CFMOTO X YAMAHA
IWATA, September 15, 2023 - Yamaha Motor Co., Ltd. (Tokyo: 7272) announced todaythat an agreement was reached 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., Ltd. (ZJYM), transfer ZJYM’s equity interest to ZHEJIANGCFMOTO POWER CO., LTD. (CFMOTO). The name of the new business will be ZHUZHOU CFYAMAHA MOTOR CO., LTD. (ZCYM).This joint venture is premised on the acquisition of the clearances, permits, etc., required bycompetition 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.
1. Introduction of the Partnership:
- Upcoming partnership between Yamaha Motor and CFMOTO, commencing in November 2023 (pending official approval).
2. Partnership Name and Purpose:
- Officially named ZHUZHOU CF YAMAHA MOTOR CO. (ZCYM).- Primary objective: Production and sale of motorcycles in the crucial Chinese market for Yamaha.
3. Yamaha's Competitive Strategy:
- Strategic goal: Enhancing competitiveness in the Chinese motorcycle market.- Collaboration with CFMOTO, known for its strong sales network and brand recognition in China.
4. Equity Transfer:
- Equity transfer within the joint venture:- Chongqing Jianshe Mechanical and Electric Co., Ltd. transferring its equity interest in Zhuzhou Jianshe Yamaha Motor Co., Ltd. (ZJYM) to CFMOTO.
- Yamaha Motor retaining a 44.23% stake, while CFMOTO holds a majority share of 50%, and TAIR YEA LIMITED holds 5.77%.
5. Background of Yamaha Motor:
- Yamaha Motor: A global producer of motorcycles, boats, power tools, machinery, and robotics.- Presence in China since 1992 with established local branches and partnerships.
6. Introduction to CFMOTO:
- CFMOTO: A Chinese company founded in 1989, specializing in motorcycles, RVs, and related gear.- Operates in over 100 countries globally.
7. Significance of the Partnership"
- The significance for both Yamaha and CFMOTO in terms of strengths, capabilities, and market reach. Easily combining branding for better competitive power.
8. Future Outlook:
- Insights into anticipated developments resulting from the partnership, such as new motorcycle models, expanded market presence, or industry innovations.
Now Haters can't say much because Yamaha really made their name!
