few seasons, the question mark over this potential partnership is whether Horner would be willing to wait what could be quite some time before returning.

Despite Formula E appearing to more closely match up with BYD’s automotive ethos, it’s understood that the Chinese manufacturer is not currently exploring any option to enter the all-electric series.

As Li explained, conversations with Ben Sulayem and Domenicali are likely to continue, with F1 more in line with what it seeks to achieve on the global stage.

“This is very interesting because they are also very much exploring the future, the technology, and they understand what BYD have,” Li said of her meetings with F1’s leading power players.

“I believe, for us, we try to understand what’s the interest they have, and how they can, with BYD, work together.

“This is kind of a mutual interest, together.”

Under the terms of the new Concorde Agreement, the FIA and FOM work together in a collaborative fashion on any potential Expressions of Interest process, through which any potential new team would have to pass. The previous system saw a multi-step process that led to an unpalatable situation where the entry that evolved into the current Cadillac team was not approved by FOM after passing initial checks by the FIA.

However, PlanetF1.com understands that any potential opening of EoI is not imminent.

As revealed by PlanetF1.com on Friday, Li’s meetings come on the same weekend Ben Sulayem is set to meet with all of the current power unit manufacturers in a bid to develop a clearer picture of the best way to achieve an engine split ratio to 60/40 in favour of the combustion engine, as discussions about next year’s regulations, as well as the next cycle, all continue.

Want to be the first to know exclusive information from the F1 paddock? Join our broadcast channel on WhatsApp to get the scoop on the latest developments from our team of accredited journalists.

You can also subscribe to the PlanetF1 YouTube channel for exclusive features, hear from our paddock journalists with stories from the heart of Formula 1 and much more!

Read Next: BYD Formula 1 ambition raises major questions as Christian Horner talks emerge