KTM sign deal with CFMoto
KTM have signed a deal with Chinese manufacturer CFMoto to set up a joint venture business. The deal was signed to improve KTM's access to the Chinese market, with an eye on manufacturing bikes using KTM technology.
The deal was signed last week but awaits approval from Chinese authorities.
KTM first partnered with CFMoto several years ago, with the Chinese firm being responsible for the distribution and assembly of KTMs in the region. KTM will hold 49% equity in the new business, which will be known as CFMoto-KTMR2R.
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"The joint venture will not only strengthen the presence of KTM in the Chinese market, but also jointly develop and produce products to continue the global expansion course," KTM said in a press release.
CFMoto already have more than 1500 partners, and the company has developed over 98 vehicle models and 51 engine models for distribution in more than 70 countries and regions.