British motorcycle Brand Norton sold the rights to the 961engine platform before the firm went into administration. According to the latest reports, Norton’s then CEO Stuart Garner and Chinese company Jinlang’s CEO Wu Huacong finalized the deal just before the Norton brand formally slipped into administration. According to a report coming from a Chinese site, a strategic alliance agreement was signed which sees Jinlang may take over the manufacture of the motors and supply of parts to 961 owners worldwide. The Chinese company could also hold production and performance rights, meaning Jinlang could make the engine for use in other versions under its name in the future.
According to reports, Jinling now says the bargain with Garner was performed before the famous British brand dropped into administration, and so the engine deal is another case, and so Jinlang technically owns rights to the 961 engine stage. That bike, Jinlang states, will be marketed globally.
Motorcycles Stuart Garner is under evaluation by the UK Pension Regulator over three pension schemes that spent into Norton Motorcycles. The British motorcycle marque has been placed into administration after confronting a wind-up order above a tax debt of GBP 300,000 (around $ 2.8 crore).
Norton Motorcycles was founded in Birmingham in 1898, and started making motorcycles in 1902, and was Famous for its participation in motorsport, such as the Isle of Man TT. Among the most famous Norton versions are the Dominator and Commando, models which were revived in 2015 following British businessman Stuart Garner purchased the Brand’s rights back from American possession in 2008. Almost led to the collapse of Norton only four years later Garner took ownership. In November 2019, the brand launched a shared strategy targeted at increasing cash, which was later withdrawn after Norton attempted to receive alone investors on board. Users can check here for the latest cars and bikes in the world.