The promising Chinese electric vehicle startup WM Motor (a.k.a. Weltmeister) has declared bankruptcy. In a document filed in a Shanghai court this Monday, a copy of which was obtained by CleanTechnica, WM Motor indicated that it has grappled with operational issues in recent years. It said in a statement on … [continued]
Welcome to the next issue of China x Cleantech.
In 2003, a new automotive startup was founded in California, but had only a 10% chance of success, according to its current CEO. By 2019, the same company had already made close to a million passenger cars and had become the leading EV maker in the world.
In Shanghai, on December 11th, 2017, WM Motor Technology Co. held a ceremony to reveal the first car under the new Weltmeister brand, the EX5. The new brand plans to start taking orders in April and hopes to start deliveries of its new sports utility vehicle in the second half of 2018.
A relatively unknown new electric vehicle manufacturer, WM Motor, has managed to secure $1 billion in funding for the new venture, according to recent reports. How exactly? And who’s behind the new electric vehicle (EV) company? The answers are: 1) primarily through Zhejiang Geely Holding Group, and 2) a former Volvo exec … [continued]
