The Maven team tours the New York Stock Exchange in May of 2017 as it celebrated a New York City expansion. GM had poised Maven to be its foray into mobility services. - Photo courtesy of General Motors.

The Maven team tours the New York Stock Exchange in May of 2017 as it celebrated a New York City expansion. GM had poised Maven to be its foray into mobility services.

Photo courtesy of General Motors.

General Motors is shutting down its Maven carsharing brand, according to a notice sent to its 230,000 customers on Tuesday. "Effective immediately, Maven Car Sharing will no longer be available," the notice stated.

The division had suspended operations recently due to the coronavirus pandemic. GM had already ended service in several major markets last May.

According to GM, the decision was made partially as a response to the challenges of the pandemic, but also because the division was not thought to be profitable.

The app-based service, which started in 2016, was designed to be an incubator for GM’s mobility initiatives. The division expanded from traditional carsharing to a service that allowed peer-to-peer sharing of GM vehicles and as a supplier to ride-hailing services such as Uber and Lyft.

According to a GM statement, Maven’s assets and resources will be transferred to GM’s Global Innovation organization, which will use them to develop “new fleet services” and “mobility solutions.”

Operations are expected to cease fully by this summer.


Related: GM Ends Carsharing Service Maven in 8 Cities


 

Originally posted on Auto Rental News

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