Weltmeister revives EV business with 27 million USD sales hub and EX5 SUV, E5 sedan comeback
Weltmeister, the Chinese electric vehicle startup that underwent a financial restructuring, has taken a key step in its recovery by establishing a new sales subsidiary in Wenzhou, a coastal manufacturing hub in eastern China, as reported by Autohome. The company invested 200 million yuan, roughly USD 27 million, in the new entity, ZhimaXing (Wenzhou) New Energy Vehicle Sales Co., Ltd., which will handle vehicle sales, EV accessories, battery-swapping infrastructure, parts distribution, used-car brokerage, and the recycling of used EV batteries. The move coincides with the planned restart of production for the EX5 compact electric SUV and the E5 fully electric sedan, two of Weltmeister’s main models before its financial difficulties.
The launch aligns with Weltmeister’s broader restructuring plan. Shenzhen Xiangfei Auto Sales Co. took over the company’s core assets in April 2025 following a court-approved reorganisation. Under this plan, production of Weltmeister’s EX5 compact electric SUV and E5 fully electric sedan is scheduled to resume at the Wenzhou facility. These models were key to the brand before financial difficulties led to a temporary halt in production and sales. Initial targets for 2025 include 10,000 to 20,000 units.
Weltmeister has outlined a multi-phase development roadmap. Over the next five years, the company aims to introduce more than ten new models across different segments, covering sedans, SUVs, and MPVs, using battery-electric and range-extended powertrain technologies. The company intends to serve a broad spectrum of consumer needs while leveraging its new sales subsidiary to manage retail operations, EV infrastructure, parts distribution, and used battery recycling.
Weltmeister was an early Chinese EV startup that launched its first model, the EX5, in 2018. Financial pressure and market competition led to a 2023 bankruptcy restructuring, but under the current plan, renewed production and sales efforts are underway. The opening of the Wenzhou sales company represents a tangible step in restoring operations and rebuilding the brand’s market presence.
The company faces challenges as it seeks to regain its footing in China’s competitive EV market. Full-scale production, supply chain stability, and adequate after-sales support remain critical factors. The success of the new sales hub and the phased restart of output for the EX5 and E5 will determine whether Weltmeister can reestablish itself as a competitive EV manufacturer in the coming years.
