00:00In other news, China's automotive giant BYD Company is considering a move into competitive motorsport,
00:07including Formula One and endurance racing.
00:09The plan is part of efforts to boost the brand's global profile following rapid expansion outside its home market.
00:19Bloomberg reports the company is exploring its options as motorsport shifts toward hybrid engines.
00:25This could involve building its own team or acquiring an existing one.
00:30However, the cost could be a major hurdle, with the Formula One season estimated to cost up to US$500
00:36million.
00:37Any entry by BYD would mark a rare direct attempt by a Chinese manufacturer to compete in a sport long
00:44dominated by European and US teams.
00:46F1's popularity in China has also been growing since the sport returned to Shanghai in 2024 after a five-year
00:54absence.
00:54The head of the sport's governing body, Mohamed Bin Selayam, has previously welcomed a team from China,
01:00saying a Chinese manufacturer would be a logical next step for F1 after the arrival of Cadillac.
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