“After critically looking at our business, the industry, and what’s going on with COVID-19, we have made the tough but necessary decision to wind down our business,” the email said.
Maven was launched in 2016 as a rival to other car-sharing services such as Daimler’s Car 2 Go and Zipcar. The service operated in 17 different U.S. cities at its peak and was also offered in Toronto, Canada and Perth, Australia. Shortly after its 2016 launch, GM expanded Maven’s scope with Maven Gig, which allowed users to rent GM cars to use for delivery jobs and other “gig economy” tasks. Maven also operated an e-bike sharing service and allowed GM owners to rent out their own vehicles through its smartphone app, allowing it to serve as a rival to other peer-to-peer car-sharing apps like Turo.
Maven’s future was called into question when director Julia Steyn left the company suddenly last January. This was Maven’s second major executive departure in less than a year, with its director of urban mobility, Petr Kosak, also leaving the company in February of 2018. There was more bad news for Maven last May, when GM pulled the service out of eight U.S. cities, saying it was “shifting Maven’s offerings to concentrate on markets in which we have the strongest current demand and growth potential.”
In a statement released Tuesday, GM’s vice president of global innovation, Pamela Fletcher, said the company has “gained extremely valuable insights from operating our own car-sharing business.”
“Our learnings and developments from Maven will go on to benefit and accelerate the growth of other areas of GM business,” Fletcher added.
GM launched Maven as a way to gain insight into the car-sharing and mobility industries. It also used the app to prepare itself for a changing automotive industry landscape that is seeing young people buy fewer cars and rely on mobility apps like Uber and Lyft.
While Maven is no longer, GM is still involved in the mobility industry in the way of its Cruise subsidiary. Through Cruise, GM hopes to launch a driverless ride-hailing service using its Cruise Origin autonomous shuttle, which will serve as a rival to Uber and Lyft. The automaker had previously planned to launch the robotaxi service in late 2019, but delayed its rollout indefinitely last summer.