Yamaha names CFMOTO as new partner for Chinese market

MANILA: Yamaha Motor Co. Ltd. announced that it will soon partner with CFMOTO for its manufacturing operations in China. 

According to the Japanese motorcycle company, it has come to an agreement with Chongqing Jianshe Mechanical and Electric Co., Ltd. — its current partner for the Chinese region — to transfer its equity interest to CFMOTO. 

Yamaha’s joint venture with CFMOTO is slated to commence in November, 2023. Through it, a new company will be established and will be named Zhuzhou CF Yamaha Motor Co. Ltd. It will have approximately 500 employees. 

In terms of company shares, CFMOTO will hold the biggest stake at 50 percent. Yamaha follows with a 44.23-percent share while the remaining 5.77 percent will be allocated to a company called Tair Yea Ltd. 

The said joint venture is premised on the acquisition of the clearances and permits required by competition laws and other laws and regulations.

“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,” Yamaha said in a press release. 

CFMOTO, on the other hand, wrote in a different statement that the two companies “will continue to discuss the direction of the joint venture with the aim of further raising competitiveness.” 

Photo from CFMOTO

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