Zhongneng Vehicle Group: the group, its brands and who controls it
Facts checked
- Private
Zhongneng Vehicle Group was founded in Taizhou, Zhejiang, in 1988 by Chen Huaneng. It made refrigerator components before turning to scooters in the mid-1990s, launching the ZNEN brand in 1998, and it has since built a large scooter and moped business supplying its own brands and many rebadged models sold under other names in Europe and North America.
It bought the Italian marque Moto Morini outright in October 2018 for EUR10 million, taking 100% from the previous owner Ruggeromassimo Jannuzzelli and undertaking to keep production and plants in Italy. Moto Morini has since expanded its range with mid-capacity twins developed in Italy and built with Chinese components.
The group's other names include Fosti, Motowin, Fuxianda and electric-scooter brands. It has been a repeated defendant in European design disputes: Piaggio challenged ZNEN scooter design registrations on the ground that they resembled the Vespa, and European courts found against Piaggio in 2015 and 2018.
Key facts
| Chinese name | 中能车辆集团 “jong-NUNG chuh-LYAHNG jee-TWAN” 中 'central, China' + 能 'energy, capability'; 车辆 'vehicles', 集团 'group' |
|---|---|
| Legal name | Zhongneng Vehicle Group Co., Ltd. |
| Ownership | Private |
| Founded | 1988 by Chen Huaneng |
| Headquarters | Taizhou, Zhejiang, China |
| Vehicles | Motorcycles |
| Listings | Not listed |
| Founded | 1988 in Taizhou, Zhejiang, by Chen Huaneng |
| Moto Morini purchase | 100% of Moto Morini for EUR10 million, effective 12 October 2018 |
| Brand launch | ZNEN scooter brand launched in 1998 |
| Plants | Taizhou Bay facility of 230,000 square metres opened in 2017, after earlier plants in 2002 and 2009 |
| Other brands | ZNEN, Fosti, Motowin, Fuxianda and electric-scooter lines |
Ownership tree
- Zhongneng Vehicle Group (group)
- Moto Morini (brand) Held at 100%
Who controls Zhongneng Vehicle Group?
Chen Huaneng controls Zhongneng Vehicle Group since 1988.
Chen Huaneng founded Zhongneng Vehicle Group in 1988 and is described as its owner in coverage of the Moto Morini purchase. No percentage was published in the sources we read.
Brands
| Brand | Held | Origin | Founded | Models | Markets |
|---|---|---|---|---|---|
| 莫里尼Moto Morini | directly | Italy | 1937 | 0 | 3 |
Zhongneng Vehicle Group: questions people ask
- Who owns Moto Morini?
- Zhongneng Vehicle Group of Taizhou, Zhejiang, which bought 100% of the Italian company for EUR10 million with effect from 12 October 2018.
- Are Moto Morini motorcycles still made in Italy?
- Assembly has remained in Italy since the purchase, with the company undertaking to keep production and plants there. Many components come from China.
- What is ZNEN?
- ZNEN is Zhongneng's own scooter brand, launched in 1998 and sold worldwide, often rebadged by importers under local names.
Related
Sources for Zhongneng Vehicle Group
- Wikipedia, Znen. Read . Founding, founder, brand timeline, plants, Piaggio litigation, Moto Morini purchase price.
- MSL Magazine, How I sold Moto Morini to China's Zhongneng - Q&A with Jannuzzelli. Read . Zhongneng took 100% of Moto Morini from 12 October 2018.