Weltmeister (Chinese name Weimar; brand WM Motor) is a Shanghai-based Chinese electric vehicle manufacturer founded in January 2015 by Freeman Shen, a former Volvo China chairman and Geely executive. The name 'Weltmeister' is German for 'world champion.' The company designed and produced battery-electric SUVs and sedans aimed at the mass-market segment, including the EX5, EX6, W6 and E5 models, and operated owned plants in Wenzhou (Zhejiang) and Huanggang (Hubei). Once considered a leading challenger to Tesla and the so-called 'NIO/Xpeng/Li Auto' trio of Chinese EV startups, WM raised roughly USD 5 billion from investors including Baidu, Tencent, Sequoia Capital China, SAIC Motor, China Chengtong Fund, PCCW and Shun Tak Holdings. Multiple attempts to go public failed: a planned Shanghai STAR Market IPO in 2020-2021 stalled, a Hong Kong IPO filing in 2022 lapsed, and a USD 2 billion backdoor-listing deal with Hong Kong-listed Apollo Future Mobility was terminated in September 2023. Sales fell sharply from a 2021 peak as competition from BYD and others intensified, and in October 2023 WM filed for pre-restructuring with a Shanghai court. The court confirmed the company insolvent in March 2024 and formally entered substantive consolidation reorganization proceedings. In 2025, Shenzhen Xiangfei Automobile Sales Co. became the restructuring investor and new controlling shareholder of WM's four operating entities, announcing plans to resume production of EX5 and E5 models and establish a KD assembly plant in Thailand.
Weltmeister has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2015
Employees
1,001–5,000
Total Funding
$5.73B
7 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $5.73B across 7 rounds
Last updated 08-12-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Dec 1, 2021 | Pre-IPO | $152M | — | Not specified |
| Oct 5, 2021 | Series D1 / Pre-IPO | $300M | — | PCCW, Shun Tak Holdings |
| Feb 9, 2021 | Bank Credit Facility Bloomberg | $544M | — | Shanghai Pudong Development Bank |
Freeman Shen
Founder, Chairman and CEO (resigned/role suspended during reorganization)
Competitor list is illustrative and may be incomplete, stale, or erroneous.
NIO
NYSE/HKEX-listed Chinese premium EV maker; one of the original 'big three' Chinese EV startups WM positioned against.
XPeng
NYSE/HKEX-listed Chinese smart EV manufacturer competing in the mass-premium segment alongside WM.
Li Auto
Nasdaq/HKEX-listed Chinese EREV and EV manufacturer; part of the new-energy startup trio that out-executed WM.
BYD
Shenzhen/HK-listed Chinese EV and battery giant whose mass-market dominance accelerated WM's commercial collapse.
Leapmotor
HKEX-listed Chinese EV startup targeting the affordable mass-market segment WM also competed in.
Hozon Auto (Neta)
Chinese EV startup with overlapping mass-market positioning that, like WM, has faced severe financial distress.
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