CFMOTO is Yamaha’s new business partner in China
It’s no secret that CFMOTO manufactures many of KTM’s motorcycle components, including engines that power the Austrian company’s big bike models. Just recently, Yamaha Motor Co. Ltd. announced that CFMOTO will be their new joint venture partner in China.
The official statement confirmed the planned change of ownership of the Chongqing Jianshe Mechanical and Electric Co., Ltd. (CJMEC). CJMEC was Yamaha’s joint venture partner in China for the Zhuzhou Jianshe Yamaha Motor Co. Ltd. (ZJYM).
The equity interest of ZJYM is scheduled to be transferred to CFMOTO this coming November.
According to the announcement, the new joint venture business will be named ZHUZHOU CF YAMAHA MOTOR CO., LTD. (yes, all caps) and already has 500 employees. CFMOTO will own 50% of the new company, while Yamaha will own 44.23%. The remaining 5.77% will be owned by Tair Yea Limited Holding.
“Yamaha Motor has positioned China as one of its important production and sales bases and will continue to discuss the direction of the joint venture with CFMOTO going forward with the aim of further raising competitiveness,” says Yamaha in an official statement.
Keyword: CFMOTO and Yamaha announces joint venture in China