LONDON – Electric vehicle giant BYD is interested in getting involved with the Formula One motor racing circuit as it aims to boost its brand outside its home market of China, where it already has a strong foothold.However, becoming F1’s first Chinese outfit would be expensive and linking up with an existing team poses challenges, so a sponsorship-based approach might provide an easier pathway into the sport."Everyone wants to be involved with F1," said Ian Moore, a research analyst from Bernstein. "It’s because it’s the greatest marketing vehicle for OEMs (Original Equipment Manufacturers) that’s out there.”Liberty Media-owned F1 already contains…