Motex are the company that set up the deal for engines between Zongshen and Norton. They also sourced engines for the revival of Fantic from Zongshen.
Chinese motorcycle 'royalty' Zuo Zongshen built up his company from humble (bicycle repair) beginnings in a story that parallels Honda.
Zongshen is currently the 3rd biggest exporter of motorcycles from China (exporting a full range of types and models) and has recently concentrated on its electric vehicle division which is gaining world recognition for its advanced research and development and racing success.
Zongshen currently enjoys company assets of over 1.18 billion RMB, employs more than 2800 staff and has a potential output capacity of 3 million motorcycles.
Zongshen has built factories in Thailand and Brazil and has established offices in Latin America, Nigeria, Pakistan and the Philippines. The 'Zongshen' brand-name has been trademarked in 84 countries.
The average revenue for yearly export (export only) is roughly USD$ 200 million dollars.
Zongshen is one of the rare Chinese motorcycle companies that has competed at high lever FIM racing events. Zongshen's electric racing team has recently won a competition in Germany.
Norton Motorcycles and Zongshen have entered into a 20-year “Design and License” agreement over an all-new 650cc twin engine.
The 650cc twin engine jointly engineered and developed by Norton and Ricardo has been specifically designed to the requirements of Zongshen and will be Euro 4 compliant.
This enables Zongshen to meet current and future emissions regulations, clearly an important step for Zongshen and enables them to continue their phenomenal growth in the global motorcycle market.
The engine and its' IP developed by Norton is specific and exclusive to Zongshen and it is expected the engine will be produced under the Zongshen or Cyclone brands.
The value of the deal is to remain private, but the initial consideration paid to Norton is in the millions of dollars with an ongoing royalty on each engine produced.
The agreement is for a 20-year term.
Last year Zongshen produced around 4 million engines.