(Yicai) July 9 -- Zhangxue Machinery Industry, also known as ZXMOTO, which became the first Chinese motorbike team to win a title at the World Superbike Championship, plans to build a factory with an annual production capacity of 500,000 units in Chongqing.

ZXMOTO inked an agreement with CMCU Engineering yesterday, with the latter responsible for the design work of the new research and production base, the Chongqing Municipal Commission of Economy and Information Technology announced on WeChat on the same day. The engineering firm is an affiliate of state-owned China National Machinery Industry.

Established in April 2024, ZXMOTO secured a double victory in the World Supersport category at the Superbike World Championship's Portuguese round at the end of March. It then won four more titles in Hungary, the Czech Republic, and Emilia-Romagna rounds in Italy.

After its first win, ZXMOTO saw a significant boost in its visibility in China and an overall surge in orders. Its overseas orders in April were equivalent to the total for the entire previous year, placing higher demand on its production capacity, the company pointed out.

The new factory will feature capabilities for large-scale production, intelligent manufacturing, and high-end brand display, ensuring that production processes are adaptable to product iteration and upgrades over the next decade, ZXMOTO pointed out. The facility will serve as a key strategic layout for the firm to build a world-class brand, it stressed.

ZXMOTO has three models: the 500RR priced at CNY29,980 (USD4,405), the 500F also priced at CNY29,980, and the 820RR priced at CNY43,800. Founder Zhang Xue has said that sales could reach 60,000 units this year, likely bringing revenue of about CNY1.8 billion (USD264.7 million).

Editor: Martin Kadiev