Formula Student is a competition held for students from different universities that mimic real-world performance motorsport racing such as Formula One. This study presents the perceptions of students and staff on the Formula Student Electric China (FSEC) team initiative in a Sino-foreign higher education institution in China. The literature showed that the FSEC and similar competitions aligned to the Problem Based Learning paradigm seek to broaden the students' knowledge and abilities. The study had explored the views and opinions of those involved, focusing on the benefits to the teaching and learning process. The qualitative paradigm was selected for this study of the process as it mainly focused on the human aspect, such as ideas, thoughts, feelings, and personal opinions about the FSEC. Data was collected through interviews with the students and staff, through process observations of the activities and a review of related activities documents and literature. A total of five key themes outlining the benefits of FSEC for students' learning and student experience were identified through thematic analysis. The Formula Student project creates an environment where the students are highly motivated to seek their knowledge through active learning and proactively engaged with their peers and related stakeholders, thus benefiting them with a rewarding educational experience. The findings will benefit future endeavors in planning for competition involvement and ensuring students' learning is also achieved as part of their university life experience.