Rise Frompurity, Weltmeister Ready To Return To Global EV Arena

JAKARTA Do you remember Weltmeister? The electric vehicle (EV) startup from China, which had become a star, then fell due to the financial crisis a few years ago. Now, the brand is preparing to rise and compete again in the automotive industry.

Reporting from Carnewschina, Monday, September 8, Weltmeister announced plans to resume production starting this month. This news was conveyed through the company's official WeChat account, as well as marking a new step after its new investor, Shenzhen Xiangfei Auto Sales Co. (Xiangfei), officially took over.

Xiangfei revealed a five-year ambitious roadmap, including the annual production target of 1 million units by 2030 as well as preparations for the Initial Public Offering (IPO). As a first step, the company injected 1 billion yuan in funds to improve equipment, revive supply chains, and develop new products.

Weltmeister's revival is also inseparable from the approval of the restructuring of the company's four main entities by Shanghai's Third Middle People's Court in April 2025. The cities governments of Shanghai and Wenzhou even provided full support for reviving this manufacturer.

Weltmeister designed a layered strategy between 2025'30.

The revitalization stage (2025): production of EX5 and E5 models in September 2025 with a target of 10,000 units in the first year, rose to 20,000 units the following year. The company is also planning a KD plant in Thailand to expand its market to Southeast Asia and the Middle East.

Development stage (2026'2029): production rose to 400,000 units per year, including a new model with high-level ADAS technology, with 30 percent of sales targeted from exports.

The peak stage (2030): pursues the production of 1 million units per year and revenue of 120 billion yuan (around USD 16.4 billion), as well as building a complete smart mobility ecosystem.

From Primadona To Crisis

Founded in 2015, Weltmeister was one of the pioneers of China's EV startup and attracted a lot of attention from investors. However, since 2022, the company has been slumped due to serious financial problems: salary cuts, massive layoffs, and debts are piling up.

In October 2023, they officially filed a bankruptcy review. The restructuring audit at that time showed the company's assets were worth 3.9 billion yuan, far below the total liabilities that broke 20.3 billion yuan.

Opportunities to Indonesia?

Weltmeister has actually explored the Indonesian market since 2022 through collaboration with Hascar Automotive. However, this step has never been realized. Now, with its new revival, it is interesting to wait for whether this brand will participate in enlivening the Indonesian automotive market, which is currently increasingly crowded by players from China.