It has been suggested by experimentalists that a weakly nonlinear analysis of the recently introduced equations of motion for the nematic electroconvection by M. Treiber and L. Kramer [Phys. Rev. E 58, 1973 (1998)] has the potential to reproduce the dynamics of the zigzag-type extended spatiotemporal chaos and localized solutions observed near onset in experiments [M. Dennin, D. S. Cannell, and G. Ahlers, Phys. Rev. E 57, 638 (1998); J. T. Gleeson (private communication)]. In this paper, we study a complex spatiotemporal pattern, identified as spatiotemporal chaos, that bifurcates at the onset from a spatially uniform solution of a system of globally coupled complex Ginzburg-Landau equations governing the weakly nonlinear evolution of four traveling wave envelopes. The Ginzburg-Landau system can be derived directly from the weak electrolyte model for electroconvection in nematic liquid crystals when the primary instability is a Hopf bifurcation to oblique traveling rolls. The chaotic nature of the pattern and the resemblance to the observed experimental spatiotemporal chaos in the electroconvection of nematic liquid crystals are confirmed through a combination of techniques including the Karhunen-Loeve decomposition, time-series analysis of the amplitudes of the dominant modes, statistical descriptions, and normal form theory, showing good agreement between theory and experiments.