Yamaha Motor Co., Ltd. has announced a change in its partner for its motorcycle manufacturing joint venture in China.
The company will now collaborate with ZHEJIANG CFMOTO POWER (also known as CFMOTO), a leading motorcycle and RVs manufacturer and seller in China, instead of Chongqing Jianshe Mechanical and Electric which is their current partner.
This fresh partnership, which is set to kick off in November 2023 (pending official approval), will be named ZHUZHOU CF YAMAHA MOTOR CO. (ZCYM). Their main goal is to make and sell bikes in China, a crucial market for Yamaha.
Yamaha Motor aims to enhance its competitiveness in the Chinese market by collaborating with CFMOTO, which has a strong sales network and brand recognition in China.
The current partner, Chongqing Jianshe Mechanical and Electric Co., Ltd., will transfer its equity interest in the joint venture, Zhuzhou Jianshe Yamaha Motor Co., Ltd. (ZJYM), to CFMOTO.
Yamaha Motor will retain its 44.23% stake in the joint venture, while CFMOTO will hold 50% and TAIR YEA LIMITED will hold 5.77%.
For some background, Yamaha Motor is a worldwide producer of motorcycles, boats, power tools, machines, and robots. They’ve been in China since 1992 and have multiple local branches and partnerships.
On the other hand, CFMOTO, founded in 2003, is a Chinese firm specializing in motorcycles, RVs, and related gear. They operate in over 100 countries globally.
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