Chinese car-sharing company Ezzy has abruptly shut down services, leaving its customers unable to withdraw their 2,000 yuan ($300) deposits on the platform.
The Bejing-based company launched in 2016. Currently Ezzy’s official social media account states that it has suspended services and that it has proceeded liquidation.
Known for its fleet of luxury automobiles, including BMW and Audi electric cars, Ezzy’s model was to take 2,000 yuan from regular users as a deposit and charges them 1.5 yuan ($0.23) per minute for usage.
A Chinese language article stated that many users that had filed applications on the app to withdraw their deposit in September have failed to get the money until now, suggesting that the company has been in financial trouble for a while now.
Earlier this year, Ezzy’s founder had boasted that the registered users on the Ezzy platform exceeded 100,000.
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