Back in 2016, General Motors launched a brand-new division called Maven. The company tried to compete with car-sharing giants in the world. After four years, the company decided to stop the operation, amid the coronavirus pandemic.
Farewell, Maven: GM Announcement
A GM representative confirmed to Roadshow the news through Twitter. In the same tweet, it also said that Maven users would receive emails on Tuesday, Apr. 21, informing them that the service will shut down effective immediately.
"Maven assets and resources will be transferred to GM's Global Innovation organization, as well as the larger enterprise," GM's said in a statement. Pam Fletcher, vice president of global innovation, said added that GM gained "extremely valuable insights from operating our own car-sharing business," and the knowledge will benefit other areas of the automaker's business.
The car-sharing service seemed to be a new revenue stream for GM. While it was operating, it permitted participants to rent vehicles on flexible terms and allow GM vehicle owners to rent out their own vehicles. The service was supposed to expand to include equipment, like lawnmowers. While the service was active, it operated in 17 cities. However, in 2019, GM pulled about half of then.