Chinese electric vehicle (EV) company Weltmeister Motor is rumored to have postponed its scheduled initial public offering (IPO) following negative media coverage of the company. Weltmeister had previously applied to go public on China’s Shanghai Stock Exchange in September 2020, then planned to finalize the IPO work in 2021.
The possibility of going public represents a critical question for Weltmeister not only in 2021 but also the years to come, if it aims to compete and survive in the electric automobile market. In an internal corporate email, Weltmeister’s founder Shen Hui said that “Weltmeister is not dead yet, but the company is far from landing into safety.”
If successful, Weltmeister will become the first EV company to go public in China, while the company’s major rivals, including NIO, Li Auto and XPeng, have all completed listings in the United States.
- Weltmeister Motor rejects delayed public offering talks
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