Zhang Xue poses for a group photo with his team's riders. (Photo/ZXMOTO)
Chongqing - “ZXMOTO” has surged as a trending keyword in China, representing both founder Zhang Xue and his motorcycle brand. A grassroots icon and fan favorite, Zhang led the brand to victory at the WSBK Portuguese round, propelling it from a niche circle into the mainstream spotlight.
Founded by Zhang in 2024, ZXMOTO achieved explosive popularity in just two years. Notably, the startup reached a valuation of 1 billion yuan (145.36 million U.S. dollars) within this timeframe, proving that its growth potential extends well beyond its founder's inspiring story. Beyond racing victories and sales figures, the company’s robust operational stability best proves its potential.
Cheng Junhua, General Manager of Zhejiang Venture Capital Group, has firsthand experience with this operational stability. In January, the group led a 90-million-yuan Series A investment in ZXMOTO, following a comprehensive due diligence process essential for startup investments.
In an interview with Zhejiang Daily, Cheng noted that during the due diligence phase, his team evaluated the company across various dimensions.
They observed that on-site management was highly authentic, with employees demonstrating genuine focus regardless of the founder's presence. Furthermore, documentation standards were rigorous; spot-checked documents and prototype blueprints meticulously matched and were fully verifiable.
Regarding the supply chain, Zhang's approach prioritized collaborative growth with suppliers rather than aggressive price-squeezing. Finally, the company's business model proved solid, as product and sales data were completely traceable, forming a mature closed loop.
This operational stability is closely tied to Zhang's management style. Cheng recalled their first meeting, where Zhang was loudly assigning tasks in the hallway, his voice carrying across several offices. This initially made Cheng question whether Zhang could effectively manage a corporation.
However, after in-depth discussions, Cheng observed that the team’s acceptance of Zhang's approach far exceeded external expectations. He summarized that despite his strong personality, Zhang acts as a powerful unifying force—a crucial trait for gathering the talent necessary for long-term development.
Zhang himself embodies a resilient spirit. During a group interview on March 30, he stated, “when encountering a problem, the entire team commits to overcoming it. Whether it takes a day, a week, or a month, resolving the core issue ensures the rest falls into place.”
This drive stems from Zhang’s profound passion for motorcycles. From his childhood dream of becoming a racer, to gaining hands-on experience in a motorcycle factory, and eventually founding his own brand, he has remained deeply committed to manufacturing technology and product performance.
Leveraging his keen understanding of rider needs, Zhang continuously optimizes engine designs and innovates internal structures to elevate performance. In fact, the primary reason Zhang left his previously co-founded brand, Kove Moto, to start anew was his insistence on heavily investing in R&D and motorsport. At the time, his former investors preferred rapid monetization over long-term technological development.
The industry has proven ZXMOTO’s "R&D-and-racing" development model. Several Chinese motorcycle brands have successfully followed the trajectory of winning races, achieving brand virality, attracting capital, and experiencing market explosion.
For instance, CFMOTO’s participation in the MotoGP World Championship—culminating in the 2024 Moto3 rider, team, and manufacturer world titles—directly accelerated its global expansion. ZXMOTO follows this exact playbook: validating technological prowess through motorsport, leveraging technology to attract capital, and utilizing capital to accelerate market expansion.
Focusing on mid-to-large displacement motorcycles, the firm faces promising market prospects. According to Guolian Minsheng Securities, both domestic sales and exports of mid-to-large displacement motorcycles in China will maintain strong momentum in 2026.
Domestic sales are projected to reach 477,000 units, while exports are expected to hit 718,000 units, representing year-on-year growth of 10.5% and 33.0% respectively. Displacement upgrades remain the primary trend, with the 500cc–800cc segment projected to account for 25% of domestic sales and 20% of exports.
Guolian Minsheng Securities also suggests that as independent Chinese motorcycle enterprises focus on mid-to-large displacement products, build on the momentum of hit models, drive regional breakthroughs, and cultivate brand culture, they are transitioning from mere manufacturing export to comprehensive system export, paving the way for sustainable global expansion.