Yamaha Motor Co has announced today that it has reached an agreement to have Chongqing Jianshe Mechanical and Electric Co Ltd, a current partner of the company's motorcycle manufacturing joint venture in China, Zhuzhou Jianshe Yamaha Motor Co (ZJYM), to transfer ZJYM's equity interest to Zhejiang CFMoto Power Co (CFMOTO). The name of the new business will be Zhuhou CF Yamaha Motor Co (ZCYM).
Headquartered in Hunan Province, the planned start of the ZYCM JV is slated for November 2023. While CFMOTO will have a 50% stake in the JV, Yamaha will have 44.23% and Tair Yea Ltd 5.77 percent.
CFMOTO, set up in December 2003, manufactures and sells motorcycles, RVs (ATVs and ROVs) and accessories.
Yamaha Motor states that it “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.”