--- title: "Alex Roy Chinese Electric Vehicle Market News" description: "Weltmeister Revives EV Production and Business Operations After Bankruptcy SHANGHAI — Chinese electric vehicle (EV) startup Weltmeister, an early player in the market that filed for bankruptcy in 2023, has officially resumed operations under new ownership. Backed by a new investor, Shenzhen Xiangfei Auto Sales Co., and with government support, the company aims to rebuild its presence in China's highly competitive EV sector. Key Details: Production Restart: The company's Wenzhou base has resumed production of the EX5 SUV and E5 sedan models. New Investor & Funding: Shenzhen Xiangfei is the new owner and has committed an initial investment of 1 billion Chinese Yuan (around $137 million USD) for upgrades and supply chain recovery. The New Weltmeister is receiving support from the Shanghai and Wenzhou municipal governments. Ambitious Targets: The company has a multi-phase development plan (2025-2030), with a goal to produce 10,000 to 20,000 units by the end of 2025. The long-term objective is to reach an annual production target of one million vehicles by 2030. Future Plans: Weltmeister intends to launch over 10 new models, including sedans, SUVs, and MPVs, within the next five years. It also plans international expansion, starting with a factory in Thailand. Sales & Service: A new sales subsidiary has been established to manage retail operations, parts distribution, and after-sales support, addressing a critical concern for existing owners following the original company's collapse. The comeback effort faces significant challenges in a crowded market, but the new structure and financial backing provide a path for the brand's potential resurgence." url: "https://motorwatt.com/community/stream/item/3437" date: "2026-05-23T10:24:13+00:00" language: "en-GB" --- Loading cover... Drag cover to reposition [ ![Chinese Electric Vehicle Market News](https://motorwatt.com/media/COMMUNITY/avatars/page/31/83017542b58a1f5a1988ac4aa2dff5c0_square.jpg) ](https://motorwatt.com/javascript:void(0);) # [ Chinese Electric Vehicle Market News](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news "Chinese Electric Vehicle Market News") - [ Electric Vehicles ](https://motorwatt.com/community/community-pages/categories/electric-vehicles) - [ Public ](https://motorwatt.com/javascript:void(0);) - [ 1 Like ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/followers) - [ 81838 ](https://motorwatt.com/javascript:void(0);) - [ Like Page](https://motorwatt.com/javascript:void(0);) [ ](https://motorwatt.com/javascript:void(0);) [Timeline](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news) [About](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/info) [ Followers ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/followers) [ Albums ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/albums) [ Videos ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/videos) [ Events ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/events) [ More ](https://motorwatt.com/javascript:void(0);)- [ Marketplace ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/marketplace "Marketplace") - [ Discussions ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/discussions "Discussions") - [ Feeds ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/feeds "Feeds") - [ Files ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/files "Files") - [ Announcements ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/announcements "Announcements") - [ Polls ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/polls "Polls") - [ ![Alex Roy](https://motorwatt.com/media/COMMUNITY/avatars/users/383/421fbbb6d7fb595cf898feb721e4dc2b_medium.jpg) ](https://motorwatt.com/community/alexroymotorwatt) [ Alex Roy](https://motorwatt.com/community/alexroymotorwatt "Alex Roy") [ Chinese Electric Vehicle Market News](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news "Chinese Electric Vehicle Market News") [5 months ago](https://motorwatt.com/community/stream/item/3437) Editing Weltmeister Revives EV Production and Business Operations After Bankruptcy SHANGHAI — Chinese electric vehicle (EV) startup Weltmeister, an early player in the market that filed for bankruptcy in 2023, has officially resumed operations under new ownership. Backed by a new investor, Shenzhen Xiangfei Auto Sales Co., and with government support, the company aims to rebuild its presence in China's highly competitive EV sector. Key Details: Production Restart: The company's Wenzhou base has resumed production of the EX5 SUV and E5 sedan models. New Investor & Funding: Shenzhen Xiangfei is the new owner and has committed an initial investment of 1 billion Chinese Yuan (around $137 million USD) for upgrades and supply chain recovery. The "New Weltmeister" is receiving support from the Shanghai and Wenzhou municipal governments. Ambitious Targets: The company has a multi-phase development plan (2025-2030), with a goal to produce 10,000 to 20,000 units by the end of 2025. The long-term objective is to reach an annual production target of one million vehicles by 2030. Future Plans: Weltmeister intends to launch over 10 new models, including sedans, SUVs, and MPVs, within the next five years. It also plans international expansion, starting with a factory in Thailand. Sales & Service: A new sales subsidiary has been established to manage retail operations, parts distribution, and after-sales support, addressing a critical concern for existing owners following the original company's collapse. The comeback effort faces significant challenges in a crowded market, but the new structure and financial backing provide a path for the brand's potential resurgence. [ **![weixin-image_20251128123046_959_10-800x450](https://motorwatt.com/media/COMMUNITY/photos/243/928/weixin-image-20251128123046-959-10-800x450_large.jpg)** ](https://motorwatt.com/community/community-pages/chinese-electric-vehicle-market-news/photos/928-weixin-image-20251128123046-959-10-800x450 "weixin-image_20251128123046_959_10-800x450") 0 0 0 0 0 0 [ ](https://motorwatt.com/javascript:void(0);) Comments (0) Post is under moderation Stream item published successfully. Item will now be visible on your stream. 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