CFMOTO

What does CFMOTO manufacture?
CFMOTO manufactures all terrain vehicles (ATVs), side by sides (SSVs/UTVs), gasoline powered motorcycles (125cc to 800cc), and electric two wheelers under the ZEEHO brand. The company's product range covers sport bikes, street bikes, adventure touring bikes, cruisers, utility vehicles, and electric motorcycles. In FY2025, the company sold 197,000 ATVs, 295,900 gasoline motorcycles, and 551,200 electric two wheelers.

Where is CFMOTO headquartered?
CFMOTO is headquartered in Hangzhou, Zhejiang, China. The company maintains manufacturing facilities in China, Thailand, and Mexico, with R&D centers in Hangzhou, Shanghai, Europe, and the United States.

When was CFMOTO founded?
CFMOTO was founded in 1989 by Lai Guogui as a motorcycle parts workshop in Wenzhou. The company was formally established as Zhejiang Chunfeng Power Co., Ltd. in 2003 and was listed on the Shanghai Stock Exchange in August 2017.

Is CFMOTO publicly traded?
Yes, CFMOTO is publicly traded on the Shanghai Stock Exchange under the ticker symbol 603129, trading as Zhejiang Chunfeng Power Co., Ltd. The company has been listed since August 2017.

Who founded CFMOTO?
CFMOTO was founded by Lai Guogui in 1989. He started the company as a motorcycle parts workshop with his son in Wenzhou before relocating to Hangzhou. Lai Guogui continues to serve as President, while his son Lai Minjie serves as CEO.

What is CFMOTO's annual revenue?
For fiscal year 2025, CFMOTO reported total revenue of RMB 19.75 billion (approximately $2.73 billion), up 31.3% year over year. Net profit attributable to shareholders was RMB 1.68 billion, up 13.8%. Overseas revenue accounted for 69.8% of total sales at RMB 13.79 billion.

What is CFMOTO's market position?
CFMOTO is the dominant ATV exporter from China, with 74.0% of China's total ATV export value in 2025. The company holds the No. 1 market share in the UK ATV and UTV market and claims the top position in European ATV market share. In China, CFMOTO's 200cc and above cross bike sales rank first in the industry, and its SR series holds a 36.2% market share in the sport bike segment. The company distributes through 3,100+ dealers across 100+ countries.

What is CFMOTO's relationship with KTM?
CFMOTO and KTM entered a commercial partnership in 2011 and established a joint venture called KTMR2R in 2017. The joint venture allows CFMOTO to produce and sell KTM motorcycles in China, assemble small displacement KTM models, and produce larger displacement KTM engines. The CFMOTO KTM Factory was completed and began operation in August 2020 in Hangzhou.

What is the ZEEHO brand?
ZEEHO is CFMOTO's electric two wheeler sub brand, launched in December 2020. The brand focuses on high end electric mobility and experienced explosive growth in FY2025, with revenue surging 381% to RMB 1.91 billion and unit sales reaching 551,200, up 420% year over year. ZEEHO products include the AE8 series, MO1i series, AE4 series, AE7 series, and EZ2i and EZ4 series. The brand has 2,050+ retail stores and operates in 30+ countries.

What is the GOES brand?
GOES is a complementary European market brand used alongside CFMOTO in a dual brand strategy for all terrain vehicles. The CFMOTO and GOES dual brand approach has helped the company maintain its No. 1 market share position in the European ATV market.

CFMOTO was established in 1989 by Lai Guogui, then a 24 year old farmer in Wenzhou, who founded a motorcycle parts workshop with his son. The company, originally called Chunfeng (meaning "Spring Wind" in Chinese), began by manufacturing motorcycle components.

From 1992 to 1998, the company successfully developed products including the cylinder head, a core component of a 125cc engine, and water cooled two wheeled scooters. In 2003, Chunfeng Holding Group Hangzhou Motorcycle Manufacturing Co., Ltd. was formally established. In 2006, the company relocated entirely to Hangzhou. In 2007, CFMOTO established its first overseas subsidiary, CFMOTO Powersports, in Minnesota, USA.

CFMOTO became the first Chinese ATV manufacturer, unveiling a 500cc vehicle that established the brand as an international supplier of powersports vehicles. Over the following years, utility vehicles (UFORCE) and sportier side by sides (ZFORCE) were developed to complete CFMOTO's all terrain line of vehicles.

In 2011, CFMOTO and KTM entered into a commercial partnership that proved transformative for the company's international expansion. In 2017, the two companies started a joint venture called KTMR2R, which allows the production and sale of KTM motorcycles in China. CFMOTO also assembles small displacement models on behalf of KTM in its Chinese factories and produces larger displacement KTM engines. The CFMOTO KTM Factory was completed and began operation in August 2020.

In August 2017, CFMOTO was listed on the Shanghai Stock Exchange as Chunfeng Power with the code 603129, providing access to capital markets for expansion. In 2013, the CFMOTO 650NK, after being modified for racing, participated in the Isle of Man TT, marking a significant milestone for the brand.

