Formula E: Series attempting to lure Chinese brand EV BYD

Adam Stern of Sports Business Journal reports that Formula E is in discussions with Chinese car company BYD to lure the EV giant into the racing series

BYD, which stands for Build Your Dreams, has become one of the most talked about names in the automotive and technology industries after overtaking Tesla as the top seller of EVs by volume globally in Q4 last year.

Formula E CEO Jeff Dodds confirmed to SBJ that executive leadership from Formula E has been selling BYD on the idea of entering the series as a manufacturer, and he noted that BYD has quietly been getting involved in the series recently through other avenues.

Namely, it has activated in the Formula E Fan Village at races this year in Mexico City and Sao Paolo. In Mexico City in January, it promoted its Song Plus DM-I hybrid car. In Brazil, BYD’s vehicles served as the official course cars for things like the safety team’s medical car.

Tesla has never entered Formula E despite being seen as the company that sparked the EV revolution. BYD doesn’t sell cars in the U.S. currently, but landing the company could help Formula E grow substantially in China, where it will hold a doubleheader in May