Full charge: Is China becoming motorsport's hottest market?

The smell of the rubber in the air, the sound of a roaring… well, the engines of Formula E cars may not roar, given that they are fully electric, but that has done nothing to diminish the buzz around the circuit.

Last Saturday (June 20), the Sanya E-Prix returned to the Formula E calendar after a lengthy absence, appearing on the schedule only once before in 2019.

Chinese fans will not have to wait nearly as long for the next race, however, as the championship returns with a Shanghai double-header at the beginning of July.

While the return of the Sanya Street Circuit was a welcome addition, delighting fans and locals alike, its significance extends beyond the racing itself. It also means that China is the only country to host three E-Prix events this season.

Perhaps that should come as little surprise.

Formula E is an all-electric championship, and when it comes to electrification, China stands in a league of its own. The country produces more electric vehicles than the rest of the world combined.

As such, it is only logical that Formula E is looking to strengthen its presence in the country. The championship's commitment to the market is further reflected in the confirmation that next season will again feature three Chinese E-Prix events, more than any other country on the calendar.

But the reasons behind that go beyond business alone. Motorsport is booming in China, largely due to the popularity of Formula 1, fueled by a young, tech-savvy audience that is rapidly embracing the sport. Perhaps most notably, nearly half of the country's F1 fans are female.

Many attribute the sport's surge in popularity to the so-called "Zhou effect" – the arrival of Chinese driver Zhou Guanyu in Formula 1 in 2022. As the country's first full-time F1 driver, Zhou sparked a significant rise in domestic interest, helping to cultivate a passionate fanbase and a thriving merchandise-trading culture.

That love for F1 and motorsport in general has not diminished even after Zhou's departure from the grid in 2024, something racing series are looking to capitalize on.

Now firmly established on the calendar, China is nevertheless absent from the Formula E grid itself, with no Chinese drivers or teams competing this season.

Nor is there a Chinese manufacturer currently involved as a constructor. The closest link is Envision Racing, which is majority-owned by Shanghai-based Envision Energy and remains the most prominent China-backed team in the championship.

However, that could change in the coming years. Formula E has previously featured Chinese-owned outfits, most notably the championship-winning NEXTEV/NIO team, and the series has been actively courting major Chinese electric vehicle manufacturers.

A Chinese presence could return in one of two ways: through the acquisition of an existing team by a Chinese brand or investment group, or via the entry of a Chinese automaker as an official manufacturer developing its own powertrain. Formula E leadership is understood to be in ongoing discussions with several Chinese manufacturers.

Of the two routes, an acquisition appears the more likely. Historically, Chinese automakers have been slower than their European and Japanese counterparts to embrace motorsport as a marketing platform. However, Formula E believes that attitude is beginning to shift as the country's automotive industry continues to expand its global reach.

But the all-electric racing series is not the only one in the crosshairs of Chinese EV giants. Rumours suggest that BYD has been engaged in high-level discussions with Formula 1 officials over the possibility of joining the grid.

Reports indicate that BYD prefers full control over any motorsport programme and has held talks with former Red Bull Racing team principal Christian Horner about leading, and potentially co-owning, a brand-new F1 project.

While launching a new team would involve significant challenges, both Formula 1 and the FIA are reportedly supportive of bringing the Chinese automotive giant into the sport.

So whether through Formula E or Formula 1, Chinese motorsport fans may soon have a homegrown team to support on the world stage.