China's electric vehicle drive moves it to the top of motorsport's agenda

Now the country is home to the world's biggest EV manufacturer, Formula E is making moves to attract Chinese companies

Earlier this year, it was announced that Chinese corporation BYD had overtaken the United States’ Tesla as the world’s biggest producer of EVs.

Two of the former’s other corporations - Geely and GAC - are also now among the global top-10 EV manufacturers.

China’s EV market size is estimated to be worth US$305.57 billion, which could increase to US$674.27 billion by 2029.

Another estimate indicates that 1 million EVs per month are currently being sold in China.

Globally, almost 14 million new electric cars were registered in 2023, bringing their total number on the roads to 40 million.

Electric car sales in 2023 were 3.5 million higher than in 2022, a 35% year-on-year increase.

Meantime, China has been heralded by some as having changed from being the world’s chief polluter to being its overall sustainability champion.

Formula Electric is an open-wheel single-seater motorsport championship for electric cars and is the highest class of competition for electrically powered single-seater racing cars.

The series is a United Nations certified net zero carbon sport.

Coincidentally, the inaugural Formula Electric championship race was held in Beijing in 2014, since when other Chinese races have been held in Shanghai and Sanya (a beach resort in the south of China).

There are now rumours that Formula Electric is trying to persuade BYD to join the series which, if it was to happen, would see the team competing alongside the likes of Nissan, Porsche, and McLaren.

Over the last ten years, China has at times struggled to sustain the development of its sport industry, though estimates suggest that its domestic market could be worth more than US$500 by 2025.

Electric motorsport presents an opportunity for the country to extend its profile and presence in the sport industry.

Embedding global sport in Chinese popular culture has long been a challenge, but if most people in the country are driving an EV then their engagement with series such as Formula E would seem to be more likely.

Not only would this have consequences for the environment, it would also impact upon the global balance of power in motorsport.