Yamaha Motor Co., Ltd. announced last week that it has established a new joint venture with the Chinese CFMoto for the production and sale of motorcycles in China. The name of the new company will be ZHUZHOU CF YAMAHA MOTOR CO., LTD. (ZCYM).
Yamaha has housed part of its production in China since 1992 and, together with its Chinese partner Chongqing Jianshe Mechanical and Electric Co., Ltd. a joint venture called Zhuzhou Jianshe Yamaha Motor Co. Ltd. (ZJYM) founded.
In a press release, Yamaha has now announced that it has reached an agreement with Jiansche to transfer the shareholding of ZJYM to ZHEJIANG CFMOTO POWER CO., LTD. (CFMoto) The name of the new company will be ZHUZHOU CF YAMAHA MOTOR CO., LTD. (ZCYM).
This joint venture is based on obtaining the approvals, permits required by competition laws and other laws and regulations. Yamaha Motor has positioned China as one of its key manufacturing and sales bases and will continue to discuss the direction of the joint venture with CFMoto in the future with the aim of further increasing competitiveness.
The ZCYM joint venture is scheduled to start in November 2023 in Lusong District, Zhuzhou City, Hunan Province China. CFMoto will own 50% share, Yamaha Motor 44.23% and the remaining 5.77% share will be held by Hong Kong-based TAIR YEA LIMITED. The new company will employ an estimated 500 employees.
– Thanks for information from Motorfreaks.