{"text":[[{"start":9.35,"text":"BYD is accelerating talks to enter Formula 1 after a meeting with former Red Bull Racing chief Christian Horner in Cannes, marking the latest bid by the Chinese brand to boost its global profile. "}],[{"start":21.049999999999997,"text":"Following talks between Stella Li, executive vice-president at BYD, and Horner last week, BYD intends to hold further meetings with senior figures involved in F1 and at the FIA, the governing body, according to two people with knowledge of the matter. "}],[{"start":37.65,"text":"However, talks with the world’s largest EV maker are at an early stage and there is no guarantee that the carmaker will enter F1, the people cautioned. It is unclear whether BYD would produce a power unit or become a customer of an engine supplier — routes into F1 include buying into an existing team or adding a 12th team to the grid."}],[{"start":57.95,"text":"Still, if its efforts are successful, BYD’s bid for F1 would mark a milestone for Chinese carmakers, which are rapidly expanding into global markets with EVs and hybrids known for their affordability and advanced software."}],[{"start":73.10000000000001,"text":"Among the Chinese brands, BYD is one of the fastest growing in Europe, having made huge investments to build new plants and dealer networks to expand profits outside of China, where sales have come under pressure. "}],[{"start":85.95,"text":"In February, it partnered with Manchester City, which is owned by a member of the Abu Dhabi ruling family. BYD is the football club’s official automotive partner, promoting its brand to the global audience of the English Premier League. It also has a sponsorship deal with Italian football club Inter Milan."}],[{"start":103,"text":"BYD declined to comment on the F1 talks but Li recently told reporters in Beijing that the company was internally discussing opportunities in motorsports, including F1, to showcase its technology. "}],[{"start":115.9,"text":"F1, FIA and Horner declined to comment."}],[{"start":120.15,"text":"The interest is a boost to Liberty Media, the US group that has controlled F1 since 2017, as the sport looks to become increasingly global. Liberty was dealt a setback when it was forced to call off races in Bahrain and Saudi Arabia in April due to the conflict in the Gulf."}],[{"start":139.4,"text":"Most F1 teams are based in England but have an array of owners and shareholders, ranging from the Italian industrialists who control Ferrari to billionaires, Middle East sovereign wealth funds and private equity firms at other teams."}],[{"start":153.65,"text":"China is an important market for F1. The Chinese Grand Prix returned in 2024 after a five-year absence due to the coronavirus pandemic."}],[{"start":163.5,"text":"The event, which first took place in 2004, has since been extended to 2030. At the time, F1 estimated it had more than 150mn fans in the country. Cumulative attendance in Shanghai this year across the weekend totalled 230,000, up 10,000 versus 2025. "}],[{"start":184.25,"text":"While there is room for a 12th team on the grid, the application process is complex and time-consuming. A newcomer would be required to pay a fee of several hundred million dollars to compensate existing teams on the grid."}],[{"start":198.4,"text":"Cadillac became the 11th team on the grid at the start of this season, in an entry backed by General Motors and billionaire Mark Walter’s TWG Motorsports. After four races this year, Cadillac is in 10th position in the constructor standings, highlighting the challenge of setting up a team from scratch. "}],[{"start":215.55,"text":"Cadillac has turned to F1 veterans such as team principal Graeme Lowdon and executive engineering consultant Pat Symonds. BYD’s discussions with Horner highlight how the automaker is seeking views from people who have operated at the highest levels of the sport."}],[{"start":231.95000000000002,"text":"Horner is exploring several ways back into motorsport after leaving Red Bull last year. He is among the interested parties in a 24 per cent stake in Alpine, the F1 team that is owned by US investment firm Otro Capital. He is also working with buyout firm Oakley Capital as an adviser on investments in premium sports."}],[{"start":258.9,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1779419843_7744.mp3"}