BYD is exploring a potential entry into Formula 1 racing — including founding or acquiring a team — which would make it the first Chinese automaker in the sport, Bloomberg reports. The EV giant is also weighing participation in the World Endurance Championship as it builds overseas manufacturing facilities and enters new markets. BYD overtook Tesla as the world’s top EV maker last year, and last month sold more vehicles overseas than domestically for the first time. The brand produces high-performance supercars through its Yangwang sub-brand, including the U9, priced at around $250,000.

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