IWATA, September 15, 2023
- Yamaha Motor Co., Ltd. (Tokyo: 7272) announced today that 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 ZHEJIANG CFMOTO POWER CO., LTD. (CFMOTO). The name of the new business will be ZHUZHOU CF YAMAHA MOTOR CO., LTD. (ZCYM).
This joint venture is premised on the acquisition of the clearances, permits, etc., 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.
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