Weltmeister Reboots with $27M Sales Hub and EV Models Revival
Chinese electric vehicle startup Weltmeister has taken a significant step towards recovery by setting up a new sales subsidiary in Wenzhou, China. The company invested USD 27 million to establish ZhimaXing (Wenzhou) New Energy Vehicle Sales Co., Ltd., which will oversee various aspects of the EV business including sales and infrastructure.Key Takeaways$27 million investment for a new sales subsidiary in Wenzhou, ChinaNew models EX5 SUV and E5 sedan set to resume productionAims to introduce over ten new EV models across different segments by 2030Weltmeister’s latest move comes after a period of financial restructuring. The company has now secured the necessary resources to restart manufacturing for its popular EX5 compact electric SUV and E5 fully electric sedan, both of which will be produ...