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Are you sure most car manufacturers compete in F1, the correct answer should be most car manufacturers do not compete in F1. F1 is a distraction and money burner.

There are currently No Japanese or Korean car manufacturer in 2010 F1, GM, Ford and Chrysler are also not into F1. Tata is not into F1. Fiat, Maserati, Lamboghini are not into F1 too. Only a few car makers are in F1.
 

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looking at it objectively there's no reason why any Chinese company wouldn't be involved

India are involved. They own Force India.

It just takes the ability to throw away USD$100+ mil. a year...
 

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I saw BYD F1 truck in the shanghai caton fair, I can't remeber clearly. And many visitors took photos with the player.
 
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