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Weltmeister Motors wins over investors

In a new round of funding, e-car startup Weltmeister Motors has received the equivalent of more than €260 million from investors. The money will be used to develop autonomous driving and other “smart technologies,” according to the company. Founded in 2016, the company has yet to turn a profit. In the first nine months of last year, it incurred a loss of the equivalent of 490 million euros, as reported by business portal Caixin. Accordingly, the loss doubled compared to 2017.

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