In December 2020, CFMOTO launched its electric motorcycle sub brand ZEEHO, positioning the company for the growing electric mobility market. In December 2021, the Thailand manufacturing base was completed and began operation. In September 2022, CFMOTO made its debut in the Moto3 class of Grand Prix motorcycle racing, marking its entry into premier motorcycle racing competition.

In September 2023, CFMOTO signed a cooperation agreement with Yamaha to establish a joint venture called Zhuzhou Chunfeng Yamaha Motorcycle Co., Ltd. CFMOTO holds a 50% stake in the joint venture, with Yamaha Motor Co., Ltd. holding 44.23% and Taiwan Asia Limited holding 5.77%.

CFMOTO also became the designated manufacturer of China's state guest escort motorcycles, a prestigious designation that underscores the company's manufacturing quality and national significance.

In 2025, CFMOTO achieved record financial results with total revenue of RMB 19.75 billion, up 31.3% year over year. The ZEEHO electric brand experienced explosive growth, with revenue surging 381% to RMB 1.91 billion and sales volume reaching 551,200 units, up 420% year over year. The company expanded its global dealer network to more than 3,100 outlets and began rolling out its CFLite brand in Latin America and Asia for more price sensitive commuter markets.

CFMOTO has implemented sustainability initiatives focused on electric vehicle development, manufacturing efficiency, and environmental responsibility. The company's strategic priorities include "globalization, electrification, and intelligence" as core development directions.

Electric vehicle development is a core priority, with the ZEEHO brand representing CFMOTO's commitment to sustainable transportation. The company has developed in house capabilities for electric vehicle "three electric" systems (battery, motor, controller) with forward design capabilities covering both two wheel and four wheel vehicle applications. ZEEHO's explosive growth in 2025, with revenue up 381% and unit sales up 420%, demonstrates the company's accelerating transition toward electric mobility.

CFMOTO has invested in smart manufacturing technologies, including high precision automated production lines, intelligent inspection equipment, industrial robots, and smart warehousing and logistics. The company promotes a lean production system designed to meet large scale customized demand while building "efficient, flexible, green, digital smart factories" that advance digital and green transformation.

The company has obtained 2,119 valid authorized patents as of December 2025 and has participated in 71 national, industry, and group standard formulations, demonstrating its role in advancing industry standards and technology. CFMOTO has been recognized as a National Enterprise Technology Center and National High Tech Enterprise.

Note: CFMOTO does not hold independently verifiable sustainability certifications such as B Corp, CDP disclosure, or SBTi targets as of the date of this article. The company's sustainability claims are based on its own reporting and corporate initiatives.

CFMOTO has received recognition for its manufacturing excellence, product innovation, and market leadership in the powersports industry.

• National Enterprise Technology Center: Recognized by the Chinese government for R&D capabilities and innovation
• National High Tech Enterprise: Recognition for technology advancement and innovation
• National Industrial Design Center: Recognition for industrial design excellence
• UK ATV and UTV Market Leader: No. 1 market share position in the United Kingdom, citing Agricultural Engineers Association registration data
• European ATV Market Share Leader: No. 1 position in European ATV market through CFMOTO and GOES dual brand strategy
• China ATV Export Leader: ATV export value accounting for 74.0% of China's industry total in 2025
• Moto3 Participation: Competed in Grand Prix motorcycle racing since 2022, showcasing technological capabilities
• Isle of Man TT: CFMOTO 650NK participated in the historic race in 2013

CFMOTO operates under regulatory scrutiny related to product safety, manufacturing standards, and market competition in the highly regulated automotive and powersports industry.

Product safety and quality control: As a Chinese manufacturer expanding into Western markets, CFMOTO faces scrutiny regarding manufacturing standards, vehicle safety features, and quality assurance processes. The company must comply with international safety standards across its diverse product range, including EPA and DOT regulations in the United States and equivalent standards in Europe and other markets.

Brand perception challenges: CFMOTO faces ongoing perception challenges in established Western markets where Chinese manufacturing has historically been viewed with skepticism. The company has addressed this through partnerships with KTM and Yamaha, participation in Moto3 racing, and progressive product quality improvements to build credibility with international consumers.

Intellectual property and technology transfer: CFMOTO's partnerships with KTM and Yamaha have drawn attention regarding technology licensing, intellectual property rights, and technology transfer arrangements. The KTMR2R joint venture and Yamaha joint venture involve complex arrangements for technology sharing and manufacturing cooperation.

Regulatory compliance across markets: CFMOTO must navigate complex regulatory requirements across multiple countries and jurisdictions, including emissions standards, safety certifications, and import regulations. The company's manufacturing presence in China, Thailand, and Mexico helps address trade and tariff considerations in different markets.

Competition with established manufacturers: CFMOTO competes against established Japanese manufacturers (Honda, Yamaha, Kawasaki, Suzuki), American manufacturers (Polaris, BRP), and European brands (KTM, BMW, Triumph) in global powersports markets. The company's aggressive pricing and rapid product expansion have disrupted traditional market dynamics.