WM Motor: owner, models, markets and what the name means
Facts checked United States status as of 4 September 2026
- Electric-native
- restructuring
WM Motor was founded in Shanghai in January 2015 by Freeman Shen, who had been an executive at Fiat and at Geely Holding, where he worked on the Volvo Cars deal. It was one of the better-funded of the first wave of Chinese electric startups, backed among others by Baidu and Tencent, and it built its own factory rather than contracting the work out.
The cars were mid-market: the EX5 compact SUV from 2018, the EX6, the W6 and the E5 saloon. Sales reached 44,152 in 2021, then fell to 29,450 in 2022 and to nothing in 2023. Attempts to raise money through a Hong Kong backdoor listing and then a US listing came to nothing, and in October 2023 the company filed for pre-restructuring — insisting at the time that this was not bankruptcy and denying reports that its founder had left the country. A court moved the case into full reorganisation in January 2024.
In September 2025 Shenzhen Xiangfei Automobile Sales announced it had become the restructuring investor and new shareholder of WM Motor's four operating entities, with RMB 1bn for equipment, supply chain and development, a restart of EX5 and E5 production, and targets of 100,000 vehicles and RMB 10bn of revenue in 2026. Those are stated plans, not results.
Built by WM Motor Technology Group of Shanghai. Shenzhen Xiangfei Automobile Sales became the restructuring investor and new shareholder of its four operating entities in September 2025.
WM Motor filed for pre-restructuring in October 2023 and a court accepted the application, moving it into reorganisation in January 2024. Sales were nil in 2023. In September 2025 a new owner, Shenzhen Xiangfei Automobile Sales, announced a restart of EX5 and E5 production; a further model was reported for November 2025.
Key facts
| Chinese name | 威马 “way-MAH” a transliteration of the German Weltmeister ('world champion'); the characters read as 威 wēi 'power, prestige' + 马 mǎ 'horse' |
|---|---|
| Also written | Weltmeister, WM and Weima |
| Owner | Independent |
| Founded | 2015 |
| Headquarters | Shanghai, China |
| Origin | China |
| First car | Weltmeister EX5, 2018 |
| Vehicles | Cars |
| Segment | Electric-vehicle start-up |
| United States | Never sold in the United States — WM Motor has never been sold in the United States. |
| Founded | January 2015 in Shanghai by Freeman Shen with Du Ligang and Lu Bin; backers included Baidu and Tencent |
| Sales history | 12,799 (2019), 21,937 (2020), 44,152 (2021), 29,450 (2022), zero (2023) |
| Pre-restructuring | Filed October 2023; the court accepted the application and moved it into reorganisation in January 2024 |
| New owner | Shenzhen Xiangfei Automobile Sales became restructuring investor and new shareholder of the four operating entities, announced 6 September 2025 |
| Restart plan | RMB 1bn investment; 10,000-20,000 EX5 and E5 units plus 10,000 of two new models; 100,000 units and RMB 10bn of revenue targeted for 2026; a Thai knock-down assembly plant announced |
Who owns WM Motor?
Shenzhen Xiangfei Automobile Sales Co., Ltd. controls WM Motor Technology Group Co., Ltd. since September 2025.
Shenzhen Xiangfei Automobile Sales announced on 6 September 2025 that it had become the restructuring investor and new shareholder of WM Motor's four operating entities, taking control of them, with RMB 1bn committed to equipment, supply chain and development. The percentage held was not disclosed.
WM Motor Technology Group Co., Ltd. owns WM Motor at 100% since January 2015.
The Weltmeister / WM marque belongs to WM Motor Technology Group of Shanghai, which has been in court reorganisation since a pre-restructuring filing in October 2023.
The full ownership page for WM Motor · Is WM Motor Chinese?
Where WM Motor is sold
Recorded in 1 market : CN. Where a company publishes only its principal markets, that is a floor and not a complete list.
| Country | Code | Market page |
|---|---|---|
| China | CN | no page yet |
WM Motor: questions people ask
- Is WM Motor dead?
- It stopped selling cars in 2023 and went into court reorganisation, but it has not been wound up. A new owner, Shenzhen Xiangfei Automobile Sales, took control of its operating entities and announced a production restart in September 2025.
- What does Weltmeister mean?
- It is German for 'world champion'. The Chinese name 威马 (Wēimǎ) approximates the sound and reads as 'power' plus 'horse'.
- Who owns WM Motor?
- Since September 2025, Shenzhen Xiangfei Automobile Sales, which became the restructuring investor and new shareholder of the group's four operating entities. It was founded by Freeman Shen in 2015 and earlier backed by Baidu and Tencent.
- Why did WM Motor fail?
- It spent heavily on its own factories, its sales fell from 44,152 in 2021 to zero in 2023, and successive attempts to list in Hong Kong and the United States failed to raise money. It filed for pre-restructuring in October 2023.
Related
Sources for WM Motor
- Wikipedia, Weltmeister (marque). Read . Founding, founders, investors, models, sales by year and the restructuring timeline
- CnEVPost, WM Motor's new owner announces EV maker's comeback, set to resume production this month. Read . Shenzhen Xiangfei as restructuring investor and the announced production and revenue plans
- CnEVPost, WM Motor files for 'pre-restructuring', says it will seek rebirth. Read . The October 2023 pre-restructuring filing