Is a 12th F1 team on the table?
Formula 1 teams may be on their well-earned summer holidays, but that doesn’t stop the Formula 1 rumour mill from turning. The virtual paddock is always buzzing with new gossip; the latest being the big-name return of Christian Horner along with a new car manufacturer, BYD. However, further investigation into the evidence shows this one makes a lot of sense.
BYD (Build Your Dreams) is a Chinese high-tech manufacturing company specialising in new energy vehicles, rechargeable batteries and renewable energy solutions. It has been rapidly climbing up the automotive charts and has now surpassed Tesla's annual revenue by $9 billion to become the world’s biggest electric vehicle seller. This increase in popularity suggests they are looking to expand elsewhere. Could this be into the world of Formula 1?
Formula 1 and BYD already have connections, with vice president of BYD, Stella-Li, meeting up with F1 CEO Stefano Domenicali and FIA President Mohammed Ben Sulayem at various events such as the Monaco Grand Prix. This is because BYD is actively investigating how to “put their tech to the test” to ascend further than being just “a sticker on the side of a car”.
There are many sectors within Formula 1 that BYD could participate in, whether it’s as a sponsor, a power unit supplier or buying a stake within a team. They have even admitted to considering two levels of ambitions in an interview with PlanetF1. The first area of collaboration they are considering is how BYD Technology can support the FIA and teams, and their battery expertise would be a logical area. But their second ambition is where it gets interesting: to build a brand in Formula 1, and many are theorising that they will accomplish this through becoming the 12th team on the grid.
Hurdles BYD may face
Although the Concorde Agreement that governs the sport legally allows up to 12 teams (24 cars), there are practical challenges with the street tracks; this is because tracks like Monaco can’t be adapted for a higher volume of cars. These tracks are already very dangerous with their restricted width, and adding two more cars could be more dangerous if a mistake was made in the race.
Another challenge is that the new regulations that began this season may not suit BYD’s goals or their electric-first technology. However, going forward this may become less of a problem because BYD is known for their zero-emission electric vehicles, which aligns well with Formula 1's goal of reaching Net Zero by 2030.
Who is most suitable for the role of Team Principal?
Sulayem confirmed in an interview at the British Grand Prix that ex-Red Bull Team Principal, Christian Horner, will be returning to Formula 1, but declined to give any more detail. While many initially theorised it would be with Aston Martin, it is logical that if BYD are serious about entering Formula 1, they will want him to lead the new team, most likely as Team Principal. Maybe even creating a similar co-ownership structure like the one Toto Wolff has with Mercedes. This theory extends further than just rumours, as Horner has appeared at numerous BYD events.
So, why is Horner so fit for the role? As the team principal for Red Bull Racing, he was instrumental in building the new team from the start, winning 8 driver and 6 constructor championships along the way, showcasing his ability to drive a team to success - and this is what BYD would be looking to replicate. Horner understands the sport inside out, to the point of being able to deliver dominating seasons, like the one in 2023 with Max Verstappen winning 19 of the 22 races.
With BYD meeting the F1 powers and making it public that they are looking at all options for collaborating in Formula 1, combined with the FIA President’s comment on Horner saying “He will be back”, BYD are one strong option in becoming the 12th and final team, and they certainly have the investments to do so.