Source: Financial Sector
On October 5, Weltmeister announced that it expects to receive a new round of financing of approximately USD 500 million. Among them, the D1 round of financing was led by PCCW and Shun Tak Group, with participation from Guangfa Xinde's USD investment institutions and others, and the amount of financing exceeded USD 300 million. Subsequently, Weltmeister will sign a D2 round financing agreement with other internationally renowned US dollar investment institutions, and the total amount of financing is expected to reach approximately USD 500 million. This round of financing will be used for the research and development of driverless technology and other intelligent technologies and products, sales and service channel expansion, etc.
Founded in 2015, Weltmeister is an emerging domestic provider of new energy vehicle products and mobility solutions. The Weltmeister W6 is the main model of Weltmeister, which will be officially delivered in April 2021 and is claimed to be the first and only vehicle in the industry with L4-level automatic parking function. In fact, Weltmeister is also the first company to propose that "driverless accidents are the responsibility of the OEM".
PCCW was founded by Richard Li, the younger son of Li Ka-shing, and merged with Hong Kong Telecom in August 2000. According to SkyEye data, the actual controlling person of PCCW is still Richard Li, one of the important industries of Li Ka-shing's family.
Shun Tak Group, on the other hand, is an important listing platform for Stanley Ho's family in addition to SJM. According to SkyEye data, Shun Tak Group was founded in 1972 and listed on the Hong Kong Stock Exchange in 1973.
Weltmeister Receives $500 Million Funding