The highly anticipated shared car platform is once again facing a crisis. A few days ago, sources reported that LeTV’s shared car brand, Zero Pai Leu, might have stopped operating in Beijing. The app showed no available cars for several days, and calls to the 400 customer service number went unanswered. Let’s take a closer look at this issue with our car electronics editor.
A recent investigation by the reporter found that most of the outlets on the app currently show no vehicles available. However, some offline rental points still have cars under the platform. On the evening of July 20th, three rental points near the South Fourth Ring Road in Beijing showed one car available for rent.
Zero Pai Leu is the second major player in the shared car industry after the car rental friend. The shared car market, known for its heavy asset investment and operational model, has long struggled with low user engagement, limited capital, and lack of profitability. Previous crises in the shared car sector have cast a shadow over the entire industry. Now, the question is whether this platform can become the next big traffic portal and a 100 billion-dollar business, following the success of ride-hailing and shared bicycles. This situation tests the resilience of all players in the market.
Suspension Concerns
LeTV's financial troubles have also affected its shared car brand, Zero Pai Leu. Reports indicate that only 12 rental points in Beijing are still active, but they show no available cars. The customer service team responded that "some vehicles are undergoing annual inspections and maintenance." According to the news, although the app shows no cars at certain rental points, reporters found two zero-sex cars in the parking lot, one of which had a blurred logo. Similar situations were observed at other rental points, where cars with the zero-segment logo were present despite the app showing no availability.
On July 19th, the reporter visited a rental point at Kuntai Mall's Walmart store and found that while the app showed no available cars, there was a Zero Pai Leu vehicle in the parking lot. At another rental point, the reporter found a Zero Pai car with an unrecognizable logo. The parking lot staff mentioned that the cars had been parked for a long time, and the initial deployment was around three vehicles, but the usage rate was low. “Besides Zero Pai, there are other shared car brands in the parking lot, and their usage rates are higher.â€
Later, the reporter logged into the Zero Pai Leu app and found that after entering a phone number, the verification code could not be received. When contacting customer service via the WeChat public account, the staff said it was due to network issues. However, when the reporter asked why the app showed no available cars, the customer service suggested calling them directly. After multiple failed attempts to reach customer service, the reporter found that on July 20th, three rental points outside the South Fourth Ring Road in Beijing showed one car available.
Full Contraction
Rumors of a suspension have spread around Zero Pai Leu. This is the second time the shared car market has faced a crisis after the shutdown of the car rental friend. When shared car brands rely on policy support and try to expand quickly, high maintenance fees, parking costs, and initial investment make it hard for small players to survive. The shutdown of the friend's car rental and the current crisis of Zero Pai Leu have raised concerns about the sustainability of such models.
According to the reporter's understanding, Zero Pai Leu is affiliated with LeEco Holdings (Beijing) Co., Ltd. It was launched in early 2016 and announced a RMB 2 billion investment plan from its parent company in May 2016. As of September 2016, the brand had nearly 70 outlets and 300 vehicles in Beijing, covering major transportation hubs and commercial centers. He Yi, chairman of Zero Pai Leu, stated that the company aimed to deploy 3,000 vehicles across seven cities, including Beijing and Shanghai, by the end of 2016. However, the app now only shows operation in Beijing, with more than 20 rental points, most of which show no available cars.
Multiple Pressures
Since the emergence of shared cars, the model has always been questioned for its consumer demand and heavy asset and operational burden. Compared to ride-hailing and shared bikes, the shared car industry still lacks significant capital attention. Even after the government issued relevant regulatory guidelines, capital seems hesitant to invest in the sector.
A source from a shared car brand, who did not want to be named, said that both the car rental friend and Zero Pai Leu were atypical cases. The former failed due to capital chain issues during the transition period, while Zero Pai Leu heavily relied on LeTV. The serious impact of LeTV's crisis has put the platform in a tough spot. While these outages have their own unique circumstances, they do not represent the overall industry trend.
Despite challenges like an imperfect credit system, poor parking conditions, and incomplete charging infrastructure, national policies continue to encourage the development of shared vehicles. The industry is moving in the right direction, albeit with growing pains.
Professor Zhu Dajian from Tongji University’s School of Administration, Urban Management, and Construction Engineering told reporters that small enterprises in the shared car industry face issues like funding and resource shortages, making survival difficult. Currently, the market is dominated by new energy vehicles. Large companies like BAIC and SAIC have strong financial backing, vehicle resources, and licenses, allowing them to deploy large numbers of cars to meet consumer needs and drive their own growth. However, if these companies face issues like a broken capital chain, survival becomes even harder.
This is the latest update on the LeTV shared car platform, which appears to be facing an outage crisis. For more information, keep an eye on our updates. Car Electronics will provide you with more comprehensive, detailed, and up-to-date information.
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