Exclusive details have emerged regarding a series of high-level meetings held by a senior executive from BYD Company Limited with the leadership of Formula 1 and its governing body during the Monaco Grand Prix weekend.

Vice President of BYD, Li Ke, engaged in discussions with Stefano Domenicali, the CEO of Formula 1, on Friday. This was followed by a meeting with Mohammed Ben Sulayem, the President of the Fédération Internationale de l'Automobile (FIA), on Saturday.

These meetings underscore the significant interest that the global automotive manufacturing giant, BYD, is showing in the world of Formula 1 racing.

Earlier this year, Li Ke publicly confirmed the company's interest in F1 to the media. In an interview, she candidly discussed the reasons behind BYD's exploration of the sport.

When asked about the appeal of Formula 1, she stated, "I think Formula 1 is full of pure energy, it connects with people emotionally, and there is its culture." She added, "For BYD, we are a technology leader."

There is also speculation that BYD might explore acquiring another team—though none are currently publicly for sale—or purchasing a significant stake in an existing outfit. One potential target mentioned is the 24% stake in the Alpine team currently held by Otro Capital.

Li Ke did not confirm that establishing an entirely new BYD team was the top priority. Instead, she indicated the company is evaluating all available options. She remarked, "We are looking at any opportunity to see if BYD's technology can help the FIA, can help all the other teams."

"Secondly, as BYD, we also need to build the brand here. This is the scope of our target," she concluded.