'Wouldn't it make more money?': Christian Horner lurking as $165b giant confirms F1 plot

Chinese car manufacturer BYD (Build Your Dreams) has confirmed its interest in exploring options to enter Formula 1, aiming to become the sport's elusive 12th team.

While the automotive giant was initially linked to a minority stake in Alpine, BYD's ambitions have rapidly scaled up.

Leading the charge is Stella Li, BYD's executive vice-president, who has transitioned the company's F1 strategy into a full-scale grid-expansion bid.

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Earlier this year, Li admitted there was dialogue with F1 CEO Stefano Domenicali during the Chinese Grand Prix in Shanghai.

Speaking to Italian publication SportMediaset in the wake of those talks, she said: "I like Formula 1 because it's about passion, culture and people dream of being in Formula 1 ... It's something we're discussing.

"It's a real opportunity to test our technology."

Adding fuel to the fire is ousted team principal Christian Horner, who was spotted rubbing shoulders with BYD executives during a visit to an event BYD held at the Cannes Film Festival.

There, the two reportedly held discussions regarding F1's landscape and a potential partnership, even posing for photographs together.

Horner also went to the Monaco Formula E paddock.

BYD recently overtook Tesla as the world's leading electric vehicle manufacturer.

Valued at more than $168 billion AUD, the company is looking to leverage global motorsport to cement its international presence.

While paddock rumours continue to tie BYD to Alpine, sources indicate BYD is not interested in a simple sponsorship or minority buy-in.

The manufacturer instead would only acquire an existing team if 100 per cent ownership was on the table. It seems BYD has a clear preference to build a project from scratch as a brand-new 12th entry.

This approach aligns with past comments from FIA president Mohammed Ben Sulayem, who noted that neither the FIA nor FOM would block the "right" manufacturer if a new EOI process opened, particularly one from an untapped market.

"If there is a Chinese [manufacturer interested], and I will speak on behalf of FOM, they will agree to that, because it is about sustaining the business," said Sulayem.

"If there is a team from China, let's say, and FOM approved it, and I am 100 per cent they will approve it, wouldn't it make more money with China coming in? I believe, yes.

"Do we have to fill up [the grid] with a 12th team for the sake of filling up [the grid] with a 12th team? No. It will be the right team.

"I am here as a sportsman, and I'd like to keep the spirit of the sport.

"Of course, they will have to say, 'Oh, it's a piece of cake, and now it's been divided into 11'. Yes, I see the point. But the revenue is getting bigger.

"The time will come when we feel it's right to open an expression of interest.

"We are not here to upset the other teams, but it won't be just for the sake of doing it. It has to be worth it.

"For us, the [12th] team has to add value to sustaining the business of Formula 1, and the business of Formula 1 is not about the income; it's about the longevity of the championship itself."

This cautious approach stems from the highly publicised pushback FOM levelled against the Cadillac-Andretti bid.

However, Horner's proven track record of championship success makes him an attractive spearhead for investors.

The veteran manager has reportedly held several meetings with both Domenicali and Sulayem in recent months to test the waters for a 12th team framework.

But the prospect of joining the paddock has just become slightly more difficult for BYD.

As an all-electric manufacturer, BYD's F1 interest is heavily dependent on the sport's commitment to advanced hybrid technology.

However, recent paddock chatter regarding a potential return to roaring V8 engines has thrown a wrench into the works, which would force BYD to re-evaluate its venture.

In the discussion of drivers, we've seen new entries such as Cadillac lean on veteran drivers that can lead the team to a quick progression with their proven experience on the grid.

Thus, it seems Zhou Guanyu would be a shoo-in for a potential BYD drive. Currently a reserve driver for Cadillac, he is the only mainland Chinese driver on the F1 circuit.

The rest of the 11 entries in Formula 1 are back on the track this weekend in Montreal, Canada.