Yamaha Motor Changes Partner for Chinese Motorcycle Manufacturing Joint Venture
September 18, 2023 at 02:22 pm IST
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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.
Yamaha Motor Co., Ltd. specializes in the construction and marketing of motorcycles, all terrain vehicles and boats. The group also develops engine manufacturing activity. Net sales break down by family of products as follows:
- sale of motorcycles (65.3%): 4.8 million units sold in 2022. Yamaha Motor Co., Ltd. also offers all-terrain vehicles, off-road recreational vehicles, snowmobiles and electric bicycles;
- manufacturing of marine motor equipment and watercraft (23%): ooutboard engines, jet skis, fishing boats, utility boats, etc. ;
- sale of industrial machines and robots (5.2%);
- provision of financial services (2.8%);
- other (3.7%): primarily golf carts, snow blowers, generators and multi-purpose engines and automobile engines and components.
Net sales are distributed geographically as follows: Japan (7.3%), Asia (40.1%), North America (25.3%), Europe (13.9%) and other (13.4%).