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CFMOTO was established in 1989 by Lai Guoqiang. [4] In 2013, it began to be involved in the construction of high-end yachts. [5] In 2011, CFMOTO and KTM entered into a commercial partnership. In 2017, the two companies started a joint venture [6] [7] that allows the production and sale of KTM motorcycles in China under the name of "KTMR2R". [8]