Known as the "Lei Jun of the motorcycle circle", champion ZHANG Xue's thrilling journey on the road

Header photo by Deng Pan

Zhang Xue excitedly waved the red flag. "I've been waiting for this moment for 20 years... We've won!"

On March 28th, Zhang Xue Motorcycle won the championship at the Portuguese round of the WSBK (World Superbike Championship) with an advantage of nearly 4 seconds, becoming the first Chinese manufacturer to top an international medium and large displacement motorcycle event. On the other hand, at the WSBK viewing carnival on Chongqing's Guangyang Island, Zhang Xue was in tears of joy.

After winning the championship, he posted a video, saying, "Sometimes when you do something, you're not aiming for the result, but doing it out of love. Maybe the result will really be different."

It took Zhang Xue 20 years to reach this moment.

In 1987, Zhang Xue was born in a small mountain village in Huaihua, Hunan. As a child, he loved motorcycles. "He loved them to the extreme," Zhang Xue told China Entrepreneur. Because he had no money, he had to "achieve his goal indirectly" to gradually realize his dream of becoming a racing driver. After graduating from junior high school in 2003, he first became an apprentice in a motorcycle repair shop. At the age of 17, he opened his own repair shop. In the following 20-odd years, his entire life revolved around motorcycles: being a full-time racing driver, working in a motorcycle company, assembling and selling motorcycles, until he started his own business to build his own motorcycles.

There was only one thing in his mind: motorcycles. "He didn't think about anything else."

On Zhang Xue's office desk, there was a palm-sized sign that read "Don't yell," which was bought by the minister of the company's general affairs department for him - to make him lose his temper less often.

Photo by Hu Nannan

In the industry, he was well-known for his short temper. An employee of Zhang Xue Motorcycle Industry Co., Ltd. (hereinafter referred to as Zhang Xue Motorcycle) heard before joining the company that "General Manager Zhang is very strict and scolds people easily," and was reminded to be careful. But after working with him, he felt that "he is strict with the work, not the person. It's not really scolding, just speaking a bit louder." An employee in the R & D department described to the reporter that before entering the R & D room, Zhang Xue was smiling, but as soon as he entered, his face became serious.

When inspecting the work in various departments of the company, he would suddenly appear behind a colleague's workstation and watch him work. Sometimes he would point at their computers and start communicating. Sometimes he would suddenly raise his voice so loudly that the whole office area could hear - he was angry again.

I guess I've hurt my colleagues who work with me to some extent. I never mince my words when I speak. I don't think about saving face. I just say what I want to say directly. Zhang Xue said that he was also aware of his problem and even thought it was "a sign of incompetence," but it was subconscious. "It just happens, and if you can't hold it back, what can you do?"

During the interview, he also showed this characteristic. In January this year, China Entrepreneur conducted an exclusive interview with Zhang Xue at the headquarters of Zhang Xue Motorcycle in Chongqing. When answering a question, he would suddenly raise his voice and then soften his tone a few seconds later. This is one side of the coin.

The other side of the coin is his "stubbornness" - Zhang Xue showed this "stubborn" character very early.

There was a widely circulated video on the Internet. At the age of 19, he chased the crew's car on his motorcycle in the rain for 3 hours just to get a shot of himself riding a motorcycle, so that the racing team would notice him and he could join the team as a racing driver. For him at that time, this was the only way. Later, the racing team did contact him and made him a racing driver.

Many employees of Zhang Xue Motorcycle are motorcycle enthusiasts. Some came from different industries, and some came to Chongqing from all over the country, mostly because of Zhang Xue. In the view of an employee of Zhang Xue Motorcycle, Zhang Xue stands out in the industry because his personal IP label is very distinct. Netizens call him the "Lei Jun of the motorcycle circle" - a popular blogger with millions of fans in the motorcycle circle and a "motorcycle tycoon" who builds motorcycles.

Moreover, he is "stubborn" about the things he believes in.

Before starting his own business, Zhang Xue worked in the workplace for a few years. "I used to argue with all my colleagues in the company, including my leaders and my boss. I was like a fool in the workplace." Thinking back to himself in the early years of his career, Zhang Xue said with a smile. He didn't just have ordinary arguments. When his leader didn't agree with his product design concept, he would say "OK" on the surface, but during the two - hour lunch break of his colleagues, he would quickly make a model for the leader to try, and use the result to "argue back."

In 2017, he co - founded Kove Motorcycle with two other founders. Now it is also a well - known domestic motorcycle company. In March 2024, Zhang Xue announced on his WeChat Moments that he had "quit naked" and left the company he founded. The next month, Zhang Xue founded a brand named after himself - Zhang Xue Motorcycle. He wrote in his WeChat Moments that the reason for leaving Kove was that his dream conflicted with the interests of the investors.

Photo by Hu Nannan

Zhang Xue didn't want to talk too much about the conflict when he left Kove. When the reporter asked about it, his expression changed instantly. After a few seconds' pause, he said, "I don't want to evaluate others now... Anyway, there was a conflict, and I couldn't get what I wanted, so I had to take my own path."

He just wants to "stubbornly" take his own path. "If I'm not happy, I'll change it." Zhang Xue told China Entrepreneur.

Every Spring Festival holiday, he organizes a group of people to go on a self - driving motorcycle tour. Usually, it's a small team of a dozen people, traveling to Hunan, Guangxi, Guangdong... This year is the 11th year. He thinks that it's a pity to waste such a long holiday without riding a motorcycle.

He has no other hobbies except riding motorcycles. Every day, he rides his small scooter to and from work. An employee of Zhang Xue Motorcycle told China Entrepreneur that he still hasn't got a driver's license and can't drive a car.

