General Motors said Tuesday it’s closing down its Maven automobile-sharing subsidiary, after suspending operations due to the novel coronavirus.
The auto manufacturers said it will move Maven assets and resources to Global Innovation.
Maven had never gained much popularity since it was launched in Ann Arbor, Michigan, back in January 2016. Launched when Dan Ammann was the president of GM, Maven experienced a short-lived strategic coalition with ride services unicorn Lyft.
Ammann is now CEO of Cruise, the San Francisco autonomous car startup that GM purchased under Ammann’s regime in early 2016 just after launching Maven.
Julia Steyn, the first head of Maven, left GM last year. She is the chief executive officer of Bolt Mobility, an e-scooter rental startup co-founded by world-class sprinter Usain Bolt.
In a brief assertion Tuesday, Pamela Fletcher, head of GM Global Innovation, mentioned the auto manufacture gained extraordinarily valuable insights from Maven that would profit and speed up the growth of other areas of GM’s enterprise.
GM canceled Maven services in March because the coronavirus triggered more and more strict government constraints on mobility and ultimately chose to shutter the business.
The service allowed consumers to lease vehicles by the minute and park them on city streets or at parking meters without charge. It faced robust competition from ride-service companies, including Lyft and Uber Technologies.