Early Life
Lai Guogui was born in Guangzhou, China in December 1947. He moved to Hong Kong at the age of 12. Lai's entrepreneurial journey began in rural Wenling, Zhejiang province. Inspired by his father, a farmer who pioneered mechanized farming, Lai displayed a natural business acumen and a passion for innovation.
Rise to Success
In 1989, Lai established a modest motorcycle parts factory, which became the genesis of CFMOTO. CFMOTO's early focus was on producing components, which then evolved to complete engines and ultimately, motorcycles and ATVs. During China's economic awakening, motorcycles became increasingly popular. Lai's vision was to build a company, establishing CFMOTO's presence on the world stage, challenging established players, and redefining the perception of "Made in China."
Key Business Strategies
CFMOTO focused on innovation and development to build upon its core product. A significant milestone came in 2017 with the establishment of a joint venture with KTM, focusing on producing high-performance KTM motorcycles for the Chinese market. This collaboration improved the company's standing as a global player in the motorcycle industry.
Philanthropy
Specific philanthropy amounts for Lai Guogui & family could not be found.