Even, he doesn't want to start a business. "I don't like starting a business either. I like building motorcycles and researching and developing motorcycles." Zhang Xue said with a smile, "Actually, what I enjoy the most is the process of making motorcycles. This is what I really enjoy."

Just as netizens joked about him, Zhang Xue builds motorcycles not for making money, but because he is "really addicted."

The following is the dialogue between China Entrepreneur and Zhang Xue (with some deletions):

Zhang Xue has only a three - year window period

China Entrepreneur: Last March, when Zhang Xue launched the first new model, you said it was your last chance and you bet all your assets. Do you think Zhang Xue Motorcycle has won so far?

Zhang Xue: It has survived. The results last year were still very impressive, although we only achieved 85% of our goal. Our goal for 2025 was to produce 30,000 units, but we actually only produced a little over 25,000 units. If our production capacity hadn't had problems and some parts hadn't been in short supply last year, we could really have reached 30,000 units.

China Entrepreneur: What was the sales volume last year?

Zhang Xue: 720 million yuan.

China Entrepreneur: What was the profit?

Zhang Xue: - 20 million yuan. (Hehe) We said, We worked hard all year, but at the end of the year, we found we had a loss of 25 million yuan.

China Entrepreneur: What is your current goal?

Zhang Xue: To make Zhang Xue Motorcycle one of the world's top 10 brands. We are currently ranked eighth in the domestic recreational motorcycle market. It should be very easy for us to reach the fifth place next year, and it's also very possible to reach the third place.

China Entrepreneur: Is the goal of becoming the third in the domestic market next year too aggressive? The company has only been established for two years.

Zhang Xue: It's not aggressive. If we can't even achieve this goal, this company is doomed. Actually, if a company can succeed, it can do so in just a few years. If it can't succeed in a few years, it won't succeed even in 20 years. Which company do you think needs 20 years to develop? It doesn't. If it can succeed, it will do so in a few years.

China Entrepreneur: What are your plans for the company this year?

Zhang Xue: We aim to have at least 450 stores and achieve a sales volume of 2 billion yuan. We will make a profit when the sales volume reaches 2 billion yuan. We will break even at 1.5 billion yuan, and we will have a loss if it's below 1.5 billion yuan.

Photo by Deng Pan

China Entrepreneur: Who do you think is Zhang Xue Motorcycle's competitor?

Zhang Xue: I think all of them are. (Hahaha) It's easy to offend our peers by saying so, you know? Well, in 2025, the industry leader is CFMoto. I think CFMoto is a very excellent company. Its internationalization has been doing very well in recent years, and its overseas growth has been very high and fast. It's an example for us to learn from. Of course, I also have the idea of surpassing this example. It's not so offensive to say so, right?

China Entrepreneur: How many years do you expect it will take to surpass the example company?

Zhang Xue: Actually, if we can surpass it, it will take 3 - 5 years. If we can't surpass it in 3 - 5 years, we won't be able to do it. Because excellent companies will become even more excellent. The window period is there. If you can surpass, you will. If we start counting from the company's establishment, it's at most 5 years. If we start counting from today, it's at most 3 years. If you can do it, you will. If not, you won't have another chance.

China Entrepreneur: So, Zhang Xue Motorcycle only has a three - year window period?

Zhang Xue: Yes. Actually, the three - year period is the window for us to become excellent. The survival window was last year. If I hadn't produced 20,000 units last year, the company would have died. This is a basic quantity. If we didn't reach 20,000 units, it means there were various problems, and it's natural for the company to die.

China Entrepreneur: If Zhang Xue Motorcycle can succeed during this window period, what aspects does Zhang Xue need to do particularly well? What mistakes can't be made?

Zhang Xue: We are building a quality management system. Wrong product definition or serious quality problems are unacceptable to us. For example, if our product goes in the wrong direction and the new product launch fails, it means the whole team's work for the whole year is in vain. The money spent doesn't matter much. The cost is small, but the time cost and opportunity cost are the biggest for us. Once this year is gone, it's gone. We can't start over again. And the industry will close its door to us, suppliers will lose trust in us, and dealers will not support or trust us either. This is a result we can't afford now.

Borrowed 7 million yuan to pay the salaries

China Entrepreneur: Where did the money for this business come from?

Zhang Xue: During the seed - round financing, an investor invested 20 million yuan and took a 20% stake. I also borrowed 10 million yuan from him privately, so I had 30 million yuan in total. I also got some money when I left Kove. It was paid in three installments, and the first installment was several million yuan. In this way, I had more than 30 million yuan. I calculated every penny carefully, and this money was just enough for us to launch the first model in March 2025. But often, plans can't keep up with changes.

Actually, by February last year, we were running out of money. We didn't have enough money to pay the salaries in February. So I borrowed money everywhere, from friends, peers, suppliers, and even borrowed 1 million yuan from our landlord. In total, I borrowed 7 million yuan to pay the salaries. In March, we held a press conference and started deliveries, and then we had funds. Because suppliers would give us a credit period, and we would also collect deposits from dealers, so we had a capital pool.

China Entrepreneur: Actually, the period before the launch of the first model was a very difficult time for you.

Zhang Xue: Yes, and I had to launch the new model in March. If I didn't, the company would run out of money. You know, the most difficult thing for a company is a broken capital chain. Right? Once the capital chain breaks, you have to admit defeat even if you don't want to.

China Entrepreneur: Were you anxious about money at that time?

Zhang Xue: Not anxious. There was pressure. I just pushed myself to the limit and didn't make any excuses - I had to finish this thing today no matter what, even if I had to work until dawn.

China Entrepreneur: Do you still have financial problems now?

Zhang Xue: No. We just