CFMOTO, the Chinese powersports company, has made several top level management changes to its U.S. subsidiary based in suburban Minneapolis, according to sources close to the company. The changes include beefing up the management team with outside professionals and a shift in responsibility for Lev Mirman, the former president of the U.S. operation, CFMOTO Powersports.
Mirman retains his equity position with about a 10% ownership of the U.S. operation. Under the new setup, Mirman will focus on legal and regulatory concerns involving CARB, DOT and EPA.
The company declined to discuss the changes in any detail when I contacted the CFMOTO office today.
The new management team is designed to increase efficiencies, and help the company expand its product portfolio into new areas beyond its ATV, scooter and motorcycle products, sources told me. CFMOTO has about 200 U.S. dealers, down from a high of about 215, but it has been adding dealers this year, the company said.
CFMOTO is one of the few Chinese manufacturers that has established its own subsidiary in the U.S., similar to the Japanese models in which the manufacture manages its own brand through its own manufacturing and distribution channel. Most other Chinese and Taiwanese companies simply hire independent importer/distributor companies to handle their products in this market.
CFMOTO’s parent company, ChunFeng Holding Group, Ltd., was established in 1989. The group has eight wholly-owned subsidiaries engaged in manufacturing of liquid cooled engines, scooters, motorcycles, vehicle parts and accessories, and investments. The largest engine it manufactures is a 500cc unit, and the smallest is 50cc. JD
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